Most are comfortable not banking with you
Most people are happy with their present bank or credit union. Here’s a stat to prove it. According to a 2017 American Bankers Association survey, nine in ten Americans rate their bank’s service as good or excellent. They go on to say that a “customer-centric model” that emphasizes “user-friendly experiences” is key to meeting consumer expectations.
However, we can also look at a global survey by FIS that reports only 23% of consumers believe their bank is meeting their expectations. So which is it? Here’s the kicker: Consumers are only happy with what they know to be happy with.
If you seek to win new members or customers, you have to say with clarity specific reasons why. Why should people do business with you and not the competition? If there is no perceived difference in value, give meaning to why people should bank with you.
Let’s take a look at the world of breads, cheeses and meats – sub sandwiches. Subway, Jimmy John’s, Firehouse and Jersey Mike’s each have their own brand attitude.