Think Customers: The 1to1 Blog

Most of the problems are the result of decisions that have a short-term, quick scheme focus, and goes against the idea of building long-term customer value. Iin today's issue of 1to1 Weekly, we spotlight a new report from Forrester Research shows that customers feel their banks do not act in their best interests. In fact, levels of "customer advocacy" rankings fell to their lowest levels since Forrester began the survey five years ago.

There are some financial elements that cannot be controlled by individual banks, that's true. But, customer centricity and a culture of customer trust are in a financial institution's complete control. This leads to stronger customer advocacy.

In her editor's note today, 1to1 Media Editor-in-Chief Ginger Conlon relays a story about how she recently visited Citibank to inquire about making a change to one of her accounts:

It became a hugely complicated experience. At a time when every company should be using customer centricity as the valuable retention and growth tool that it is, all-too-many financial services firm still operate on an internally focused basis.

It seems like a simple fix. But I'm sure there's more to it than that. Does anyone who works for a financial services company care to share their point of view? Are we consumers stuck with the "lesser of evils," instead of positive relationship and experience?

Or, who out there is an optimist? Do you have a great financial services experience to share? What can other companies learn from the ones doing it right?