Are your customers satisfied? Survey says …


Your community bank, and this certainly goes without saying, thrives on relationships.  Sure, offering products and services that consumers want is important, but there are a host of factors that drive customer satisfaction. In today's customer-centric landscape, where CX (Customer Experience) is paramount, success hinges on a banker’s ability to understand their client needs and preferences. What better way to gain these insights than to … well, simply ask. Hence, conducting customer satisfaction surveys stands as a crucial instrument for gauging satisfaction levels, pinpointing areas for improvement, and elevating the quality of your service.

According to HubSpot, “surveys should go beyond measuring the KPI of satisfaction to identifying the factors that have the biggest impact on customer satisfaction. That way, as soon as unsatisfied customers are identified, the business can quickly respond to the cause of the dissatisfaction and address it.”

The Significance of Customer Satisfaction Surveys

  1. Insightful Feedback

Customer satisfaction surveys act as a direct channel for customers to voice their experiences, opinions, and grievances. This feedback is invaluable, providing bankers with a deeper understanding of client expectations, and providing insights into strategies for tailoring their services accordingly.

  1. Enhanced Service Quality

By analyzing survey data, banks can identify pain points and areas where improvement is needed. This proactive approach helps in refining services, streamlining processes, and ultimately enhancing the overall customer experience.

  1. Customer Retention and Loyalty

A satisfied customer is more likely to remain loyal. By addressing concerns highlighted in surveys, banks exhibit a commitment to their customers' well-being, fostering trust and loyalty which, in turn, reduces churn rates.

  1. Competitive Edge

In a highly competitive industry, banks that consistently deliver exceptional customer service gain a competitive edge. Customer satisfaction surveys aid in staying ahead by constantly adapting to evolving customer preferences.

Methods for Conducting Banking Customer Satisfaction Surveys

Having been in marketing for at least a few decades, and having been involved in all forms of consumer research – including many, many surveys – I think that it’s important to mention here that developing a survey that truly yields useful insights is tougher than one might think.  It’s much more involved than asking a question and offering multiple choice answers.

SurveyMonkey does provide examples of what they deem good survey questions here on their site. They also go on to say this about the challenges of executing a successful survey: “You open the survey in good faith, ready to provide wisdom to the organization that seemed to care about your opinion, only to find leading questions geared toward receiving glowing reviews.”

As you can imagine, although DIY surveys work pretty well, a survey can be tricky. If you feel you're not quite up to the task, you might consider consulting a third-party research professional who specializes in surveys. 

So, what are some of the different types of surveys you should consider? 

  1. Online Surveys

Utilizing online platforms for surveys provides convenience to customers. Email surveys, website pop-ups, or dedicated survey portals allow for quick feedback collection. These surveys should be succinct, easily navigable, and inclusive of various rating scales and open-ended questions. HubSpot and SurveyMonkey can be helpful here. 

  1. Mobile Applications

With the surge in smartphone usage, banks can leverage dedicated mobile apps to gather real-time feedback. Incorporating surveys within the app interface ensures accessibility and immediate responses from tech-savvy customers.

  1. Telephone Surveys

Personalized phone surveys can engage customers more directly, allowing for in-depth conversations to uncover nuanced feedback. They are a fabulous way to learn. However, this method often requires additional resources and can be time-consuming. If you can manage a telephone survey it is, in my opinion, high on the list in terms of gaining useful insights.

  1. In-Person Feedback Mechanisms

Branch visits, although somewhat impractical due to space and resource constraints, provide an opportunity for face-to-face interactions. Implementing feedback kiosks or dedicated service desks encourages customers to express their thoughts and concerns, fostering a brand perception built on trust and inclusion.

  1. Social Listening

Social listening is the monitoring of your social media platforms for any customer feedback, discussion or mention of your brand or products, industry topics, keywords, and more. Monitoring social media platforms enables you to track customer sentiment in real-time. Analyzing comments, messages, and mentions offers insights into immediate concerns and public perceptions.  A blog we posted a while back might be helpful in gaining more insights into “getting the most out of our social media.

Best Practices in Implementing Customer Satisfaction Surveys

  1. Clear Objectives and Questions

Define precise objectives for the survey and craft questions that directly address these goals. Clarity ensures that collected data aligns with the bank's improvement strategies.

  1. Consistent and Timely Surveys

Implement regular surveys at different touch points along the customer journey. Timely feedback helps in capturing immediate experiences, offering a holistic view of the customer lifecycle.

  1. Analyze and Act

Mere data collection is insufficient. Banks must diligently analyze survey results and take actionable steps to address concerns and capitalize on positive feedback.

  1. Engage Customers

Encourage participation by demonstrating the value of feedback. Offering incentives, such as discounts or entry into prize drawings, motivates customers to share their opinions.

  1. Transparent Communication

Once changes are implemented based on feedback, communicate these alterations to customers. Transparency in acknowledging their impact fosters trust and reinforces the importance of their input.

Get Started

Prioritize customer satisfaction through efficient, effective surveys and you will establish an image of your bank as responsive, trusted and customer-centric. Adopting diverse survey methods, analyzing feedback diligently, and acting upon it in a timely manner are the cornerstones of achieving unparalleled service, which is a necessity in today’s highly competitive banking services marketplace. 

About Bank Marketing Center 

Here at – one of the industry’s most well-regarded providers of professionally-designed marketing materials to local banks – our goal is to help you with that topical, compelling communication with customers that will help you build trust, relationships, and revenue.  

Now, through our partnership with ChatGPT, creating your own custom content is even faster and easier. With the addition of AI-assisted content development, our clients can very quickly generate articles they need for newsletters and blogs and any other content they might need in their marketing efforts.

To view our marketing creative, both print and digital – ranging from product and brand ads to social media and in branch signage – visit  You can also contact me directly by phone at 678-528-6688 or via email at As always, I welcome your thoughts.