Techniques for measuring customers' satisfaction in Banks

• Author: Melnic E.L.
• Pages: 23-32

Bulletin of the Transilvania University of Braşov

Series V: Economic Sciences • Vol. 9 (58) No. 1 - 2016

Techniques for measuring

customers’ satisfaction in Banks

Elena Lidia MELNIC1

Abstract: The major concern of banks today is to recover and maintain customer trust.

Customers need to feel that banks are considering their best interests. Customers are seeking

for easy and personalized information. They want to better understand their financial

situation and to control it. They want to know both the benefits, as well as the risks. Clients

want to work with banks that are concerned about them and about their personal goals.

However, only an attractive offer of banks is not the key to success today if is not supported

by a superior service culture, that can make notable differentiation in the market. Many

banks all over the world are systematically measuring how well they treat customers,

identifying the factors shaping satisfaction, and changing operations and marketing as a

result. Wise banks measure customer satisfaction regularly because it is one key to customer

retention.

Key-words: customer service culture, net promoter score, customer satisfaction, banking

1. Introduction

Nowadays, the changes in the banking system that is marked by the relaxation of the

legislation, the emergence of new technologies and increased competition have led

to significant changes in consumer behaviour, giving them greater flexibility and

allowing them to modify faster their buying behaviour of services and banking

products.

It can be seen that banks strategy increased in concerns about maintaining a

connection with existing clients in order to gain their loyalty, and this could only be

done after a serious research and understanding of their behaviour.

Not to mention, that in past years, due to the drastic changes that have

occurred in the international financial and banking market, banks are perceived by

population as the cause of many negative events in the market, and yet without the

banks, economy can’t exist. In a mature market, characterized by oversupply, the

expansion cannot be achieved by attracting new customers, but by focusing on the

actual consumers and by strengthen the business relations with them.

1 Transilvania University of Braşov, melnic.elena.lidia@unitbv.ro; elena_melnic@yahoo.com