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Session Description:
According to a recent study of the top
20 banks by Novantas, as little as
50% of a bank's new checking account
customer base has measurable activity
during the first three months of their
relationship. This lack of engagement by
new customers negatively impacts
interchange income, fee income and
interest income at a time when the
banking industry is under tremendous
pressure to generate revenues. In
addition, research shows that a less
engaged customer is more likely to
attrite, less likely to expand their
relationship with their bank and will
not utilize multiple channels to the
extent of fully engaged households.
To achieve higher levels of customer
engagement, organizations need to
align themselves around the idea of
building a base of high-value, committed
customers during and immediately after
account opening as well as throughout
the entire life cycle of the customer.
Best-in-class financial organizations
with higher levels of customer
engagement communicate with the customer
early and often to stimulate activity of
all types across all channels. Before
these firms try to promote the
cross-selling of additional ancillary
products and services, they assist the
new customer in opening and using the
components of the new account that will
ensure the account becomes the
customer's primary relationship.
This session will be geared to those
organizations that are not only worried
about high levels of attrition, but also
the less publicized, but potentially
more damaging, customer with less than 5
transactions a month.
This session will discuss the challenges
of new customer engagement, the
opportunities for improvement in
activity, and the positive economics of
customer engagement. Illustrations and
examples of programs implemented across
the country will be shared and
discussed, with case studies provided on
how to improve customer engagement.
This session is appropriate for senior
financial executives with responsibility
for Retail Banking, Customer Loyalty,
Customer Acquisition, Customer
Experience Marketing, Onboarding, and
Product Development.
About Jim Marous:
Jim Marous is the Marketing Services
Director for Harland Clarke. Jim
specializes in serving the financial
institution industry sector, assisting
clients in the deposit, loan, investment
services, electronic banking and small
business product areas.
Jim has over 30 years of financial
industry marketing experience, working
at various banking organizations in the
Midwest prior to moving to the direct
marketing agency side of the business
almost 20 years ago. During his tenure
at various direct marketing
organizations, he has worked with more
than two dozen leading financial
institutions in the US and Canada as
well as providing support to firms in
the retail, hospitality, travel, and B2B
industries. He is a well recognized and
highly rated speaker at several trade
association and national industry
conferences and has written several
articles and assisted in the development
of a book on financial institution
marketing.
About Harland Clarke Marketing Services:
Harland Clarke Marketing Services is a
full service, leading edge provider of
direct marketing solutions focused on
the financial industry, taking a
strategic approach to all projects,
performing due diligence to understand
our clients' strategic goals, marketing
objectives, and project deliverables.
Harland Clarke Marketing Services is
dedicated to helping financial service
providers produce sustainable,
measurable growth through the seamless
delivery of comprehensive marketing
solutions. With a broad array of
capabilities and intense financial
services industry focus,
Harland Clarke Marketing Services
harnesses multiple channels to deliver
innovative & measurable marketing
solutions that generate growth, optimize
efficiency and build high performing
relationships.
www.HarlandClarke.com
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