Thanks to our wonderful customers the Greater won Best Building Society, Best Home Loans and Best Savings Accounts in the 2011 Mozo People’s Choice Awards. We asked Mozo Marketing Director Kirsty Lamont to tell us a bit more about the Awards and what made the Greater so successful.
Q: What makes the Mozo People’s Choice Awards different from other banking awards?
A: These are the only banking awards that are judged by real customers, so they’re a democratic election process rather than your usual stuffy, closed door, industry-judged awards. 23,000 customers from around Australia rated their banking provider for this year’s People’s Choice awards. We simply tallied up the votes to see who customers elected as Australia’s best and worst providers.
Q: Why do you think The Greater did so well in this year’s Awards?
A: ‘Family bank’, ‘competitive rates’ and ‘personal service’ are terms that come up time and time again in customer reviews of the Greater. Many financial institutions pay lip service to customer service and competitive products, but the Greater is one of the few that actually put them into practice. It’s no coincidence that the Greater was one of only a handful of home loan providers to choose not to raise home loan rates above November 2010’s official cash rate increase. Happy customers rewarded the Greater with a massive home loan rating of 9.4 out of 10.
Q: Do you think Australians are overall happy or cranky with their banking providers?
A: Customer satisfaction is driven by actions not marketing. We saw a lot of crazy headline grabbing marketing stunts over the year, but the banking providers with the happiest customers are those who demonstrate an ongoing commitment to putting people before profits. Credit Unions and Building Societies were the big winners in this year’s Awards, increasing their average overall satisfaction rating from 8.1 in 2010 to 8.2 in 2011 against a backdrop of declining satisfaction in banking providers overall.