"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.