Banking and Finance
Examining the Future of Retail Banking: Predicting the Essentials of Advocacy in Customer Experience
November 2008
Service marketing, customer service satisfaction and the transition of the economy from product manufacturing to a service oriented economy have received extensive attention in the business world. In this kind of an economy, customers who experience a high level of satisfaction become repeat, loyal customers. The result of loyalty in banking is that customers remain customers, even when they have a negative experience. In addition to loyalty an emerging area of interest is customers’ advocacy which is build on the basics of customer satisfaction and loyalty. The ‘advocate’ customer in turn communicates with other individuals who might become new customers.
... details