Comerica Ranks Highly in the 'ath Power Small Business Banking Study'
Comerica has been ranked #1 in the Midwest and #2 in the South in "The ath Small Business Banking Study™," which annually examines small business customer experience at banks nationwide. The study from ath Power Consulting, a leading financial services research and strategy firm, is based on more than 800 in-branch visits by prospective small business owners at banks across the U.S. Results of the study were made public by ath Power Consulting on January 7, 2014.
The ath Power Small Business Banking Study™ revealed what small business clients expect from their banking relationship, gaps in the service experience and how banks measured up in this all-important market segment.
A significant finding from this year's study was the impact of a bank's mobile banking offering. Sixty-six percent of small business owners said they would be likely to switch banks for one with a superior mobile offering.
Results also revealed that bankers from the highest rated banks were significantly better at determining needs and building rapport with prospective customers. Of those small business owners who reported that the banker built a rapport with them, 91% said they would become a customer compared to 28% of those who did not.
"Personal connections remain critical for banks seeking to acquire new small business customers," said Frank Aloi, CEO, ath Power. "The most successful institutions are training bankers on how to build rapport and then using applicable research and coaching to continuously improve."
About the Study
Now in its sixth year, The ath Power Small Business Banking Study™ is a detailed assessment of the sales and service processes, product and service offerings, delivery methods and customer experiences of the nation's premier institutions within the small business banking target market. Visit www.athpower.com/home/smallbusinessbanking.php to learn more or order this report.
About ath Power Consulting
ath Power is a premier provider of customer experience solutions for the financial services industry, offering competitive intelligence, survey research, mystery shop study, compliance auditing, market analyses, employee training and development, and strategic consulting. Since 1997, ath Power has helped improve customer retention, build brand loyalty, ensure compliance and increase profitability, performance and market share for financial services organizations across North America. To learn more, please visit www.athpower.com.