Relationship Building is key for banks

With customers admitting they are now more than 50 per cent less loyal to brands, banks must take steps to restore faith.

Speaking at a pro.manchester lunch at The Lowry Hotel last Friday for over 80 members, McCann Manchester chief executive Sue Little said the rise in social media was also taking its toll on financial institutions.

She added: “We are witnessing the impact of the growth of social media. All of our brands are as much in the hands of the consumer as they are in our hands.

“If the recession has taught us anything it is to expect the unexpected. You need to ask yourself are you really on the same page as your clients?

“Getting close to customers is something every company can do, but it has to come from the top.”