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Customer Loyalty in Retail Banks: Time to Move Beyond Simple Programs or a Product Orientation

Product Type: Market Research Report
Published by: TowerGroup
Published: February 2005
Product Code: R301-978
Description
This TowerGroup ViewPoint examines the status of customer loyalty programs found within retail banks today and argues that retail bankers need to be more creative if loyalty between customers and the bank is to be a cornerstone of a strong, profitable relationship. Actions for designing effective loyalty programs are recommended.
Table of Contents
TowerGroup Take-Aways




Report Coverage




Background




Customer Loyalty in Retail Banking


Exhibit 1: Customer Behavior and Customer Attitudes Define the Degree of Customer Loyalty




The Challenges in Building Loyalty Programs

Bank Loyalty Programs


Exhibit 2: Emerging Best Practice: Measuring Customer Loyalty in Terms of Attitudes and Behaviors




Building Loyalty into Retail Banking Relationships


Exhibit 3: Customer Loyalty and Rewards Balance upon a Negotiated Exchange of Value




Recommended Actions




Summary
Ordering and More Information
Price and Delivery Options


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