18: Customer Advocacy Drives Customer Loyalty

In 2003, Forrester undertook research examining how customer advocacy — the perception by customers that a firm does what’s best for them, not just what’s best for the firm’s own bottom line — impacts customer relationships in financial services. Now, over 10 years later, we continue to find customer advocacy is a key driver of future purchase intent for customers of retail banks, brokerages, credit card issuers, and insurance firms. In this episode, we explore which firms rate high in customer advocacy, which firms rate low, and how one firm turned its business around by focusing on this important customer perception.

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