Better the devil you know? How to combat problematic client inertia

It is the sleeping giant of financial services, the force that is more powerful than any marketing or sales campaign. It is the easiest thing for customers to do, yet the hardest thing for companies to change. It is inertia – and it has a big impact on firms operating in our sector. So, what exactly is it? There is no industry-accepted definition of inertia but the term is typically used to describe a situation in which customers repeatedly purchase a particular brand or product out of habit, rather than a marked preference for the brand.  This can happen for a number of reasons. For ...