While many banks and credit unions use surveys as their primary form of customer feedback, some continue to rely on mystery shopping. Mystery shopping may be effective in certain cases, but it is not the best way to hear the voice of the customer.
Denver, CO (PRWEB) October 05, 2011
Prime Performance announced today that it has published a new white paper entitled “Why Mystery Shopping Does Not Measure Customer Satisfaction at Banks and Credit Unions.”
With all of the advantages that come with high levels of customer satisfaction, it is no wonder that most banks and credit unions want to measure their customer satisfaction. Many banks today will claim that they measure customer satisfaction through mystery shops. While mystery shopping can play a role in improving the customer experience, it does not measure customer satisfaction. This white paper from Prime Performance discusses why mystery shopping does not measure customer satisfaction, the challenges with mystery shopping, when using mystery shopping makes sense and explains why telephone customer surveys are a superior approach for banks and credit unions.
“We believe the best way to get customer feedback and measure customer satisfaction and loyalty is to talk directly to the customer,” said Jim S. Miller, President of Prime Performance. “While many banks and credit unions use surveys as their primary form of customer feedback, some continue to rely on mystery shopping. Mystery shopping may be effective in certain cases, but it is not the best way to hear the voice of the customer.”
Available as a free download here, the “Why Mystery Shopping Does Not Measure Customer Satisfaction at Banks and Credit Unions” white paper outlines the seven major reasons why mystery shopping fails to accurately measure customer satisfaction.
1. Mystery Shoppers Cannot Accurately Gauge Customer Satisfaction
2. Mystery Shoppers Do Not Represent Typical Customers
3. Mystery Shoppers are Not Representative of the Entire Customer Base
4. Mystery Shops Do Not Reflect Variations in Service Based on Time of Day or Day of Week or Month
5. Mystery Shops Do Not Reflect Levels of Service Provided by Different Employees
6. Substantial Variation between Shops Diminishes Value of Results
7. Mystery Shops Do Not Provide Enough Observations to Draw Accurate Conclusions
The white paper discusses other challenges with mystery shopping including mystery shoppers being identified by employees and the unintended consequences of a mystery shop program. The paper also describes when mystery shopping makes sense, such as when customer contact information is not available or when it is used to supplement a robust customer satisfaction survey program.
According to the white paper, “based on decades of experience, we believe strongly that phone surveys are vastly superior to mystery shopping as a way for banks to gauge the quality of their customer service. Phone surveys are fast, efficient, effective and relatively inexpensive. They deliver data that is reliable, consistent and actionable. Clients welcome phone surveys that allow them to praise – or criticize – companies they know well. In fact, greater customer loyalty is an unexpected benefit of phone surveys.”
The “Why Mystery Shopping Does Not Measure Customer Satisfaction at Banks and Credit Unions” white paper can be downloaded for free by clicking here.
About Prime Performance
Headquartered in Denver, Prime Performance works with financial institutions to increase profits by developing and implementing a superior client experience. Since 1989, the company has specialized in measuring the customer experience through live phone interviews and providing the tools and training needed for financial institutions to elevate the level of service they provide their clients. Learn more about Prime Performance by visiting the company online at http://www.primeperformance.net/.