National Benchmarking from Allegiance Takes the Pulse of Banking/Credit Union Customer Loyalty and Engagement.- Monthly Consumer Survey Gives Banks and Credit Unions a Way to Monitor Trends and Measure Against Competitors - SALT LAKE CITY -- Allegiance allegiance, in political terms, the tie that binds an individual to another individual or institution. The term usually refers to a person's legal obligation of obedience to a government in return for the protection of that government, although it may have reference , Inc., a leading provider of Voice-of the-Customer (VOC (Vertical Online Community) See vertical portal. ) solutions that help companies capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. customer and employee engagement, today announced mid-year results of its National Benchmarking/Pulse of America survey. The ongoing survey of consumers, which is the foundation of the Allegiance National Benchmarking service, tracks and compares customer satisfaction, loyalty and engagement trends at U.S. banks and credit unions and determines the specific factors that have the strongest impact on customer engagement. The Allegiance National Benchmarking service is used by organizations to compare their strengths and weaknesses against local, regional, and national competition. The subscription service includes an annual review of benchmarking data, engagement trends, and expert insights. Allegiance also provides subscribers with a quarterly review of trends and continuous access to the data for their industry. Subscribers also receive any supplemental analysis, studies, or findings that arise from the survey. Mid-year findings just released by the Allegiance National Benchmarking/Pulse of America for banks and credit unions include: * Customer/member expectations of banks and credit unions have shifted away from the more traditional roles of industry leader, guardian and protector protector /pro·tec·tor/ (-tek´ter) a substance in a catalyst that prolongs the rate of activity in the latter. of customer/member finances. * Credit unions continue to have much higher member/customer engagement levels than banks, but the gap is narrowing. Credit unions saw a significant drop in customer engagement from 57 percent to 49 percent between January and June 2009. [Note: This was the sharpest drop Allegiance has seen in credit union engagement since the Allegiance National Benchmarking/Pulse of America survey began in October 2007.] * Engagement levels among older customers have fallen. While levels remained constant for customers 54 and younger, customers 55 and older saw a ten percent drop on average in engagement. * Both banks and credit unions appear to be focusing their customer/member engagement resources on the most profitable demographics The attributes of people in a particular geographic area. Used for marketing purposes, population, ethnic origins, religion, spoken language, income and age range are examples of demographic data. . While engagement fell by eight percent for customers with incomes of $50,000 or less, engagement rose by three percent for customers with incomes of $50,000 - $150,000. "The Allegiance National Benchmarking service uncovers what is driving customer engagement in specific industries. Our professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. team helps companies apply that to their business to increase sales and profits," said Greg Heaps, vice president of professional services at Allegiance. "By comparing the national survey findings to their own customer loyalty and engagement results, companies can better develop customer retention strategies and improve their competitive position." The Allegiance National Benchmarking/Pulse of America survey is a nationwide, census-balanced survey that is distributed to 600 consumers each quarter. Allegiance surveys both customers and employees at financial institutions to study loyalty and engagement. Allegiance also conducts custom benchmarking surveys for clients in other industries. This mid-year report examines responses from January to June 2009, comparing trends from Q1 to Q2. For a full copy of the Allegiance National Benchmarking Pulse of America Report for Banks and Credit Unions August 2009, visit http://www.allegiance.com/poareport. Supporting Resources * Allegiance press room * Voice of the Customer Blog (http://blog.allegiance.com) * Become a Fan of Allegiance on Facebook * Follow Allegiance on Twitter A Web site and service that lets users send short text messages from their cellphones to a group of friends. Launched in 2006, Twitter (www.twitter.com) was designed for people to broadcast their current activities and thoughts. (http://twitter.com/allegiancetweet) * Allegiance customer success stories and white papers About Allegiance, Inc. Allegiance, Inc. offers next generation Voice of the Customer (VOC) and feedback management software to help organizations grow customer and employee loyalty and engagement. The Allegiance Engage Software platform facilitates survey creation and gathers responses and unsolicited un·so·lic·it·ed adj. Not looked for or requested; unsought: an unsolicited manuscript; unsolicited opinions. unsolicited Adjective comments in real-time 1. real-time - Describes an application which requires a program to respond to stimuli within some small upper limit of response time (typically milli- or microseconds). Process control at a chemical plant is the classic example. into a centralized cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. online system, saving time, effort and money. Allegiance solutions measure customer and employee engagement, revealing precise actions to grow engagement and increase revenue. Allegiance Enterprise Feedback Management (EFM (Ethernet in the First Mile) Using Ethernet to provide connectivity from the customer to the carrier. See 802.3ah. ), predictive analytics Predictive analytics encompasses a variety of techniques from statistics and data mining that process current and historical data in order to make “predictions” about future events. , and professional services combine to help businesses capitalize on engagement. For more information about Allegiance, visit http://www.allegiance.com. |
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