Forrester says customer advocacy remains the best predictor of future purchase intent among financial services consumers.  I buy that concept.  Advocacy suggests the firm is on the customers side, and has their best interests at heart.  This is powerful.

This latest piece from Bruce Tempkin, takes the concept of advocacy, and highlights the skills required of a firm, to be successful at advocacy.

Forrester Research: The Financial Services Survival Guide

Forrester’s customer advocacy rankings show that retail financial services  firms aren’t meeting the current needs of customers. What’s causing the problem? Organizational silos. But Forrester sees an end to this status quo.

The changing needs of customers, increasing competitive pressure, and emerging technology capabilities will push leading firms to break down their internal silos and create innovative new products and services. As the industry goes through this change, firms will need to master five new skills:
customer-centric DNA, solution management, cross-channel process agility, integrated merchandising, and interactive education.

Five Skills For Making Financial Institutions More Responsive

itemNo. 1: Customer-Centric DNA — Maintaining An Enterprisewide Focus On Customers

itemNo. 2: Solution Management — Tailoring Offerings To Meet Financial Needs

itemNo. 3: Cross-Channel Process Agility — Delivering A Seamless Experience Across Channels

itemNo. 4: Integrated Merchandising — Making The Right Offer At The Right Time

itemNo. 5: Interactive Education — Helping Customers Make Good Financial Decisions

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