Bank'd2
What do consumers want from financial institutions?
Lisa R. shared 3 months ago
According to a recent survey of nearly 5,000 US consumers, the number one thing consumers say they want from their FI is a nearby location and good service. These were selected more than twice as much as any other option (nearby locations, good service, product/service quality, good reputation, product/service variety, low prices, or none of these).
“It turns out that Seniors are the most interested in service and Gen Xers showed the most interest in nearby locations.” Any thoughts on this?
Mike T.
Improving customer service is something that any FI can always work on, but my hypothesis as to why Gen Xer and Boomers chose what they did is as follows:
Gen Xers aren’t as concerned about service because they like to do things themselves. They don’t want to depend on tellers or personal finance reps to manage their money. Adding features like remote deposit capture or joining the Credit Union Service Center network might satisfy their call for “nearby locations.”
Boomers are most concerned about service because they like doing things the way they always have. They like to be served, just like in the olden days when you could have your gas pumped for you or sit down for a nice shoe shine. If you market is that audience, prepare your staff to be über friendly and flexible as they’ll be bending over backwards to serve these customers.