June 2, 2004
What Satisfies Financial Services Consumers
Firms That Demonstrate Customer Advocacy Overcome Mistrust
This is the first document in the "Customer Advocacy" series.
by Bill Doyle
with Ron Shevlin, Tom Watson
Executive Summary (This is a document excerpt)
Financial services consumers have changed: They're mistrustful, insecure, and hands-on. But financial services firms haven't changed accordingly. The result is that customer satisfaction has plummeted. What satisfies consumers are firms that are customer advocates — those that do what's best for the customer, not just what's best for the bottom line. Firms that demonstrate the four aspects of customer advocacy — simplicity, benevolence, transparency, and trustworthiness — enjoy higher customer satisfaction rates and greater cross-sell success.
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What It Means
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Forrester surveyed more than 5,000 US households in late 2003. This document details the resulting data, focusing on financial consumers' satisfaction with and trust in their financial providers. Related Research Documents
May 20, 2004, Trends
April 9, 2004, Forrester Big Idea
August 28, 2003, Brief
July 18, 2003, Brief
July 7, 2003, Report |
Financial Services Consumers' Hearts Continue To Harden
Consumers Are Changing, But Firms Haven't Changed The Way They SellFind Documents In Related CategoriesThis document falls under the following categories. Click on a link below to find similar documents.
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Original air date: Wednesday, September 10, 2008
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- Customer Advocacy 2009: How Customers Rate Canadian Banks
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