Customer satisfaction among corporate clients
Customer loyalty
Brand values
Likewise, customer satisfaction among private banking
clients was higher in 2006. Clients appreciated the bank's
reliability, speed and ease of action and accuracy.
According to clients, customer satisfaction could improve
even further if the local Rabobanks would be more
effective, addressing the right subject at the right time.
The high customer satisfaction was confirmed by a survey
conducted by Incompany business magazine, in which
Rabobank Private Banking ranked highest.
The subsidiaries within Rabobank Group traditionally perform
well in comparison with their closest competitors. As in
2005, customer satisfaction among Alex clients remained
high in 2006. According to clients, Alex' strengths included
its innovative product range, the quality of its Service desk,
its client site and its order handling. Its rates are also
considered good, although clients indicate that they
expect rates to remain in line with the market in the future.
Robeco Direct's customer satisfaction was stable as well.
The introduction of the new Younique investment concept
was successful. Clients appreciated their contacts with
advisors, the transparent rates and the high degree in
which commitments are met.
Customer satisfaction among corporate clients declined
slightly, with some pressure on the traditionally very high
customer satisfaction in the agricultural sector.
Nevertheless, satisfaction remained very high, also in
comparison with the competition. Agricultural clients
would like to see more tailored solutions that align better
with their specific situation. In addition, there is a need of
greater transparency in costs and rates.
In the small and medium-sized enterprises sector,
Rabobank traditionally scored high as well. Clients in this
sector appreciate the fact that bank affairs can be handled
at moments that suit them. Additionally, they highly value
the quality of Internet banking and are positive about the
accuracy in handling bank affairs. Nevertheless, clients
indicate that both account managers and advisors should
gain more knowledge of what goes on in their business
and sector. Customer satisfaction among smaller
enterprises is lower than among larger enterprises.
All in all, the surveys showed that customer satisfaction
among corporate clients is above average, compared with
the competition.
The survey shows that customer loyalty is high and that client
identification with their own local Rabobank is strong.
Obviously, customer loyalty among members is higher due
to their greater commitment to local Rabobanks. After a
decrease in customer loyalty among private individuals
over the two preceding years, it showed a sharp rise in
2006, to its highest level in the past six years.
The loyalty rating for corporate clients likewise showed
an increase. Rabobank's score in the agricultural sector is
traditionally high. This was reflected in the loyalty level,
which was again higher in 2006.
In the small and medium-sized enterprises sector, there is a
clear difference between loyalty among smaller enterprises
and the larger corporate clients, as was the case for customer
satisfaction. Loyalty among smaller enterprises is significantly
lower than among larger enterprises. This is partly due to
the fact that larger enterprises are offered more tailored
products, whereas smaller enterprises have to rely more on
standard products. Consequently, the products cannot be
tailored to their individual needs to a similar extent.
Rabobank wants to be seen as a bank that is near-you,
committed and leading. These are Rabobank's brand values.
These values are measured using a brand value monitor, in
which private individuals and businesses (both clients and
non-clients) are asked with which of the five large banks
they most associate these brand values.
In 2006, Rabobank again scored highest by far on all three
aspects, among both private individuals and businesses.
Among private individuals, there was an increase in the
'leading' brand value. The 'near-you' and 'committed' brand
values were virtually unchanged. Among businesses, there
was a slight decrease in 'near-you. 'Committed' and 'leading'
were virtually unchanged. With these scores, Rabobank
may justifiably again be called the most committed and
leading bank near-you in the Netherlands.
80 Rabobank Group Annual Report 2006
