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Countries covered: Europe
This report analyzes changing patterns in bank loyalty among customers in Europe. Not only has Datamonitor measured trends and drivers in 7 European countries and regions, the report presents strategies and tactics for banks to survive and grow in today's fast changing environment. Scope: * Exclusive loyalty survey carried out with 100 bank executives in Europe probing fact and opinion on bank loyalty complemented by IMPACT consumer data. * Quantitative indicators on major trends, market drivers, bank tactics, product hotspots as well as customer attitudes and socio-economic profiles * Multi-product: accounts, cards, lending, mortgages, savings, securities, funds, life and pensions and general insurance. * European scope with country comparisons. Countries included: France, Germany, Spain, Italy as well as the Benelux and the Nordic regions. Report Highlights: The problem of declining loyalty is most acute in three countries: Spain, the UK and Italy. Almost all interviewees there call loyalty a top priority and trend indicators are 44% higher on average there than for Germany, France and the Benelux. In markets where customers are withheld from using more providers for different products artificially, customer turnover rates soar. Moreover, once customers become disloyal, there is no natural plateau to how far this can go. On the contrary, once more switching and shopping around takes root, the market has a tendency to spiral out of control. Bankers in Europe count on product packages to tie customers in and react with service initiatives if and when this fails. What they should do is use these two tools exactly the other way around. Reasons to Purchase: * Acquire a unique tool measuring disloyalty trends in your market. What do my retention and cross-sales figures mean? How will they evolve? * See what drives customers across the market to shop and switch more between banks. How can customers be won or won back? * Receive intelligence on what your peers use to maintain loyalty. Am I using the same tools as them? Is my strategy adapted to current developments? |
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