Annals of Retail Banking: Coffee, Tea or Mortgage?
Business Week this week takes a look at two subjects critically important to retail banking these days - rewards and the analytics that look at customer behavior to figure out how best to target products (and rewards) to consumers to maximize their uptake and minimize any potential that they'll churn out the door to a competitor.
Human contact is still the marketing vehicle of choice, however. "We have all the traffic we need and then some," says Bank of America's Kenworthy. "Our marketing challenge is to make our associates more effective. That's the whole enchilada."
Add your comment... (note that all comments are reviewed before they're published)