| Cross-Seller's
Lament
by Bill Stoneman —
Bank marketers have spent decades
trying to boost the number of products sold per household,
but progress has been slow. Is the reward worth the effort?
The
Devil in the Details
by Kenneth Cline —
Wells Fargo & Co. has a well-deserved reputation as
a retail banking innovator. But CEO Paul Hazen discovered
that a poorly executed acquisition can trip up the best-laid
strategic plans. Can he rally Wells?
Customer
Profitability: Irrelevant for Decisions?
By Peter Carroll and Madhu
Tadikonda — Historical customer profitability
reports offer scant help in making crucial day-to-day
decisions. Better tools focus on the expected values of
key decisions for each customer, say Oliver, Wyman &
Co. consultants Peter Carroll and Madhu Tadikonda.
Delivering
On the Promise
Chase Manhattan Corp. is mid-stride in an ambitious branding
program aimed at building stronger bonds with customers.
Ultimate success, however, depends on execution rather
than advertising.
Crossing
the Divide
The legally imposed gap between banks and insurers
is gradually closing. But Conning & Co. researcher
Mary Ann Godbout says selling insurance successfully will
require new strategies. David G. Kaytes, of First Manhattan
Consulting Group, suggests five.
Call
Centers: The Heart of Direct Banking
Telephone service centers started out as a means
of shifting transactions out of expensive branch systems.
Increasingly they will be used for direct, proactive marketing
to customers, say experts in a Banking Strategies
roundtable.
Throwing
the Switch
One year after its formation, Integrion Financial Network
is beginning to roll out systems that support electronic
commerce. Managing director William Fenimore now turns
fuller attention to marketing -- and coping with players
such as Microsoft Corp.
Customer-Centric
Technology
Instead of using technology for piecemeal automation,
bankers must employ it to drive strategy -- and serve
customers better, say McKinsey & Co. consultants Rudy
Adolf and Rajan Hooda.
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