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Let Customers Do Your Marketing—It Takes Performance and Trust

I have written in the past about the high percentage of customers who give referrals. Our research indicates that between 30-40% give referrals depending on the market in question.

In preparing for a presentation to a group of bank executives, I discovered that referring customers in the banking industry are not that unusual either.  An E&Y study from 2014 (“Winning Through Customer Experience,” E&Y Global Consumer Banking Survey, 2014) found that 77% of banking customers were very likely or likely to recommend their banker.  Furthermore, if the customer expressed “complete trust” in the banker, the percentage of those very likely or likely to refer shot up to 95%.

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