CSP offers benchmark measures of customer advocacy, loyalty and satisfaction.

• Position: New Products

Wouldn't it be nice to know how your bank ranked with comparable institutions in terms of customer advocacy, loyalty and satisfaction? Now, you can. Customer Service Profiles (CSP) LLC, Omaha, Neb., has announced the compilation of data from interviews with 1,500 bank customers and credit union members across five national regions. The research, which is part of CSP's Customer Relationship Assessment product, is designed to provide a meaningful measure of customer advocacy, loyalty and satisfaction, including key drivers of each. The research enables financial institutions of all sizes to benchmark their report cards against competitors.

"If financial institutions want to reduce "churn" and gain new customers or members, they need to know how well they are doing in satisfying consumers, fostering loyalty and creating advocacy," said CSP President Steve Kutilek. However, he adds, having accurate competitive data is only part of the answer. "CSP's scores are presented in a way that everyone can understand them and are immediately actionable so that financial institutions can use them to improve their operations and increase performance."

Scores encompass key metrics of satisfaction, loyalty, advocacy and a variety...