New Study Uncovers Opportunities For Improved Acquisition And Retention For Brazilian Banks PR Newswire BOSTON, Oct. 24, 2012 BOSTON, Oct. 24, 2012 /PRNewswire/ --ath Power Consulting, a leading financial services research and strategy firm, today announced key findings from their customer experience study conducted at the four leading banks in Brazil – Banco do Brasil, Bradesco, Itau-Unibanco and Santander. Based on 300 in-person audits performed by prospective customers, the study found that fewer than 2 out of 3 would become a customer based on their experience, and only 56% would be likely to recommend the bank to their family and friends. 28% of participants said they were "very satisfied" with their visit, indicating a clear opportunity for these institutions to improve sales and service processes, and ultimately attract and retain more customers. The average score of the banks measured in this study was 57 (on a scale of 0-100). Santander achieved the highest score at 67. In similar ath Power studies, the largest U.S. banks achieve average scores 13 to 18 basis points higher, with top performers averaging in the 90s. To determine scores, study participants answered a variety of sales and service-based questions to describe their experience. Questions were based upon banker behaviors in four key categories - Opening, Interaction, Closing and Overall Satisfaction. Lower evaluation scores are indicative of deficiencies in customer experience. Many participants in the study mentioned long waits before being attended to, with 1 in 5 saying the wait was "unreasonable." Once acknowledged, 40% of prospective customers did not feel that the banker they spoke with provided them with options based on their specific needs, and only 60% cited that their banker interaction made them feel like would be making the right choice for a new bank. Michael McEvoy, ath Power's Managing Director, notes, "By making simple changes to their sales and service protocols, these banks could dramatically improve the experience for both prospects and existing customers. This would help bolster acquisition, retention and revenue." Despite recent public controversies and ensuing negative press, U.S. banks still achieve respectable scores with regard to customer experience, as it has become a standard, yet vital, element in a bank's business strategy. Many institutions have developed approaches that pay off for both the bank and its customers. "As ath Power continues to expand its reach, we are thrilled to be helping financial institutions across the globe to maximize their potential and achieve their business goals, as we have done in the U.S. for nearly two decades," stated Frank Aloi, ath Power CEO. To request a Summary of Findings from ath Power's study on Brazilian banks, please click here. About ath Power Consulting ath Power Consulting is a premier provider of customer experience solutions for the financial services industry, offering customized survey research, mystery shop study, competitive intelligence, market analyses, training and development, and strategic brand planning. Our fully customizable solutions help our clients improve customer retention, build brand loyalty, ensure compliance and increase profitability, performance and market share. To learn more, please visit www.athpower.com. Media Contact: Jessica Hamel ath Power Consulting 978-474-6464, extension 107 email@example.com SOURCE ath Power Consulting Website: http://www.athpower.com
New Study Uncovers Opportunities For Improved Acquisition And Retention For Brazilian Banks
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