In years gone by, a single channel used to be all that banks needed to
deliver products or services to their customers. Customers are now
demanding much more choice. Research shows that multichannel
customers spend 20 to 30 percent more money, on average, than
single-channel ones do, and channels such as the Internet promise big
Retail banks are constantly struggling with managing high tra\ue000fc in their
branches. Meanwhile customers who walk into their branches are the
costliest to serve and it is in the interest o\ue000 the bank to steer customers
towards lower cost channels.
Customer Sales Data
O\ue000\ue000er Response History
Response Incremental Value
Integrated customer view is the frst hurdle that any bank meets. It is important to have all customer/account / transaction data at one place and to be able to link customers across their product holdings. In all probability, every product line within a bank sits on a separate system (main\ue000rames or database). The Customer In\ue000ormation System (CIS) should be able to link all customers \ue000rom various product systems and defne the various relationships (house holding). I\ue000 the Bank does not have a CIS system, then they need to build a marketing data mart wherein individual customers /accounts need to be gathered \ue000rom various systems and the customer integration process begun.
This marketing data mart will include customer attributes plus transaction in\ue000ormation across channels, product holding and daily liability transaction detail linked with campaign history and response, including data quality processes and computation o\ue000 a broad array o\ue000 standard marketing metrics.
Measure and analyze the incremental fnancial per\ue000ormance o\ue000 all marketing activities by campaign / promotion, marketing channel, o\ue000\ue000er and individual customer or any other segment o\ue000 customers
Type, Currency, Status, Balance, Branch
Use Up-Sell score card
Dormant (Ever used
but not used \ue000or last six
Campaign Construct redesigned
to use the model e\ue000feciently
Score cards by customer vintage
Customers who remain
in-active a\ue000ter dormant
Proactive retention activity
o\ue000 liability customers
Acquisition score card
Active Users (Ever
used in last six
Migration o\ue000 customers \ue000rom
non-fnancial towards fnancial
Segment migration tracking
Dormancy prediction model
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