Target
Rabobank attaches great value to having and
keeping satisfied customers. That is why one of its
core objectives is to create the highest possible
customer value. Customer value is reflected in the
degree of customer satisfaction and customer
loyalty. Rabobank is critical of itself and is keen to
learn from clients what it does well and what
could be improved. Customer satisfaction and
customer loyalty are measured through market
surveys and compared with those for competing
banks. In 2005, a new telephone survey method
showed that customer satisfaction among private
individuals had increased from 7.3 1 to 7.4.
The longer-term target for customer satisfaction
is at least 7.5.
Customer loyalty
Customer satisfaction among private individuals
Customer satisfaction among corporate clients
19 Rabobank Group Annual Report 2005
Customer value
Rabobank organises annual surveys of customer satisfaction and loyalty
among thousands of private and corporate clients of the local Rabobanks,
Robeco, Alex and - until recently - Interpolis. Up to and including 2004,
the survey was held via the Internet. In 2004, a new telephone survey
method was started in parallel for the local Rabobanks.
The survey target is to gain insight into and to monitor customer
satisfaction and loyalty. The feedback received from clients is essential
for continued improvement of the services.
The survey shows that customer loyalty is high and that client identifi
cation with their own local Rabobank is strong. The loyalty rating for
private individuals remained high at 88% (89%), as did the rating for SME
clients, which was 70% (75%). Rabobank's score in the agricultural sector
is traditionally high. In 2005, customer loyalty averaged 86% (82%).
The survey also shows Rabobank's high score for customer satisfaction.
In 2005, customer satisfaction among private individuals rose from 7.3
to 7.4. For the longer term, the target of an average minimum score of
7.5 is maintained. Under the previous survey method, the target score
was 7.5 as well.
The percentage of (highly) satisfied clients among private individuals
was 90% in 2005, against 89% in 2004. Compared with the competition,
the availability by telephone, staff expertise, quick access to the right
person and the quality of Internet banking were particularly valued.
Nevertheless, clients wish better information on the opening hours of the
local Rabobanks and greater transparency in product costs and charges.
In 2005, as many as 90% of clients of Rabobank Private Banking were
(highly) satisfied with the servicing. This was a significant 4-percentage
point increase on 2004. A survey by Incompany, in which Rabobank and
its subsidiary Schretlen Co ended on top, confirmed the fact that
Rabobank is on the right track in this segment.
The specialised subsidiaries within Rabobank Group traditionally perform
well in comparison with their closest competitors. At 8.2, Alex showed
strong improvement compared with last year's already high rating of
7.8. Robeco Direct's customer satisfaction was slightly lower at 7.3 (7.5).
The benchmark for both is at 7.5.
The percentage of (highly) satisfied corporate clients rose from 78% in
2004 to 80% in 2005. A breakdown by SME and the agricultural sector is
as follows. Rabobank's score for (highly) satisfied clients in the critical
SME sector remains high at 75% (76% in 2004). Customer satisfaction
among agricultural clients showed a strong increase, from 86% in 2004
to 93% in 2005.
1 Based on the previous Internet survey method, customer
satisfaction in 2004 was 7.7, against a target of at least 7.5.
Create the highest possible
customer value
