As Consumers Are Turning to the Financial Services Providers They Trust, Companies Must Understand People's Views to Win New Business, According to Cint
MAY 8, 2012 - 14:30 ET
STOCKHOLM, SWEDEN--(Marketwire - May 8, 2012) - During the crisis in consumer confidence currently being experienced across the world, it has become more important than ever for financial service organizations to discover the most pressing issues faced by people across different markets. Targeted research is critical to the development of trustworthy messaging in order to calm the jitters of current and potential clients, says global provider of market intelligence solutions, Cint.
As an example, the past five years have seen the United States undergoing the most far-reaching housing disaster since the earlier decades of the 20th century. While many Americans are crossing their fingers for an end to the crisis, experts say that the pace of foreclosures is set to pick up this year, with some saying that 2012 might see a greater number than 2010. Mortgage management company Lender Processing Services recently stated that housing repossession rose by 28 percent in January. Palm Beach County, Florida, which felt the crunch particularly acutely, saw a sizeable rise in foreclosure rates between the first and 24thdays of March. Three major financial institutions reported growth in the number of foreclosure initiations, with those at Wells Fargo going up by 68 percent, Bank of America's rising seven-fold, and Deutsche Bank experiencing a 47 percent increase over the same period in 2011.
These ongoing difficulties have put financial services groups under a powerfully focused public microscope that scrutinizes every single decision and announcement. Due to this unprecedented level of pressure, these organizations must guarantee that every move they make is based on sound information. Utilizing online market research tools can give companies instantaneous access to the opinions and perceptions of the people they are trying to please in order to create attractive and responsible services, marketing campaigns, and consumer interactions. Products such as Cint Engage, which allows users to create and maintain their own research panels, can deliver information about the viewpoints, concerns, and desires of a targeted audience, such as their own clients. Furthermore, while the platform gives companies access to their own panels, it also provides connections with millions of potential respondents from other organizations' research panels around the world.
CEO of Cint, Bo Mattsson, explains: "A financial lender, for example, could use a panel management product like Cint Engage to harvest information from their own clients to gauge customer satisfaction. They can, at the same time, gather data from more than 7 million consumers outside of their network from the same platform in seconds. Companies can deploy online surveys to discover information about new markets they might be considering for expansion, targeting certain groups based on specified demographics. Fast results from real people could give them the edge they need to stay competitive and to maintain an image of integrity."
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