This blog post was written by our guest blogger Marc Bovenzi, Business Development Associate at Research & Marketing Strategies (RMS) a bank and credit union market research firm.
RMS partners with banks and credit unions to improve marketing and management agendas through market research. Are you ready for 2014? Use research to reach full market potential next year.
- Satisfaction Levels: Where do we stand? Is understanding your customer or member a top priority? Conducting satisfaction surveys with RMS will give you insight into how you can improve operations and attract new business. Bad experiences and lackluster offerings can add up to declining profits and ultimately a failing business. Read this RMS case study on a bank investigating it’s customer experiences when (1) opening a new account and (2) opening/refinancing a loan.
- What’s Our Current Image and Awareness Levels? If particular branch locations are under performing; it should not be accepted as the “norm”. RMS has several ways to analyze and research key contributing factors driving image and awareness. Read this RMS case study regarding this topic solved through a telephone survey. RMS can quantify the awareness of your branch location; measure impressions of recent advertising; understand knowledge level of offerings; and identify key drivers for becoming a customer or member of your financial institution.
- What New Channels are Financial Industries Acting On? Besides the core business of loans and mortgages, banks and credit unions are seeking other viable ways to meet the needs of its customers or members. Mobile banking is becoming increasingly popular. RMS can conduct website usability surveys using heat mapping or focus groups. Determine the ease of use to navigate your website and test appeal of specific content. If your bank or credit union has not taken the next step into offering a mobile banking app or is thinking about offering other services; conduct a study with RMS to determine the level of interest to support your next steps.
Are you ready for some research? If you are a bank or credit union and would like to further discuss some options for market research please call the RMS Business Development office at (866)-567-5422. You can also reach us by email at SandyB@RMSresults.com or MarcB@RMSresults.com.