The results of Market Force Information’s annual US banking study are in, and it’s good news for the retail banks. Consumer sentiment appears to be improving, as evidenced by the fact that 57% of those surveyed are very satisfied with their relationship with their primary bank – that’s up 8 percentage points over last year. Banking customers are also more inclined to recommend their primary bank to friends or colleagues.So why, specifically, is satisfaction up? Which aspects...
Businesses that don’t think reviews on social media matter are making a huge mistake. Users on social media platforms can have an immediate and deleterious impact on the bottom line.Just ask the Starbucks CEO after staff at a Philadelphia store called police on two African American men waiting to meet a friend. The interaction was caught on a smartphone and went viral. What followed was the shutdown of all locations nationwide as a training was conducted for all employees.Or...
Customer satisfaction surveys allow you to hear the voice of your customer at both the brand and location level. It can be a powerful tool in providing actionable insights to every level of the organization, and ensuring your customers have a mechanism for providing feedback to help you improve your service delivery and the customer experience.There may be many reasons for collecting personal data during the course of a survey. You may want to incentivise participation in...
For emerging restaurant concepts, scale is the name of the game. Increasing the number of locations is the quickest way to obtaining meaningful additions to revenue; however, the industry is littered with brands that didn’t get it right—chains that grew too much too quickly. There is a delicate balance between growth and instilling processes that ensure quality and consistency at each location. The strongest brands provide the same experience regardless of where the...
Many restaurant chains are claiming their traffic is down because of Millennials' changing dining habits. And it is true that we are becoming a nation of “autonomous customers” who research restaurant reviews and move easily between brands. Another change affecting Millennial restaurant traffic is an increase in food-delivery services (see “Food-delivery services are exploding," October 10, 2017.)However, flying in the face of the assertion that Millennials are the...
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