New Banking Benchmarks Are Now Available
New Banking Benchmarks are available for community banks and credit unions in the Northeast. Our subscriber list has grown by 50% in the past 6 months. These subscribers enjoy a significant competitive advantage over their rivals. Eleven of the top 12 banks in Connecticut subscribe. Request your banking benchmarks today to get access to insights that will help you grow your bank. States covered include Pennsylvania, New Hampshire, Connecticut, Massachusetts, Rhode Island, New York, and New Jersey.
Why Subscribe to Customer Experience Solutions Banking Benchmarks
Current Customer Lifetime Value (CLV) in the Northeast US is $3852. That is the average amount of revenue each household will produce. Banks that measure Customer Experience increase that amount by 19%. Our benchmarks help you pinpoint your strengths and weaknesses – and your competitors’ strengths and weaknesses – in delivering CX so that you can adjust and improve your efforts.
The current average Cost of Acqusition is $301 per household in the Northeast US. Brand measurement and understanding customer needs decreases that cost by almost 30%. Our banking benchmarks provide you with the insight you need to make better decisions and lower the cost of bank customer acquisition.
New England Banks Honored With Prestigious Banking Choice Awards
WEST HARTFORD, CT – Banks from Connecticut, Massachusetts, New Hampshire and Rhode Island have been honored with the 2019 Banking Choice Awards in the categories of Customer Service, Technology & Tools, Community Contribution, and Overall Quality. They were presented at an awards luncheon as part of the Best Bank Expo at the MGM Springfield. In addition, six banks have won best in Connecticut and Massachusetts in their respective categories. These statewide awards for 2019 are the highest honor any bank can achieve. Read more.
Bruce Paul Moderates Panel at Best Bank Expo
Springfield, MA – Bruce Paul moderated the morning session, “Best Practices from Consumers’ Best Banks” at the Big Bank Expo in Springfield, MA. Panelists were: Stephen Lewis, president of Thomaston Savings Bank and chairman of the Connecticut Bankers Association; Todd Tallman, president and treasurer of Cornerstone Bank in Massachusetts; and Monica Curhan, Chief Marketing Officer, Florence Bank in western Mass. Read more.
Bruce Paul Speaks at Banking New York Conference
White Plains, NY – Bruce Paul joined 7-time Olympic medalist Amanda Beard and former Navy Seal and author of Inside SEAL Team Six Don Mann to bring you in-depth insight into what it takes to survive in today’s competitive banking industry. Bruce delivered the opening keynote, where he revealed why 14% of customers want to leave big banks, what they want in a new bank, and whether they think your bank or credit union has what they want. Read more.
New Banking Benchmarks Available
The latest benchmarks are now available, and one thing is clear from the results: Banks that want to grow their portion of the market share must focus on customer experience. With only a little more than a third of households considered “highly loyal” to their banks, there is plenty of opportunity to improve what you do and attract new customers as well. Learn more by requesting your bank’s benchmarks.
PA and NH join CT, MA, RI, NY, NJ as states covered by the Customer Experience Benchmarks
Customer Experience Solutions is pleased to announce the addition of two new states to our customer experience benchmarks. For the first time, benchmarks will be reported for both Pennsylvania and New Hampshire, in addition to Connecticut, Massachusetts, Rhode Island, New York, and New Jersey. Learn more by requesting your bank’s benchmarks.
July 2018 Banking Customer Benchmarks Now Available
The latest banking customer benchmarks reveal enormous opportunity for community banks and credit unions, with more than 3 million banking households up for grabs and 30% of businesses open to changing banks. In our latest banking customer benchmarks, we discover that big banks have a loyalty problem. What will it take for community banks and credit unions to step in and take those customers? 4 things hold banking customers back. Learn more by requesting your bank’s benchmarks. View our infographic.
CT and MA Community Banks and Credit Unions Honored at Banking Choice Awards
April 2018 – Community banks and credit unions in Massachusetts and Connecticut have been recognized as top providers of Overall Quality, Customer Service, Technology, and Community Contribution in the first annual Banking Choice Awards.
The Banking Choice Awards – developed in conjunction with The Warren Group and Customer Experience Solutions – celebrate the many banks and credit unions in Connecticut and Massachusetts that provide outstanding service to their customers and members based exclusively on customer feedback. Read the full press release.
Bruce Paul Speaks at Bank World
Watch the full presentation here.
2018 Community Bank Benchmarks Now Available
The 2018 trends in our benchmarks continue to reveal opportunities for success. Community banks must be ready to embrace changes, particularly in the realm of technology, to step up their competition with the big banks. Size is no excuse, with technology being readily available to banks of all sizes, and lack of training is not a good excuse either. No longer can smaller banks cede the higher ground to the larger banks. In our latest Prospect Benchmark results, we have seen that the technology gap between big and small banks is narrowing. While this a result of what is happening inside the banks themselves, as the smaller banks continue to improve managed services, there is a tightening of the gap in a place at least as important: in the minds of consumers. Read more.
New Benchmarks for New York Reveal Community Bank Insights
In this ranking, we can see the impact of the most recent managed services changes several of the banks have undertaken as well as the new customer-facing approach others have implemented. Each bank will be eager to see how they are trending, especially against their key competitors.
This is especially important since 23% of customers are vulnerable and 11% are actively looking to switch right now.
To view the individual results for any single bank on all 50 metrics, in New York City, or anywhere else in the tristate region, please email firstname.lastname@example.org.
Top Ten Banks for Customer Service in Connecticut Ranked in Latest Customer Benchmark Survey by Customer Experience Solutions
WESTPORT, Conn.–(BUSINESS WIRE)–Customer Experience Solutions (CESCX), an independent research and consulting firm, has released the latest Customer Service rankings for Connecticut banks from its Customer Benchmark, a large-scale study of bank customers in each of the eight Connecticut counties. The study was conducted in October and November 2016 and provides a fresh look into a very competitive banking market. Read more.