From banking and insurance to investment and wealth management, the Financial Services industry is emerging from a challenging phase in its evolution. Recognizing the need for a different business model, many companies are adopting major structural and operational changes.
What remains a priority is a comprehensive understanding of customers and their needs. More than ever, strength in this area will give a firm a distinct competitive advantage. How is the financial crisis changing customer behavior? What are the changes in product preferences? How is customer experience playing into choices of consumers? Loyalty Research Center helps financial services firms understand their customer’s loyalty profile, determining the mix of Loyal, Neutral and Vulnerable customers. Deeper analysis reveals what keeps customers loyal, what makes them neutral or ambivalent and a hair away from switching to a competitor and what makes some actively seek alternatives. This is powerful input to strategy. Creating and delivering an offering – a service, a product and an experience – best aligned to the needs of the customer ensures sustained growth in revenue & profitability.
Loyalty Research Center has extensive experience designing and implementing loyalty research studies involving consumers, brokers, distributors or other intermediaries of financial institutions.