Trends Report

Banks And Retailers: You Cannot Price Your Way Out Of Bad Customer Experiences

Why Customer Experience Matters More To Loyalty Than Price

May 1st, 2013
Maxie Schmidt, VP, Principal Analyst
Maxie Schmidt VP, Principal Analyst
With contributors:
Harley Manning , Patti Freeman Evans , Molly Huie , Jason Knott , Catherine Graeber

Summary

Have you ever wondered whether it makes more sense to invest in customer experience or in dropping your prices to improve customer loyalty? We tested the relationship between customers' perceptions of their experience, their perceptions of price-value, and their loyalty. This report shows how customer experience trumps price-value perception as a loyalty driver for banks and retailers and what this means for retailers and banks that want to deepen their relationships with their customers.

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