Quick Study: Banks, Corporate Leaders Not Communicating Well in Financial Crisis; Sales Get Boost From Cause Marketing


*Financial Institutions Not Banking on Communications: Despite the chaotic economic atmosphere that has settled over the entire country (and world), financial institutions aren't keeping their customers calm by overcommunicating--or communicating at all. Findings from an Opinion Research Corp. survey revealed that: 46% of surveyed customers said the bank in which they have the most assets was not communicating with them enough; 42% who own the majority of their assets with mutual funds expressed disappointment in the level of communication from their provider; Brokerage firms appeared to be doing the best job of communicating with customers as 62% of survey respondents indicated that the level of communication has been good; 55% of respondents thought the financial crisis would have a negative impact on them; and, 24% didn't think it would impact them at all. Source: Opinion Research Corporation *Senior Leadership's Communications Lacking: Just as financial institutions have been lackadaisical in communicating with customers about the current economic crisis, corporate leaders have failed in the eyes of their employees. According to national research conducted by Weber Shandwick: 70% of surveyed employees expect the current economic and financial problems in the U.

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