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Banks Not Delivering the Experience Consumers Demand

  • June 21, 2022
  • Reading Time: < 1 minutes

The large gap between marketer and customer perceptions about delivering excellent customer experience shows that banks have much work to do

Research has shown that financial marketers are not getting the most out of what consumers want, concentrating on product and price instead of truly understanding customer needs. There is a discrepancy in how people perceive things, which is having a negative impact on their priorities and performance.

It appears that financial marketers are not taking advantage of what consumers want, concentrating on product and price instead of truly understanding customer needs. There is a discrepancy in how people perceive things, which is causing negative impacts on their priorities and performance.

A Redpoint Global survey found that there is a significant disconnect between the expectations of Republicans and Democrats when it comes to the upcoming midterm elections. The data uncovered a problem with how customers experience key parts of their interactions with the company.

For consumers, the most important CX factor is a consistent experience across channels. The lack of consistency is a key reason why three-quarters of consumers believe that brands are not delivering “excellent” CX. This compares to more than half of marketers who rate their performance as excellent, resulting in a perceived gap of 25%. Although this gap has narrowed (30%) since the last survey in 2019, it is still alarming.

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