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How Low Can They Go? Financial Services Firms' Customer Advocacy Ratings Falter
Jun 13, 2009

"Given the mistrust and anger that consumers currently have toward the financial services sector, customer advocacy has never been more relevant," said Forrester Research Vice President and Principal Analyst Bill Doyle in a statement. "Customer advocacy has to be more than just a marketing message. Smart firms have used it as a guiding operating principle to win back the confidence of American consumers."  Article

When trust is lost, a customer relationship crumbles. Trust is about Personal Integrity and it grows when we identify with a Purpose and support that Purpose by living with Values.  Purpose is the drive behind what you do and how you want to do it.  It is about how you want to be remembered. Values are the guidelines that govern your behavior.  When your values are right; your behaviors will be right. Purpose and Values is what has been lost as greed and arrogance in some has manifested itself.

This recession has been fueled by systems failing within banking, credit,  lending, housing, unemployment.  Those systems failing have resulted in a backlash of trust in those who manage those organizations.  It will be a long remembered failing in our business infrastructure and in coming out of this consumer driven recession, it will be those companies who are able to rebuild and earn trust that will lead this economic recovery.  They will  be the long term winners.  The financial services sector seems to have failed most .  They have a great deal of rebuilding to do.

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