Report

Customer Advocacy 2021: How Advocating For Customers Helps Financial Firms Drive Loyalty

US Customers Rate Their Banks, Credit Card Providers, Insurers, And Wealth Management Firms On Advocacy And Future Purchase Intent

December 30th, 2021
With contributors:
David Hoffman, Ashley Villarreal, Sam Bartlett

Summary

Customer advocacy — customers’ perception that a firm does what’s best for them, not just what’s best for the firm’s own bottom line — is a key driver of loyalty and future purchase intent at retail financial services firms. Firms that rate highly on customer advocacy are more likely to be considered for future purchases, while the lowest-rated firms are least likely to retain customers. Digital business strategy and CX leaders need to show customers that their firm does what’s right for them when they interact through digital and human touchpoints.

Want to read the full report?

This report is available for individual purchase ($1495).

Forrester helps business and technology leaders use customer obsession to accelerate growth. That means empowering you to put the customer at the center of everything you do: your leadership strategy, and operations. Becoming a customer-obsessed organization requires change — it requires being bold. We give business and technology leaders the confidence to put bold into action, shaping and guiding how to navigate today's unprecedented change in order to succeed.