Marketing to Women at Citibank

Customer segmentation is a key element of bank marketing these days as companies search for growth in a slow-growth economy. New York City-based Citigroup, for example, has long been focused on women as a segment, maintaining a Website for female customers since 2000. Earlier this year, Citi revamped and expanded that Website, titled Women & Co., to all Read More

By |2020-05-27T18:01:14-05:00May 30th, 2012|Comments Off on Marketing to Women at Citibank

Managing the Conversation with Unhappy Customers

Are you setting up your sales and service people for failure by sending them unarmed into hostile territory? Are you leaving them to their own devices in dealing with unhappy customers? According to a recent study by Gfk Research Institute, “Trust in bankers hit a low of 37 percent in 2009, when the global economy shrank and banks Read More

By |2020-05-27T18:01:28-05:00November 18th, 2011|Comments Off on Managing the Conversation with Unhappy Customers

Rebalancing Retail Banking Growth

Organic growth in banking revenue and profit has been extremely challenging lately. Historically, such growth has come as clients’ product needs increased, new clients were added in growing regions and innovation created new markets. Yet, from 2008 to 2010, consumer lending and cards, deposit products and mortgage balances all fell, as a proportion of U.S. household balance Read More

By |2020-05-27T18:01:28-05:00November 15th, 2011|Comments Off on Rebalancing Retail Banking Growth

Youth-Oriented Marketing, Frankly Speaking

When Singapore-based OCBC Bank decided it needed to more aggressively pursue the large and growing young adult market in that country, it took what it would call a very “frank” approach to reaching this audience. Rather than offer one product for this market, OCBC Bank executives spent more than a year researching and designing a completely different Read More

By |2020-05-27T18:01:28-05:00November 8th, 2011|Comments Off on Youth-Oriented Marketing, Frankly Speaking

From Customer Satisfaction to ‘Happiness’

To the banking institutions that spend millions of dollars every year in the pursuit of satisfying customers, Jeffrey VanDeVelde has a bold statement to make – you’ve got it all wrong. VanDeVelde, director of client experience and loyalty at Atlanta-based SunTrust Banks Inc., says banks are asking the wrong question from the very beginning. “Consumers don’t want to Read More

By |2020-05-27T18:01:31-05:00June 29th, 2011|Comments Off on From Customer Satisfaction to ‘Happiness’

Delivering on the Segmentation Promise

For a good decade or more, when it came to knowing the customer, the banking spirit was willing but the technology was weak. Now, new strengths in analytics make it possible for banks to rise to their long-held aspirations and develop customer relationships of sustainable value. It was inevitable that breakthroughs years ago in data management would Read More

By |2020-05-27T18:01:31-05:00June 10th, 2011|Comments Off on Delivering on the Segmentation Promise

Retirement Is Key to Advising Affluent

Much has been written about the opportunity for banks to advise affluent customers on retirement planning. Indeed, Mercatus has seen the importance of retirement as a financial priority hold steady year after year in our consumer surveys. Banks as a category have made significant gains in 401(k) rollover and retirement-driven share of wallet capture and have performed Read More

By |2020-05-27T18:01:31-05:00May 31st, 2011|Comments Off on Retirement Is Key to Advising Affluent

To Serve the Underbanked, Emulate Retailers

Recently overheard: “Banks and credit unions are going to cede the underbanked market to other players.” I disagree. Banks and credit unions of all sizes are well positioned to serve underbanked, low-income consumers. However, in order to succeed, they should examine three lessons they can learn from other players in this space, especially retailers. Walmart, Kroger, Kmart, Read More

By |2020-05-27T18:01:33-05:00March 22nd, 2011|Comments Off on To Serve the Underbanked, Emulate Retailers