Session
Description:
Effective segmentation results in higher retail earnings.
But, how can banks select meaningful segments on which to
focus? And once they select key segments, how should they
change their marketing focus? Some banks operate without a
segmentation strategy saying, "Everyone is our customer."
Others develop 15 or more segments, an unwieldy and impractical
number for bankers to act on.
This
session provides a practical approach to market segmentation,
offering banks a road map for determining:
-
What customer data best define actionable segments
-
How to collect the right data
-
What approaches to use to select key segments
-
How to assess the optimal number of segments
-
How to redirect products and channels once segments are
chosen
FIC
will detail a framework for practical segmentation, using
relevant case examples from retail banks that have succeeded
at segmentation. We will also quantify the before/after impact
of a well-implemented segmentation strategy and lay out the
initial steps required to begin a segmentation initiative.
This program is appropriate for senior financial executives
with responsibility for Retail Banking, Small Business, Product
Development, Marketing, Market Research and Strategy Teams.
Attendance
Fee:
$275.00 plus $50.00 per telephone line used.
About
Charles Wendel
Charles Wendel is President of Financial Institutions Consulting,
Inc. (FIC), a strategy consulting firm dedicated to fostering
growth and improving productivity in the financial services
sector. Mr. Wendel has extensive experience both as a banker
and consultant. He began his banking career with Citibank
as a commercial lender and has also worked as a merchant banker
with Schroders and Bankers Trust. His banking background includes
experience in workouts and corporate restructuring.
Before
founding FIC, Wendel was a Vice President with Mercer Consulting
and an Engagement Manager with McKinsey & Co. He has consulted
to money center, regional, and community banks, insurers,
and diversified financial services companies in the U.S.,
Europe, Asia, and Africa. His focus includes:
- Small
Business, Middle Market, and Large Corporate Banking
- Product
Development and Alliance/Partnership Strategies
- Retail
Banking Strategy Development
- Commercial
finance
- Merger
and Acquisition Screening and Valuation
Mr.
Wendel has written six books:
Success
in SME Banking: Leveraging Global Best Practice to Grow Profitability
(2000)
The New Face of Risk Management (1999)
The New Financiers: Conversations with Executives Who Are
Leading the Financial Services Revolution (1996)
Maximizing Small Business Growth (1996)
Business Buzzwords (1995)
The Middle Market: An Integrated Approach to Increasing
Share and Profitability in Banking’s Most Dynamic Market (1994)
Mr.
Wendel is a regular contributor to American Banker
and other financial services periodicals and has spoken at
many industry conferences He has also appeared on CNN, CNBC,
and Bloomberg radio.
Wendel
holds an M.B.A. in Finance and Marketing and an M.A. in English
from Columbia University and an undergraduate degree from
New York University.
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