Attrition Benchmarks: Retail and Business

Attrition Benchmarks examines the reasons behind retail and business attrition and recommends ways to mitigate attrition. Order Attrition Benchmarks today and begin controlling your institution's attrition rate.

Attrition research has become very common in the past few years, as financial institutions have realized that growth means little if customers are closing accounts. Institutions have also recognized that their future growth will be adversely affected if these lost customers are dissatisfied and inform friends and family about their perceived negative experience. Before an institution can reduce its attrition, it must first understand the factors fueling account closure and the impact of those factors on the lost customer.

Attrition Benchmarks: Retail and Business compiles the findings from over 2,500 interviews analyzing retail and business attrition since mid-2004. As Bancography discovered in over two years of studying lost accounts and households, every institution had its own attrition composition that differed between retail and business; however, the motives behind the attrition affected each institution similarly.