Kristin R. MoyerThe financial crisis is putting a strain on nearly everything, especially customer relationships. In this environment, customer relationships need to be redefined for both banks and the vendors that serve them.
Banks need to be more focused on supporting their customers through the financial crisis. This needs to start with looking at the customer from their point of view. It also means educating customers on personal financial management and how to pay off debt.
Vendors need to find ways to maintain their customer relationships through the financial crisis. Vendors may find it beneficial to go deeper with fewer relationships under these circumstances. They also need to find ways to maintain relationships with banks despite their financial position.
If you make changes in these areas, you might want to consider hanging on to them when the market turns. Most of these approaches will improve success regardless of the economy.
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Category: Uncategorized Tags: banking and investment services, customer relationships, financial crisis
