The HSBC Story: How To Squander Great Advertising And Lose A Customer For Life
In case you hadn’t noticed, your bank wants to upsell you more services – and sometimes that’s not a bad thing. Unless your bank happens to be HSBC.
There is a well known model in the financial industry for customer evolution that is based on lifetime customer value. If you deliver a great service and experience for your lower end customers, they come back and work with you once they become more “desirable” and higher paying customers. Almost every financial institution operates with this same basic assumption – and in most cases there’s absolutely nothing wrong with it. After the right financial organization earns your trust through great service, why shouldn’t they grow with you?
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