Trend Report

How The Financial Crisis Will Affect Bank Customer Loyalty

Big US Banks Need To Demonstrate Customer Advocacy Now More Than Ever

Bill Doyle
 and  two contributors
Nov 25, 2008

Summary

Customer advocacy scores are down this year as the financial crisis takes its toll. Low customer advocacy scores are bad news for any firm that wants to deepen relationships with existing customers. They're especially bad news for the three biggest US banks, which have grown by acquisition during the current crisis and must now master the art of organic growth. If big banks don't improve their bottom-of-the-pack customer advocacy scores, rival firms like local banks and direct brokerages will grab more of their customers' business.

Log in to continue reading
Client log in
Welcome back. Log in to your account to continue reading this research.
Become a client
Become a client today for these benefits:
  • Stay ahead of changing market and customer dynamics with the latest insights.
  • Partner with expert analysts to make progress on your top initiatives.
  • Get answers from trusted research using Izola, Forrester's genAI tool.
Purchase this report
This report is available for individual purchase ($1495).