Of all the industries that have suffered from the nation’s economic health, banks have taken some of the hardest hits. Unemployment has made it difficult for lenders to pay back loans, and thousands of branches have been forced to shut down. Because of such an environment, quite the competitive atmosphere has taken over amongst surviving banks. Attracting and keeping customers is crucial for them to stay afloat. From bank cleaning to rewards offerings, banks are putting out all the stops to keep customers happy.
Due to political intervention and changes in market structure, retail banks meet their biggest challenge yet: restoring confidence in the role they play in society. A 2010 study reported that over half of US bank customers say their confidence in the banking industry has fallen considerably in the past year. Restoring that trust begins with the customer. Bankers now expect more out of their chosen financial institutions, and have higher standards. Banks can meet those expectations by focusing on rebuilding trust and loyalty, and enhancing the overall customer experience.
Trust is a major factor in any relationship, and especially in the relationships between bank and customer. People want those who are dealing with their money to be transparent. Banks should display integrity, and answer all questions and concerns honestly. They should reward those who have been loyal, letting customers who have stuck around for years know that they appreciate it. Tailored offerings and access to more products can show that appreciation and enhance the customer experience. This means making improvements to service quality and personalizing the experience. Are employees friendly and knowledgeable? How is bank cleaning? What makes one branch stand apart from the branch next door? Banks should think critically about what they would want as a customer, and make those adjustments.
Banking institutions and localized branches can restore public confidence, one customer at a time. Making even the smallest improvements in areas like bank cleaning can make a noticeable difference. Superior bank cleaning by Jani-King is just another way to show customers you care.
Source: Ernst and Young Global Consumer Banking Survey, 2010