Contacts: Steve Kutilek, President and CEO Cheryl Bast, Director
Customer Service Profiles, LLC Trade Press Services
12020 Shamrock Plaza, Suite 310 2854 Sapra St.
Omaha, NE 68154-4666 Thousand Oaks, CA 91362
800 841-7954 x112 847 622-0624
For Immediate Release – May 14, 2008
CSP Announces National and Regional Benchmarking
Omaha, NE – Customer Service Profiles, LLC (CSP), an industry leader in providing Voice of the Customer research services and improving performance for the financial industry, announces the completion of more than 1,500 interviews with bank customers and credit union members across five national regions. This comprehensive research, part of CSP’s Customer Relationship Assessment product, meets the market’s desire for meaningful measurement of customer advocacy, loyalty and satisfaction including key drivers of each. Further, the research enables financial institutions of all sizes to benchmark their report cards against competitors.
“If financial institutions want to reduce “churn” and gain new customers or members, they need to know how well they are doing in satisfying consumers, fostering loyalty and creating advocacy,” said CSP President Steve Kutilek. “However, having accurate competitive data is only part of the answer. CSP’s scores are presented in a way that everyone can understand them and are immediately actionable so that financial institutions can use them to improve their operations and increase performance.”
Scores encompass key metrics of satisfaction, loyalty, advocacy and a variety of attributes related to the overall relationship. Additional statistical analysis identifies the key drivers of loyalty and advocacy so that institutions can focus on the aspects of the relationship most responsible for predicting loyalty and advocacy. Detailed information on what is lacking when ratings are low is also provided. National study norms and benchmarks show how financial institutions are performing compared with national, regional and market competitors.
CSP’s enhanced Customer Relationship Assessment complements its Voice of the Customer transactional research (mystery shopping, post-episodic telephone research, on-line surveys); customer assessments (relationship assessments, recently closed relationships, brand awareness); and internal service assessments (employee feedback on internal service and department collaboration). The enhanced assessment measures issues beyond transaction experiences that can impact relationships, such as economic factors (e.g., CD and money market rates, service fees, loan interest rates), convenience (e.g., branch and ATM locations, telephone banking, internet banking), the range of product and service offerings, and the institution’s ability to instill strong perceptions of valuing the customer’s business.
CSP, with over 20 years of experience in providing Voice of the Customer research and improving performance to the financial industry, has worked with over 100 financial institutions. For additional information, please contact Steve Kutilek, President and CEO at (800) 841-7954 x112.