2. Financial institutions have been competing with each other to
maintain customers and appeal new ones. Institutions have
created memorable commercials, used promotional coupons
through the mail, and have used cold call sales to reach out to
existing and new customers to convince them that their institution
is more beneficial than its competitors.
In some ways, these tactics have been beneficial and some have
not been. Banks and credit unions differ in their own ways, and
have different characteristics that appeal to particular audiences.
In order to gain loyalty, institutions need to find out what
customers dislike and how to change them.
3. Maintain existing customers=increase positive
reputation and satisfaction
Recruit new customers= increase amount of
customers (increase profit) or members
4. The audience this presentation would most
appeal to is those working in the Financial
Services Industry and current members and
customers.
6. Plozay, M. (2011, January 1). Trends and Opportunities in Financial
Institution Loyalty. Retrieved June 11, 2014, from
http://files.firstdata.com/downloads/thought-
leadership/FI_Loyalty_WP.pdf
Schwab, S. (2004, July 1). How Financial Services Loyalty Tactics Must
Change. Retrieved June 11, 2014, from
http://www.thewisemarketer.com/features/read.asp?id=50
Ten Tips to Build Customer Loyalty. (2014, January 1). Retrieved June 11,
2014, from http://www.allbusiness.com/building-customer-
loyalty/16675686-1.html