In this era we live, e-banking is an integral part of our daily livings because its hassle free and no one wants to make transactions in a traditional way anymore. People are improving theirselves so the banking system. In the past, we couldn't able to make online transactions such as paying bills, sending money to someone even abroad, paying fees of universities online, insurances, and much more.
Life becomes more easy with e-banking. So, consumer satisfaction in e-banking is crucial to ensure for several reasons and I would like to mention some of important reasons in below.
Here you go,
BRAND IMAGE & REPUTATION
I would say that this could be considered as a free marketing if a bank got satisfied customers because they share their positive feedbacks regarding the e-banking services and spread the positive word-of-mouth. And, this enhance the brand image and reputation of the banking service provider which interacts more customers that ultimately benefited the bank in various aspects. So make sure that your 99% of customers got satisfied with your provided services.
COST SAVINGS
Resources are being used when you deal with more complaints from the existing customers and it also required efforts to resolve their matters. The satisfied customers less likely to complain about the services and any additional support from the e-banking department which results to less service cost. It is the most cost-effective to make your existing customers satisfied rather than acquiring new customers.
BUSINESS PERFORMANCE
Another reason could be the business performance, in which satisfied customers loved to check the additional banking services such as loans, investments, and insurances. It ultimately helps to increase the revenue and profitability of one's business. Upselling and cross-selling opportunities can be raised from the satisfied customers because they trust banking services provider.
CUSTOMER ACQUISITION
Satisfied customers always tends to share positive feedback, provides solid testimonials and reviews based on their experiences that ultimately helps to influence the decision making process. This way, new customers attracts to your banking services unlike before. Moreover, satisfied customers loved to share their positive reviews to their family, acquaintances, and friends which increase the more popularity of the bank.
CUSTOMER RENTENTION
Retaining customers is crucial for bank businesses so if they are loyal to any of your service provider and stick to it that means that you got a wide space in this competitive landscape. It also helps to repeat business and long-term relationships between the provider and customer. This is how a bank can go faster and competitive with others.
In short, consumer satisfaction is crucial to run an e-banking services that can lead to enhance the brand image and its reputation, customer retention, facilitate customer acquisition, and result in cost savings. Satisfied customers are always being a loyal and returning customer which contributes a lot in the success of e-banking service provider.
