Roy Morgan Research last night revealed the winners of its 2nd annual Customer Satisfaction Awards for Business Banking and Finance at a gala dinner in Melbourne.
Every month throughout 2012, Roy Morgan Research conducted over 2500 interviews with business decision makers across Australia, and across all industries.
Based on their responses, each month we award the Bank, Major Bank, Superannuation Manager and Insurer with the highest proportion of satisfied business customers.
Now, for the second time, we reveal the overall winners for the year, those financial organisations that most successfully satisfied their business customers.
Bendigo Bank wins 2012 Bank of the Year
It was a tale of two banking sectors in 2012: satisfaction among personal banking customers reached record levels while businesses remained less impressed with the service. In a tough market it pays to retain your customers and maintain their satisfaction, as did Bendigo Bank every month in 2012, to take out the annual award for the second year in a row.
Westpac wins 2012 Major Business Bank of the Year
The Commonwealth Bank and NAB perform well among medium-to-large business customers, ANZ trails across all segments and Westpac satisfies the gamut of small and medium-to-large businesses. Westpac dominated its category, winning 12 of the 12 months.
Cbus wins 2012 Business Superannuation Manager of the Year
Every month of every year Roy Morgan Research monitors the satisfaction of 37 of the major Business Superannuation Managers. Industry funds tend to perform the best, with Cbus in the lead, with Sunsuper and HESTA also performing well. However, retail funds that made some appearances in the top five are Colonial First State, AXA, BT, MLC and AMP.
WFI wins 2012 Business Insurer of the Year
One of Roy Morgan’s recent findings is the proportion of Queensland’s businesses with property insurance declined from 40% in early 2011 to only 34% at the time of the recent floods. In 2012 Elders Insurance and WFI fought it but the latter once again came out on top.
Michele Levine, CEO, Roy Morgan Research, says:
“Post-GFC (or mid, depending on your view), banking and finance organisations need more than ever to attend to their micro, small and medium-to-large business customers.
“Now in only its second year, these Awards are already recognised as currency in many industries, being the most accurate and trusted indicators of customer satisfaction in Australia.
“By integrating customer satisfaction measures with our Business Single Source survey, we offer financial institutions incomparable research into just how satisfied their business customers are and areas where they could improve.
“Roy Morgan Research congratulates not only the winners but all successful businesses, large and small, that consistently aim to satisfy their customers.”
Roy Morgan Research
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.
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