Seeking synergy in SME financing

"Seeking Synergy in SME Financing", studies the dichotomous relationship affecting both small-to-medium businesses(SMEs)and business banks. In this publication, the belief that business banks offer excellent services to SMEs is strongly challenged. Against the five critical issues established by SMEs, banks believed they would receive an average of 80.4 per cent. SME customers indicated a mere 19.9 per cent level of satisfaction. A methodology was established and tested in a Australian "Big-4" bank to overcome this impass; resulting in an annualised increase in bank income of more than 98 per cent together with a customer satisfaction rating of 89 per cent. This result, established in a period of just 10 weeks, was generated by a change in bankers' attitudes and a strong focus upon the espoused needs of SME customers. Both training time and costs were deemed to have had a minimal impact upon the bank. These outcomes also indicate an evolution of customer satisfaction from "Don't care" to "Strongly loyal".

Autorentext

Dr Ian Freeman, with a strong background in marketing strategy, conducted extensive research into the problems facing Small-to-Medium Businesses (SMEs) when dealing with business banks. The resultant methodology was tested in one of Australia's 'Big-4' banks; producing outstanding outcomes for all parties.

Klappentext

"Seeking Synergy in SME Financing", studies the dichotomous relationship affecting both small-to-medium businesses(SMEs)and business banks. In this publication, the belief that business banks offer excellent services to SMEs is strongly challenged. Against the five critical issues established by SMEs, banks believed they would receive an average of 80.4 per cent. SME customers indicated a mere 19.9 per cent level of satisfaction. A methodology was established and tested in a Australian "Big-4" bank to overcome this impass; resulting in an annualised increase in bank income of more than 98 per cent together with a customer satisfaction rating of 89 per cent. This result, established in a period of just 10 weeks, was generated by a change in bankers' attitudes and a strong focus upon the espoused needs of SME customers. Both training time and costs were deemed to have had a minimal impact upon the bank. These outcomes also indicate an evolution of customer satisfaction from "Don't care" to "Strongly loyal".