Customer Defection
Bank Customer Defection Study: MDRG conducted customer defection and retention research for a financial services institution to identify and understand the attitudes and motivations that drive the decision to terminate or diminish a relationship with a financial institution. MDRG conducted in-depth laddering interviews to explore the chain of events and attitudes that prefigure defection or diminishment to a competitor institution. This process was followed by quantitative survey to assess the magnitude of each of the defection and diminishment factors identified in the qualitative research. The client institution found the results and analysis invaluable in designing strategies to retain a group of extremely profitable customers.