Kantar released a study last week that stated that women are profoundly affected by customer experience when it comes to ranking their banks. The study stated that overall, banks can grow their share of deposits by as much as 16.5% by improving customer experience. As for women specifically, the study concludes the following:
In their analysis, Kantar underlines the clear benefits of delivering strong customer experience:
- Only 61% of female bank customers stay with their bank for more than five years due to being less satisfied with their bank than men.
- Women’s preference score for their bank was at 65 verses 76 for men.
- Ironically, women are less willing than men to take up additional products at their bank, with men being at 73% and women being at 64.3%.