Who’s Switching Banks & Why?

Next week, we’ll be releasing our 2012 Bank Customer Switching and Acquisition Study (SM). This study will explore the triggers that cause customers to shop for a new bank or a new account, their perceptions of bank brands, and how they make their purchase decision. The study will also include information on those who switched primary financial institutions in the past 12 months.

The customers of the top 25 financial institutions in the industry, as well as customers of small banks and credit unions are targeted in this study.

Focusing on the stages of the purchase process, the 2012 Bank Customer Switching and Acquisition Study will answer the following questions:

  • The Shopping Process – Who is shopping? What prompts a customer to shop? What are they shopping for?
  • Awareness – What drives greater awareness?
  • Consideration – How are customers shopping? What impacts a financial institution’s consideration? Why are financial institutions avoided?
  • Selection – What drives shoppers to select a financial institution?
  • New Account Initiation and On-Boarding – What are the new account initiation best practices? What experience differences improve share of wallet?

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To receive a copy of the press release when it’s available, or to learn about how J.D. Power and Associates can help you integrate the Voice of the Customer into your products and services.

 

 

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