Consumer Ratings for Financial Institutions Fall to Lowest Levels in Five Years
A Forrester study shows that customers think their financial services providers do not have their best interests at heart. Customer advocacy is the perception on the part of customers that the firm does what’s best for them, not just the firm’s own bottom line. According to the report, customer advocacy drives real loyalty — a willingness to buy, borrow, save, and invest more with a firm that a consumer already uses.
Bill Doyle, vice president and principal analyst at Forrester Research says, “Financial companies need to raise the bar on the customer experiences they provide in order to weather this storm and keep customers loyal.”
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Tags: customer advocacy, Customer Experience, customer loyalty