Forrester Research

Boost Your Cross-Sell Success With Great Customer Experiences

June 9-10, 2005

New York, N.Y.

Overview

Finance Forum Attendees: Get detailed session information and download presentations.

If having satisfied customers was all it took to grow, then North American financial institutions would be in heaven. Few of their customers express any kind of dissatisfaction with the firms they use. And very few plan to defect. But that doesn't mean that the customers are loyal.

Customer loyalty is about more than just hanging on to existing customers. Loyal customers own more products from the firms they use. Loyal customers have deep relationships with their financial providers and will consider those firms for their future purchases. And there's the rub: Few of today's financial services consumers will consider their current firms for future purchases. Less than half of the average insurers' customers will consider those firms for their next insurance purchases. Forty-four percent of the typical brokerage's customers will consider the firm for their next investment purchases. With credit unions and banks, the numbers are even lower: Just 28% of the average bank's customers will consider it for their next banking product purchase.

Why aren't today's consumers more loyal? Financial institutions may be meeting the individual product needs of customers, but they're missing something that makes customers want to do more business with them. Building a relationship with consumers requires an emotional connection built through great customer experiences.

At Forrester's Finance Forum 2005, analysts and industry experts will tell firms how to boost their cross-sell success with great customer experiences. We'll show firms how to use technology to deliver the simplicity and transparency that today's consumers want. We'll reveal which banks, brokerages, mutual fund companies, credit unions, insurers, and credit card companies create great experiences across channels. And we'll describe the organizational, technological, and marketing strategies that firms need to get more business from today's financial services consumer.