August 1, 2005
Customer Advocacy: The Secret To Loyal Financial Services Customers
This is the fifth document in the "Customer Advocacy" series.
by Bill Doyle
with Bruce D. Temkin, Allison Corbett, Peter Hult
Executive Summary (This is a document excerpt)
Financial services consumers continue to grow more mistrustful of firms, more insecure, and more hands-on. To combat these changes, most financial services firms have focused on raising satisfaction. But satisfaction does not drive consumers to deepen relationships with firms. What does? Customer advocacy — the perception that the firm does what's best for its customers, not just what's best for its own bottom line. Firms that demonstrate the four components of customer advocacy — simplicity, benevolence, transparency, and trustworthiness — enjoy the most important fruits of loyalty: customers willing to consider the firm for future purchases.
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Forrester surveyed more than 5,000 US households in late 2004. This document details the resulting data, focusing on financial consumers' attitudes toward their financial providers. Related Research Documents
June 10, 2005, Trends
September 14, 2004, Trends
June 2, 2004, Trends
July 7, 2003, Report |
The Changing Financial Services Consumer
The False Hope: Raising Customer SatisfactionFind 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
- What Satisfies Financial Services Consumers
- Earning The Loyalty Of Banking Customers
- Lessons From Edward Jones' Mutual Fund Debacle
- How Financial Firms Rank On Customer Advocacy
- Customer Advocacy 2006: How Consumers Rate Their Banks, Brokerages, And Insurers
- Customer Advocacy 2007: How Customers Rate Banks, Brokerages, Insurers, and Credit Card Issuers
- Customer Advocacy 2007: How Customers Rate European Banks
- How Canadians Rate Their Banks On Customer Advocacy
- Case Study: Charles Schwab Storms Back By Focusing On Customer Loyalty
- Customer Advocacy 2008: How US Consumers Rate Their Banks, Brokerages, And Insurers
- Customer Advocacy 2008: How Customers Rate European Banks
- Customer Advocacy 2009: How Customers Rate US Banks, Investment Firms, And Insurers
- Customer Advocacy 2009: How Customers Rate Canadian Banks
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