From a customer standpoint, trust in your financial services and banking providers is paramount. But what makes a customer trust an organisation? ‘The Connected Consumer Report 2024’, Esendex, the business communications provider set to find out.
Surveying 1,000 customers, the report looked at communications behaviour, engagement, trust levels, and channel preferences. Just over one in 10 (11 per cent) of respondents were strongly against sharing contact details with a firm. However, the vast majority recognised that mobile communications were enhancing the service they received and would be willing to share information.
Richard Hanscott, CEO of Esendex
Commenting on the findings, Richard Hanscott, CEO of Esendex said: “Businesses are eager to explore new ways to build and maintain meaningful relationships with their customers by understanding their preferences while managing this information responsibly and compliantly.
“It is hugely positive news that the majority of consumers trust messages from businesses, but in order to expand and cement this trust, we need to engage with what consumers want – starting with transparent, consistent and reliable communications.”
Adjusting to consumer demands
More than half of consumers reported trusting messages from businesses, but other findings indicated this trust needed to be earned, as 80 per cent of respondents said they’d avoid or stop using an organisation due to the quality of its communications.
This rose to approximately 85 per cent in both the 18 to 24, and 35 to 44 age brackets.
A staggering 90 per cent of respondents also said that personalisation encourages them to engage with businesses at least some of the time – with 30 per cent saying they did this either all or most of the time.
Hanscott added: “Personalisation is also proving popular with customers, who are more likely to engage with and respond positively to messages that feel tailored to them.
“Many are aware that companies need to use some of their data to deliver a personalised experience and are happy for them to do so, provided they have the assurance that this will be stored securely and used ethically.”
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