Study: Banks' rapport missed
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Banks need to do a better job of making their small business customers feel special, an annual survey by J.D. Power and Associates indicates.
When small business customers are greeted by name, it has a big impact on overall satisfaction, the nationwide survey found. Still, less than half of business customers surveyed, 47 percent, said they were welcomed that way the last time they visited their bank.
In comparison, about 64 percent of retail customers said they received a personal greeting.
"Simple gestures, like greeting customers by name as they walk in, go a long way in providing a satisfying experience," said Jim Miller, J.D. Power's senior director of banking.
"Due to the value of their business to the bank and how frequently they visit the branch, small business banking customers expect, and deserve, a level of service greater than that of retail banking customers."
Overall, Huntington Bank ranked highest for small business customer satisfaction among the 26 banks surveyed, up from No. 2 last year.
The survey examined eight factors, including the account manager, product offerings, problem resolution and fees.
Among other banks with a local presence, PNC finished at No. 13 (down from No. 10); Citizens ranked No. 21 (down from 11), and Fifth Third was No. 23 (down from 15).
For the complete list, visit http://www.jdpower.com/content/press-release/5wxWIuZ/2012-u-s-small-business-banking-satisfaction-study.htm.
First Published November 10, 2012 12:00 am