How Can Your Financial Institution Get the Right Feedback?

It is essential for financial institutions to monitor and respond to feedback provided by their customers. With the increased use of social media, consumers now have a vehicle to project their attitudes about a given company or product at any time, and into a large net of listeners, such as Twitter.

A recent study by the Temkin Group investigated how often consumers give feedback, segmenting results by age and type of feedback. The data reveals that consumers are far more inclined to report bad feedback, a fact that is not surprising due to the volume of complaints to customer service centers and through social media. The data suggests financial institutions need to find ways to react quickly and inform users to curb these negative complaints; additionally financial institutions need to tailor their relationships with customers to ensure younger demographics are encourage to be more vocal about their banking experience.

You can see a representation of the report findings below, or on the Customer Experience Matters blog.

How do you ensure you are getting the right feedback from your customers and members?  Let us know by posting a comment below or tweet at @Bankingdotcom.