Banks can usually understand their customers better than any other type of commercial institutions because financial institutions usually have a lot of useful information about their customers' demographics and purchase history.
Banks today can accurately determine the present and future profitability of each customer. Compared to other institutions banks are usually important to their customers' lives. The greatest advance in financial services marketing has been online banking and the ability to send emails to customers concerning their accounts. By 2011, more than 80 percent of consumers who have broadband Internet access in the United States signed up for online banking. This has opened up tremendous opportunities for banks, insurance companies, and other financial institutions to reach out to their customers with financial information that these people want to hear about. In this OnDemand Webinar, you will learn how to segment customers by current and potential profitability and to use that segmentation to improve customer loyalty and bank profitability. Learning Objectives: •You will be able to identify benefits of online banking. •You will be able to discuss why cross-selling profitable customers does not work. •You will be able to review prospecting using emails. •You will be able to explain loan application abandonment.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Why Loyalty Is Important to a Bank
- Benefits of Online Banking
- Profitability Calculation
- Creating Profitability Segments
- Turning Knowledge Into Action
- Behavior by Profitability Segment
Customer Profitability
- Potential Lifetime Profitability
- Why Cross Selling Profitable Customers Does Not Work
- Customer Retention Tactics
- Customer Acquisition Ideas
Customer Lifetime Value
- Prospecting Using Emails
- Forecasting Customer Churn
- Why Age and Income Are Not Enough
- Loan Application Abandonment
- Research Online and Buying off Line
- Focus on Relationship Rather Than Price
- Gold Customer Programs
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More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on June 4, 2013.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Arthur Middleton Hughes
The Database Marketing Institute, Ltd.
- One of the best known experts in the field of database and email marketing
- Published nine books on the subject, the most recent being Strategic Database Marketing 4th Edition (McGraw-Hill 2012)
- Has worked with and computed the Subscriber Lifetime Value of many experienced email marketers including: American Airlines, British Airways, Avis-Budget Rent a Car, Publisher’s Clearing House, Dell Computer, Bed Bath and Beyond, Bluefly, CVS, Dockers, Mattel, NFL, Radio Shack, Harrahs, L’Occitane, Miles Kimball, Oakley, OfficeMax, Petco, Sally Beauty, Smart Bargains and Thomas Cook
- His 200 articles published are available on www.dbmarkerting.com
- Can be contacted at [email protected] or 954-767-4558
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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