Banking Mystery Shopping and Customer Experience Research Case Studies

Cross Selling and Referrals: Bank Branches

A regional bank with 300+ branches was interested in ways to get their tellers to focus on referring customers to the platform for additional product opportunities. However, they were concerned about how to roll out the training. They were also concerned about introducing another criteria to their mystery shops and how that new criteria might impact the mystery shop scores going forward. Confero assisted the client with developing a training rollout schedule for training branch associates. Survey questions were designed to capture the information without having an impact on the branch mystery shop score during the training phase. In the first year alone, one district had over 30% of their tellers offering additional product suggestions to customers.

Head to Head Competitive Shop Analysis: Brokerage Services

A national online brokerage firm was interested in comparing their hold times, servicing and selling skills with a group of their competitors. The client had specific criteria to apply consistently to all firms in the study, so that appropriate comparisons could be made. The client also wanted the study to be strictly confidential so that no shoppers would even know which company had commissioned the study. Confero designed the study in such a way that shoppers did not know which firm was being shopped. In just the first phase of the program, Confero shopper reports indicated significant factors that inhibited the client’s target customers from locating the client’s website, brick and mortar locations and contact information.

Measuring Internal and External Customer Service

A regional bank needed to identify ways to identify good customer service interactions, for both internal and external customer service. The bank’s philosophy asked associates to serve customers well—or serve someone who is. While bank management knew a mystery shopping program would assist them with heightening customer service awareness, they were seeking solutions for identifying those in the bank who were serving internal customers well. Confero assisted the bank with developing communication about the internal customer service program. A survey was developed for use with the program, so that branch employees who were served well as internal customers could report on their positive experiences. Most all departments of the bank participated in the internal customer service campaign, including mortgage lending, consumer lending, operations, etc. Therefore, the bank was able to achieve its goal of a consistent, on-going customer service measurement program for internal and external customer service.

Head to Head Competitive Shop Analysis: Bank Branches

A major US bank needed to determine competitive customer service advantages and deficiencies as it expanded its footprint into new markets. Its recent expansion into new markets was a result of an acquisition and the bank needed to quickly size up the competitive landscape, as the bank was competing in the new markets against a bank it did not come up against in other areas. Confero developed a mystery shopping and mystery calling program in which shoppers visited and called the bank’s branches as well as the nearest competitor branch to inquire about services. In addition, Confero sent customers of the bank, and customers of the competitor, into their respective branches to pose an account issue or question to see how service issues were resolved. The resulting head-to-head comparison illuminated the competitive situation and allowed the bank to zero in on specific service behaviors which would make the most difference in these new markets being served.