JD Power Deep Dive Program
How Synovus Bank Mastered Customer-Centricity with the JD Power Deep Dive Program
How Synovus Bank Mastered Customer-Centricity with the JD Power Deep Dive Program
To win in this competitive banking environment, banks not only need to perform transactions, but they also need to build lasting customer relationships. Recognizing this, Synovus Bank needed a way to capture direct customer feedback to fuel their "Relationship-First Retail Banking Strategy" in all markets. They had sufficient transaction data through internal contact point surveys but needed a trusted set of insights that measured clients' perceived relationships with the bank - that's when they turned to JD Power.
The Need for Customer Feedback
"We had anecdotal feedback from our bankers and client-facing teams but didn't have direct customer commentary and feedback. Our teams needed concrete facts about what we needed to provide and how our clients felt we were doing. We turned to JD Power not only for its expertise in retail banking research but also because of its known reputation for championing customer satisfaction."
LAURA JOHNSON
Senior Director, Customer Insights and Analytics
Synovus Bank
The JD Power Deep Dive Program bridged this crucial gap between transactional data and customer-perceived worth. This custom research allows brands to supply their own customer sample to gain a holistic understanding of customer experiences and relationships across all markets. Surveys were deployed to Synovus customers using JD Power's proprietary index model with the addition of five custom questions to achieve specific goals, including:
Align offerings to meet customers where they are in their financial journey
Gage how well current products meet client needs
Understand customer perceptions of changes to digital platforms
Identify the reasons why customers choose Synovus over other financial institutions
Leveraging the Deep Dive Program: The Results
With the JD Power Deep Dive Program, Synovus now had 4x the sample size to examine clients’ behaviors, preferences, and needs, among other factors. This enabled teams to implement new processes for their Relationship-First Retail Banking Strategy, maximizing their ability to quickly and effectively move the needle and improve their overall customer experience. JD Power experts analyzed the data captured and compared the results against syndicated findings and internal metrics to produce an executive readout of key results. After analyzing and integrating data and insights from the Deep Dive and the JD Power Retail Banking Satisfaction Study SM, Synovus saw the following results within 12 months:
With the JD Power Deep Dive Program, Synovus now had 4x the sample size to examine clients’ behaviors, preferences, and needs, among other factors. This enabled teams to implement new processes for their Relationship-First Retail Banking Strategy, maximizing their ability to quickly and effectively move the needle and improve their overall customer experience. JD Power experts analyzed the data captured and compared the results against syndicated findings and internal metrics to produce an executive readout of key results. After analyzing and integrating data and insights from the Deep Dive and the JD Power Retail Banking Satisfaction Study SM, Synovus saw the following results within 12 months:
Synovus Results
+15%
first contact resoluton
+107
Points higher satisfaction in advice recieved
+13%
Same-day contact resolution
+9%
Single channel resolution
first contact resoluton
Points higher satisfaction in advice recieved
Same-day contact resolution
Single channel resolution
Conduct A Deeper Analysis of Your Customer Experiences
"The Deep Dive Program allowed us to go deeper to our customer base in our markets, and also to better understand the why in the feedback giving us greater confidence in our client experience strategy."
KATHERINE MEARS, Senior Director, Brand Strategy and Communications
Synovus Bank
"The Deep Dive Program allowed us to go deeper to our customer base in our markets, and also to better understand the why in the feedback giving us greater confidence in our client experience strategy."
KATHERINE MEARS, Senior Director, Brand Strategy and Communications
Synovus Bank
The JD Power Deep Dive Program proactively anticipates shifts in the customer experience, provides profound insights into the influence of customers' recent experiences on overall satisfaction, and pinpoints the unique needs of critical customer segments.
Dive Deep into Direct Customer Feedback
Take your understanding of your customer experience to the next level with JD Power's Deep Dive research program. Request more information today and dig deeper into the power of data-driven improvement.
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Utilize Deep Dives and more JD Power solutions to measure your company’s performance and gain competitive insights.
Utilize Deep Dives and more JD Power solutions to measure your company’s performance and gain competitive insights.