Card Provider Satisfaction, Australian Businesses
Source: Roy Morgan Business Single Source. 12 months to December 2011, Sample = 9,532. Business Card Satisfaction is based on credit, debit or charge card customers who answered they are Very or Fairly Satisfied to ‘Overall, how satisfied are you with the way each institution is meeting the business's <card> needs?" (5 point scale).
Bendigo leads the big five business card providers in satisfaction across all business turnover segments.
Table: Card Provider Satisfaction by Turnover Segments
In the “Small business” segment (turnover of $1 million to less than $5 million annually), Westpac also leads the big 5 satisfaction (69.1%), noticeably ahead of its nearest rival ANZ (64.8%), but well behind Bendigo Bank (88.0%).
For the medium and large businesses (annual turnover $5m+), Bendigo was the leader with 80.2% satisfaction, followed by Westpac at 74.7%.
Norman Morris, Industry Communications Director, Roy Morgan Research says:
“With continued uncertainty in the global economy and limited growth in retail lending, business lending is seen as a key area of growth for a number of major financial institutions. A focus on improving customer satisfaction in business cards will assist financial institutions in growing their share of business lending wallet and strengthen the relationship with their business customers.”
The Roy Morgan Business Satisfaction – Business Banking Report in Australia – January 2012 provides a uniquely independent and reliable measure of businesses satisfaction with their financial institutions. The brands in this report include ANZ, Bank of Queensland, Bankwest, Bendigo Bank, BNP Paribas, Citibank, Commonwealth Bank, HSBC, ING Direct, Macquarie Bank, National Australia Bank, Rabobank, Royal Bank of Scotland, St George Bank, Societe Generale, Suncorp and Westpac.
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Roy Morgan Research is Australia’s best known and longest established market research and public opinion survey company.
Roy Morgan Single Source is thorough, accurate, and provides comprehensive, directly applicable information about current and future customers. It is unique in that it directs all the questions to each individual from a base survey sample of around 55,000 interviews in Australia and 15,000 interviews in New Zealand annually - the largest Single Source databases in the world. The questions asked relate to lifestyle and attitudes, media consumption habits (including TV, radio, newspapers, magazines, cinema, catalogues, pay TV and the Internet), brand and product usage, purchase intentions, retail visitations, service provider preferences, financial information and recreation and leisure activities. This lead product is supported by a nationally networked, consultancy-orientated market research capability.