Jim Kelly.

• Author: Madden, Jim
• Position: Manage Your Assets - Brief Article

Jim Kelly

Chief Customer Service Officer

ING Direct

Is there such thing as a loyal customer anymore? Of course. Ever had a new customer say: "Hi, I'm a loyal customer. I'll never leave you." Of course not. Customer loyalty is built over the long run, yet we ask for their loyalty through short-run tactics. How often do banks offer "free checking (for 6 months)" or "low 3-month introductory rates"? These offers train customers to be disloyal. If we tell customers we're only committing to them for three months, why should we expect them to remain loyal to us any longer? Not only do we ask them for short-term loyalty, but we also give them everything our competition offers. Product proliferation...