Factors Enhancing Customers in Banking System

In this era of killer competition, achieving the objectives of new marketing paradigms demands winning the trust of customers. In the global economy, where organizations have policies and interactions have become more complex, building trust offers invaluable opportunities. The time when many markets have matured and businesses can hardly access to new customers, companies need to retain their customers and make them loyal. As such, it is said that attracting a new customer cost 6-9 times more than retaining one. Successful managers understand that maintaining loyalty of their customers and retaining them in their customer pull requires gaining their trust. Thus, changing of marketing practices and formulation of trust-based customer strategies is not a choice, but an inevitable necessity for a modern business.