August 2011: Low Hanging Fruit: These Stats Show Opportunities to Best the Competition

Aug 30, 2011 by Confero Inc.

Financial institutions did not meet the needs of over 30% of their customers in 2010.  A survey of 5,000 financial services customers in seven countries also revealed that 35% of dissatisfied financial services customers never made a complaint to someone at the financial institution. For a midsized bank, this represents a revenue risk of approximately $243 million.

Restroom conditions alone can determine if customers will visit again.  A recent study conducted for Cintas Corporation revealed that 94% of customers would not return to a business if they encountered dirty restrooms on their last visit. The most common types of locations (with dirty restrooms) that customers would avoid include restaurants and hotels, both at 79%.  Survey respondents also cited other businesses with unclean restrooms that they would avoid, including car dealerships, retail stores, supermarkets and healthcare facilities.

Many customers are reluctant to relay bad customer service news back to the company. For every customer who bothers to complain, 26 other customers remain silent.”  

Tagged: customer service, retail, banking,

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