Bank Customer Surveys

Amplitude Research can provide full-service design and administration of a credit union survey or bank customer satisfaction survey, including data collection and reporting analysis. Typically, our approach is to assign a senior researcher or statistician to the study, who would provide such services as questionnaire development, sample review and selection, sampling targets, data monitoring, data analysis, and report writing.

In many cases, banks and other financial institutions group their customers into two or more segments such as business banking and consumer banking, respectively. In other cases, a bank customer satisfaction survey would be tailored to certain types of transactions such as mortgage banking, home loans, personal banking, business loans, or other key segments. In the end, a bank customer satisfaction survey should be custom developed for each segment; although depending on which segments participate, commonality of questions among segments can often enhance data analysis.

It may also be desirable as part of a credit union survey or bank customer survey to track business locations. This would require adequate sampling from each banking location or, in the case of an overall bank survey, adequate representation from each location. Given the goals of the project and sampling budget, our data analysis can identify any key differences in results based on region, state, location, type of customer, or other metric. Typically, our bank survey researchers ask for as much pre-identified customer data as possible to decide how best to design the study, report the results, and determine which questions should be included for segmentation purposes.

Methodology For a Credit Union or Bank Customer Satisfaction Survey

We often find that banks or other financial institutions have a significant number of customer records with high quality telephone and mailing contact information. Many also have a substantial number of reliable email address records; although the percentage of available / high quality email records is often less than 20% of the total client sample. This can lead to a somewhat unusual situation as compared to typical customer satisfaction surveys in other industries. As a result, if an online bank customer survey or credit union survey is desired, we prefer hands-on involvement in sample selection to insure a representative sample. Put a different way, those customers for whom email addresses are available may not correctly represent the credit union or bank customers or particular segments. In those cases, supplemental surveying via telephone interviewing can be one solution - - although dual mode comparison by one of our professional researchers is often recommended.

Another area of potential consideration in a credit union survey or bank customer survey is a market research study of persons who bank in the same geographic areas as our client's customers. This might or might not include existing client customers, depending on how the study is designed. If the locations are non-rural, or highly populated, an online survey using web panelists is generally a highly cost-effective solution for this part of the research program. Otherwise, telephone surveys would likely be the best choice. The market research survey would include questions asking for the banking demographics of each respondent, before querying them about general satisfaction with their current bank or credit union and other attributes. This data can then be used for comparison purposes with the customer data set, and provide a customized benchmark based on questions actually used in the bank customer satisfaction survey along with geographically matched sample.