Exploring Customer Payment Preferences for a reputed bank: A Success Story by MarketGenics.co

Recognizing and satisfying client needs is critical in the quick-paced world of banking and financial services. One of the top financial banks in India, XXXX, realized this and made an effort to learn more about their clients’ experiences using different payment methods. In order to improve customer satisfaction, XXXX collaborated with MarketGenics.co to carry out an extensive research study.

Context of Research

A wide range of financial services covering all facets of life are provided by XXXX. In order to enhance the overall customer experience, XXXX sought to recognize and resolve issues pertaining to the various payment methods that its clientele employed.

Objective

The main goal of the study was to learn more about how customers felt about different online payment options for their purchases. The experiment also sought to determine how customers felt about utilizing or not using payment gateways as their preferred method of payment.

Target Audience

The target audience for this study comprised customers of XXXX Bank, specifically:

1. Heavy users of Payment Gateway.
2. Heavy users of Payment Gateway, in addition to UPI, DC, and CC.

Methodology: Telephonic interviews

MarketGenics.co opted for a telephonic interview approach to gather insights from the target audience. A total of 30 interviews were conducted from each segment of the target audience.

Successful Completion in 7 days

The research project was efficiently completed within a span of 7 days. MarketGenics.co meticulously managed the process, ensuring timely completion without compromising on the quality of data collection and analysis.

Process Overview

1. Following receipt of the customer names and contact information, MarketGenics.co team contacted the participants to arrange interviews at a time that worked for them.
2. The telephone interviews were done by professional researchers from MarketGenics.co using a standardized questionnaire that the team created.
3. To enable precise analysis of the responses and provide comprehensive insights into client behaviors and preferences for online buying, all calls were recorded.
4. After carefully examining the information obtained from the interviews, the research team was able to pinpoint important trends and patterns.
5. In accordance with the established delivery timetable, the results were given to XXXX Bank and offered practical suggestions for improving customer satisfaction.

Conclusion

MarketGenics.co and XXXX Bank’s partnership produced insightful data on consumer payment habits and preferences. Utilizing the study project’s findings, XXXX Bank will be able to make well-informed decisions to better enhance its offerings and services, which will eventually increase customer satisfaction.

Get in touch with MarketGenics.co , the best market research company in India if you’re interested in carrying out consumer research studies to obtain useful insights for your company.