(Length: 15 pages)
September 14, 2004
Earning The Loyalty Of Banking Customers
This is the second document in the "Customer Advocacy" series.
by Ron Shevlin
with Bill Doyle, Adele Sage
Executive Summary (This is a document excerpt)
Consumers are satisfied with their banks and few have any plans to switch. But that doesn't mean they're loyal. Loyal customers buy more products from their bank. But less than one-third of the average bank's customers intend to consider the bank for future purchases. To earn the loyalty of customers, banks must do more than offer the best rates and fees — they need to connect emotionally with customers. How? By demonstrating customer advocacy in service and sales interactions.
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We drew from Forrester's Consumer Technographics® June 2004 North American Study, which surveyed more than 12,000 US households in the middle of 2004. This document details the resulting data, focusing on loyalty and retention of banking customers. Related Research Documents
August 31, 2004, Trends
June 2, 2004, Trends
November 17, 2003, Brief |
Consumers Are Satisfied With — But Not Loyal To — Their Banks
But Retention Doesn't Translate Into Future Purchase IntentionFind Documents In Related Categories |
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