Customer Experience Management Study—Australia’s Banking Sector 2015

Customer Experience Management Study—Australia’s Banking Sector 2015

Sample Design

The sample is designed to represents robustly the country’s demographics. Diversity by segments such as state, age, gender, race and urban density is covered.

Online Panels

The two-month online survey was conducted across Australia; more than 􂀀respondents were randomly selected from consumer online panels to answer questions on customer experience attributes for specific industries.

Random Sampling

Consumer panels were approached randomly with an online invitation for this survey. Consumers aged 􂀀 and above who had interacted with their bank in the past 􂀀 months were selected for the survey.

Each consumer was asked to identify their primary bank—one they interacted with the most in the past months and which they consider as their “primary bank” for this period. Feedback was collated mostly on respondents’ perceptions of their primary bank’s performance, on the basis of their most recent experience.

Primary banks with a lower base of consumers have not been included for extensive and detailed analysis in this research.

About this report

Customer experience is the accumulation of customers’ experiences throughout their journey with the supplier, across any and all functions, products/services, and various touchpoints. Frost & Sullivan explores the relationship of the experiences provided by Australia's retail banks. This research service takes a look at the critical factors that influence customer behaviour throughout the three phases—pre-purchase, purchase and post-purchase—of their journey through banks' touchpoints. The research service utilises our proprietary Customer Experience Index (CEI) methodology, as well as the widely used Net Promoter Scores SM (NPS) methodology to understand the dynamics of the interactions between customers and their primary banks.