To start, banks must have continual proactive outreach to credit-active customers to make sure they’re top of mind when those customers are shopping.

With banks increasingly underscoring the importance of sales, more institutions are rethinking how they identify, attract, hire and retain the next generation of employees required to handle the expectations and needs of consumers, say panelists at the upcoming BAI Retail Delivery 2014.

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As competition heats up from the likes of Walmart, PayPal and other shadow banking organizations, financial institutions need to improve customer engagement in order to increase wallet share, customer acquisition and retention.

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Working with “digitally-savvy” mass affluent customers, particularly on wealth management issues, requires moving away from a branch-centric service model to one that leads with digital tools and includes some personal interaction from a skilled investment advisor.

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Go all in: that’s how bankers should manage their social media efforts, according to Gary Vaynerchuk, who knows something about using social media as a marketing tool.

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In the first half of 2012, Amazon reportedly spent $54 million and the University of Phoenix $37.

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Many banks aspire to change their branches from service centers to sales centers but with only marginal success.

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Bankers all agree that they need to improve their productivity as operating expenses rise due to diverse factors, including increased compliance costs, continual technology investments, and the need to add more channels while maintaining the old ones.

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All around the world, retail banks have implemented various forms of digital technology to bolster their marketing and advertising efforts.

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Many industries struggle with developing a strong and efficient search engine optimization (SEO) strategy.

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Many banks are devoting an increasing amount of their marketing and technological resources to court the mass affluent, who represent 13 million households with a total income 50% higher than the U.

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Financial institutions are facing extreme polarity in the financial needs and wants of the baby boomers, on one side of the spectrum, and the millennials on the other.

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Cross-selling, or persuading customers to purchase additional products, is one of a bank’s most powerful and efficient revenue-boosting tools.

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It is hardly new news that many banks are struggling to grow, constrained as they are by a still-slow economy, an overly aggressive regulatory environment and an often cautious customer base.

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Well executed service quality programs can have a significant positive impact on revenue and bank earnings.

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Today’s financial services organizations covet customer insight and understanding like never before.

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The desire for growth is leading bankers to renew their focus on capturing the mass affluent population.

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“What do you mean I have to pay $120 to check my luggage? I’ve been using this luggage without having to pay baggage fees for a long time.

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By the late 1990s, many banks understood the deficiencies of the product-centric model and began to consider the transformation needed to become customer-centric.

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