Use the tools below to copy the article in plain text form, or you can copy it as HTML, ready to copy and paste directly into a web page.
HTML <html> <head> <title>Business Banks Need to be More Switched On</title> </head> <body> <h1>Business Banks Need to be More Switched On</h1> <div class="info">Author: <a href="author_1_93764.html">Marco Barra</a></div><div class="body">In our 2007 Mystery Shopper survey, Business Moneyfacts approached 10 business banks, posing as a micro business looking to switch current account provider. Whilst any survey of this nature can be somewhat subjective, it is important to stress that banks only get one chance to impress. We may have been a new customer won or lost, so creating an excellent impression is vital if you want to stand out from the crowd in what is an extremely competitive market.<br /> <br /> Banks Surveyed:<br /> - Abbey<br /> - Alliance & Leicester Commercial Bank <br /> - Bank of Scotland <br /> - Barclays <br /> - Clydesdale/Yorkshire Bank <br /> - Co-operative Bank <br /> - HSBC <br /> - Lloyds TSB <br /> - NatWest <br /> - Royal Bank of Scotland <br /> <br /> Websites: <br /> Alliance & Leicester Commercial Bank and HSBC were both slightly ahead of the field, with the former edging ahead due to an excellent Business Advice section.<br /> <br /> Telephone: <br /> Alliance & Leicester Commercial Bank and HSBC again led the way, with the final positions being reversed and HSBC narrowly taking the plaudits. The fluent manner and professional approach of HSBC, providing information and advice in a concise manner, fostered a rapport and ‘relationship’ unmatched even by A&LCB.<br /> <br /> Business banks have always insisted that the Competition Commission et al have got it wrong; that service is the biggest issue - not pricing. What seems to be highlighted by our survey is that the issue of service is indeed important, but not perhaps in the same way as the banks believe. The level of perceived service is decided before a banking relationship begins. So get the initial contact right and the level of new business gained could soar as a result.<br /> <br /> In today’s competitive environment our results highlighted that some providers are clearly more switched on than others.<br /> <br /> It seems that any small business looking for a new bank not only needs to weigh the price on offer against the level of service, but also more surprisingly to identify a bank that wants its account, as not many of the banks surveyed went out of their way fight for our business, which after all was a warm lead.<br /> <br /> The intangible but important benefits that arise from building relationships begin with the first contact. From our mystery shopping experience, it would seem that banks need to beef-up their approach to switching and to offer a more knowledgeable and proactive first contact to potential new customers.<br /> <br /> As firms are becoming inclined to shop around for the best deal banks should take note; it’s time to tune in as the switch is on.<br /> <br /> Why not check out the best deals currently available for business banking customers.<br /> </div> <div class="source">Article Source: <a href="http://www.articlealley.com/article_127728_19.html">http://www.articlealley.com/article_127728_19.html</a></div> <div class="author"> <div class="authorBio">Moneyfacts.co.uk is the UK’s leading independent provider of personal financial information and our data is used and trusted throughout the financial industry.</div> <div class="authorUrl"><a href="http://www.moneyfacts.co.uk" target="_blank">http://www.moneyfacts.co.uk</a></div></author> </body> </html>
Text Business Banks Need to be More Switched On Author: Marco Barra In our 2007 Mystery Shopper survey, Business Moneyfacts approached 10 business banks, posing as a micro business looking to switch current account provider. Whilst any survey of this nature can be somewhat subjective, it is important to stress that banks only get one chance to impress. We may have been a new customer won or lost, so creating an excellent impression is vital if you want to stand out from the crowd in what is an extremely competitive market. Banks Surveyed: - Abbey - Alliance & Leicester Commercial Bank - Bank of Scotland - Barclays - Clydesdale/Yorkshire Bank - Co-operative Bank - HSBC - Lloyds TSB - NatWest - Royal Bank of Scotland Websites: Alliance & Leicester Commercial Bank and HSBC were both slightly ahead of the field, with the former edging ahead due to an excellent Business Advice section. Telephone: Alliance & Leicester Commercial Bank and HSBC again led the way, with the final positions being reversed and HSBC narrowly taking the plaudits. The fluent manner and professional approach of HSBC, providing information and advice in a concise manner, fostered a rapport and ‘relationship’ unmatched even by A&LCB. Business banks have always insisted that the Competition Commission et al have got it wrong; that service is the biggest issue - not pricing. What seems to be highlighted by our survey is that the issue of service is indeed important, but not perhaps in the same way as the banks believe. The level of perceived service is decided before a banking relationship begins. So get the initial contact right and the level of new business gained could soar as a result. In today’s competitive environment our results highlighted that some providers are clearly more switched on than others. It seems that any small business looking for a new bank not only needs to weigh the price on offer against the level of service, but also more surprisingly to identify a bank that wants its account, as not many of the banks surveyed went out of their way fight for our business, which after all was a warm lead. The intangible but important benefits that arise from building relationships begin with the first contact. From our mystery shopping experience, it would seem that banks need to beef-up their approach to switching and to offer a more knowledgeable and proactive first contact to potential new customers. As firms are becoming inclined to shop around for the best deal banks should take note; it’s time to tune in as the switch is on. Why not check out the best deals currently available for business banking customers. Article Source: http://www.articlealley.com/article_127728_19.html About the Author: Moneyfacts.co.uk is the UK’s leading independent provider of personal financial information and our data is used and trusted throughout the financial industry. http://www.moneyfacts.co.uk
return to article
