Know Thy Customer: A Marketing Imperative
| Published: | Dec. 21 , 2009 |
| Format: | |
| Length: | 2 pages |
FIs have few untapped customer segments to pursue. Therefore, one revenue strategy is to focus on deepening relationships with existing customers. Failing to focus on current customers leaves them an open target for your competition. In the increasingly competitive financial landscape, FIs need to use the information they already have to build customer loyalty within existing relationships much less attract new accounts. With better utilization of in-house information and more efficient processes, FIs can expand portfolios, improve the customer experience, and lower costs to open accounts.
