# Customer recommendation

- Canonical URL: https://www.gerhardmerk.de/customer-recommendation
- Post ID: 591919
- Modified: 2023-07-25T21:00:14+00:00
- Language: en

## Definition

In the financial sector, the advice given by a provider's customer to others to enter into a business relationship with the singled-out business partner. - As in other sectors, customer recommendations are also the most cost-saving way for an institution to strengthen its image and acquire new customers. To encourage such recommendations, recommending customers often receive a bonus when they acquire a new customer. - To the extent that a bank's customer merely points out a potential new customer and the bank then calls the customer with reference to its customer's recommendation, this constitutes prohibited cold calling. - Cf. BaFin Annual Report 2007, p. 146 (focus on such cases). Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent! University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec. Professor Dr. Eckehard Krah, Dipl.rer.pol. E-mail address: info@ekrah.com https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk https://www.jung-stilling-gesellschaft.de/merk/ https://www.gerhardmerk.de/

## Machine-readable

- Generator: Merk Knowledge 1.1.1