Santiago Solutions Group Releases Retail Banking Sector Supplement to Customer Service Impact Study

High Quality Customer Support in Spanish Leads to Loyalty and Retention for the Retail Banking Sector
A research study completed by the Santiago Solutions Group indicates that high quality customer service in Spanish is a pivotal differentiating factor when Hispanic Americans make purchasing decisions and decide to continue doing business with companies in the retail banking services sector. High quality customer service in Spanish/bilingual is rated significantly higher in importance than Hispanic community support and recommendations by family and friends when selecting and continuing to do business with retail banking providers. The study demonstrates that superior in-language customer service fuels business growth through positive word-of-mouth and yields high return on marketing investments by cementing Hispanic high spenders, loyalists and influencers of the brand. Key statistical findings in the Retail Banking Services sector: On a scale of 1 to 5, with 1 being unimportant and 5 being extremely important, Customer service in my language as a factor in selection was rated a 4.39. This was rated higher than publicity in my language. On a scale of 1 to 5, with 1 being unimportant and 5 being extremely important, Customer service in my language as a factor in continuing to do business was rated a 4.41 . This was rated higher than products that resolve my personal needs. 98% of respondents said they would consider doing more business as a result of an excellent customer service experience. 65% of respondents who received excellent customer service indicated they would tell friends and family. 67% of respondents said they would consider canceling their service if they had an unsatisfactory customer service experience. In forming an opinion on a providers reputation, on a scale of 1 to 5, with 1 being unimportant and 5 being extremely important, Customer service in my language was rated 4.43, higher than See people like me in companys advertising.