Customers want face-to-face help with vexing problems and to be left alone to tackle simple tasks. But oddly, some banks can’t tell the difference.
Bankers looking to increase their share of the mass affluent market should focus on the younger segment of that market, who are more inclined to work with banks.
While low-income customers, like anyone else, can be turned off by bank fees, making those fees less unpredictable can help keep those customers with the bank.
Once regarded as a necessary but decidedly unglamorous back office operation, Collections has emerged as a tool banks can utilize to retain customers.
Segmentation toolkits are a helpful aid to bank marketers in improving their outreach to the most desirable customer segments.
Customer behavior has changed in the Great Recession and customer analytics need to keep pace.
Retail banks face many challenges in their attempts to focus on high-profitability customers, including: what to do about the other 80%? Technology such as mobile and self-service can help.
Singapore’s OCBC Bank reaches out to Generation Y with a youth-oriented branch and marketing message.