January 9, 2006

Building Stronger Customer Relationships

Customer Advocacy In Europe

by Cliff Condon

with Martha Bennett, Ashara Giordanelli, Benjamin Ensor

Executive Summary (This is a document excerpt)

Banking relationships are tenuous — consumers feel satisfied with their primary bank, but they don't necessarily plan to grow the relationship beyond a current account. For banks to build the emotional attachments necessary to drive product cross-sales, firms need a new strategy for building customer relationships. Forrester believes that winning banks will focus on customer advocacy — creating the perception among customers that the bank does what's right for them, not just what's right for the bottom line.

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