(Episode 43 696; 18 minutes) Less than half of all Aussie customers say they are loyal to your bank. This is a shocking statistic if you consider their multi-touch marketing budgets millions of dollars.
Part of the problem is where the banks are spending this marketing budget. Their approach seems more to do with trying to change the behavior of customers to meet their needs. This was highlighted in a recent report "what is critique vertically: a look at Retail Banking in Australia", led by Chief Marketing Officer Council (CM), commissioned by Computershare communication services and InfoPrint Solutions (a division of IBM).
In this edition of BTalk discuss the conclusions of the report with Ross Ingleton, Sales Director of Computershare and Lee Gallagher, Director of Marketing and sales and Mike Bryant, practice Leader, Marketing and Analytics, both InfoPrint Solutions.
It is an interesting example of how could ask marketing for more information, but missing the key point about what is affecting sales and retention.
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