14 August 2008

How Banks Can Rebuild Customer Confidence

Lack of confidence hurts revenue. But with the right steps, the financial services industry can get it back.

by Jennifer Robison
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Headlines notwithstanding, the outlook for banks is hardly all gloom and doom. “It will get better -- it just takes time for things to right themselves,” says Gallup’s chief economist. He and a financial services expert explain how banks can turn things around.
Jennifer Robison is a Senior Editor for the Gallup Management Journal.
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Reader Comments
Gregory Starr Posted On 8/20/2008 9:00:47 PM

A majority of banking customers are not getting personally burn by indiscretion in the banking world. Most of us have seen it before and we'll probably see it again. For most of us, it is business as usual. If management panics and goes all the way down to customer services for cost cutting, they have not only stuck a plain label over their time honored bank sign but cause loyal, long term customers to feel betrayed. Betrayal is difficult to live with and hard to forget. A loyal customer is a tremendous asset not to be taken lightly.

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See also
Several Industries Take Big Image Hit This Year
Confidence in U.S. Banks Down Sharply
Is the U.S. in a Recession?
The Subprime Meltdown Will Burn Everyone

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