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For Financial Services Professionals
| Primary Analyst Photo | Document Information | Rate this Document |
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September 14, 2004 Earning The Loyalty Of Banking Customersby Ron Shevlin with Bill Doyle, Adele Sage |
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This is an excerpt
Executive Summary
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.
TABLE OF CONTENTS
- Consumers Are Satisfied With — But Not Loyal To — Their Banks
- Banks Don't Make An Emotional Connection With Customers
- Advocacy Is The Story Banks Want Their Customers To Tell Themselves
- There Are No Quick Fixes For Earning Customer Loyalty
- Supplemental Material
- Related Research Documents
This is an excerpt
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