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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