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Your bank's consumer research may generate flawed data (here's why)

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Financial marketers are famous for saying in ads and promotions, “We have excellent personal service.” (Who ever says they have lousy service!) They often don’t back up the claim with the kind of listening that helps them deliver more than services,

but products customers want delivered through the channels they want — when they want them.

Standard online “star surveys” and quick quizzes just touch the tip of the iceberg. A hurried “completely satisfied” answer to your automated phone survey doesn’t reveal any insights. To serve customers better — and solve problems they really want you to know about, marketers need to go deeper.

It's enticingly simple to launch an online poll of customers, especially for banks and credit unions that don't have research departments. But without the right survey method and carefully crafted questions the resulting input may be useless. Here are four mistakes financial marketers should avoid.

This article was first published in The Financial Brand. Read the story in its entirety here.

Banktastic is the financial marketing and branding agency for banks, credit unions and financial companies. Let us help you gain more valuable insights from your customers—and build their longterm loyalty. Let's talk! Reach out to Martha Bartlett Piland. This email address is being protected from spambots. You need JavaScript enabled to view it. or call 785.969.6203 direct.

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