Research on Factors Influencing Customer Satisfaction and Purchasing Behavior in Family Offices

Over the past 40 years of reform and opening-up, China's economy has achieved extraordinary achievements. The growth rate of China's ultra-high net worth population ranks first in the world, and China has the world's second largest group of billionaires. Demand for family office and inheritance of billionaires is increasing. Family offices have gradually emerged. This article mainly studies three issues in this context. Firstly, it examines personal characteristics and satisfaction attributes that influencing customer satisfaction. Secondly, it studies the influencing factors of purchase frequency, recommendation frequency, and different types of purchasing behavior. Finally, by studying the important attributes of different customer groups based on different types of family office service purchases, clues can be found to improve customer conversion rates.This article collected 300 valid questionnaires through a survey of family office clients. By constructing models such as ordered Probit regression, Probit regression, ordinary least squares regression, and using AHP hierarchical decomposition and IPA analysis, a systematic study was conducted for the first time in family office industry. The research findings are: (1) there is no stable statistical relationship between personal characteristic and satisfaction, but improving service efficiency can significantly enhance customer satisfaction; (2) Customers with investable assets exceeding 100 million yuan exhibit higher demand for family office services and significantly increased purchasing. Improving satisfaction is difficult to promote purchase times. The relationship between recommendations and personal characteristics is not significant. The more trust customers have in family offices, the more likely they are to recommend their relatives and friends to purchase services. The level of service facilities and service guarantee significantly differentiate between different types of customers; (3) Whether the family's investable assets are over 100 million yuan can significantly distinguish whether they are family office clients. Enhance the professionalism of the family office can significantly distinguish whether clients are both investment and non investment service clients at P value of 1%. This article expands customer satisfaction research and provides quantitative support for marketing and optimizing service strategies.