12 rules for customer retention.: An article from: Bank Marketing
Book Details
Author(s)Carla B. Furlong
PublisherBank Marketing Assn.
ISBN / ASINB00091ZKQY
ISBN-13978B00091ZKQ4
MarketplaceFrance 🇫🇷
Description
This digital document is an article from Bank Marketing, published by Bank Marketing Assn. on January 1, 1993. The length of the article is 3916 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
From the supplier: Building lasting client relationships can contribute to the profitability of banks. Management consultants Bain & Co reports that a 10% profit generated from one-year-old customer relationship can increase by more than six times if the relationship stretches to seven years. Banks can improve their customer retention rates by following twelve rules. The first of these rules is for banks to show that all bank personnel are working together to further the interests of the clients. Efforts should likewise be directed toward researching customer needs and preferences, identifying the customer segments that provide the most business, empowering bank personnel, and paying attention to internal customers as well as external clients. Banks would also do well to address customer problems, keep in touch with clients, cross-sell to customers, make every bank personnel accountable for retention results, recognize employees' retention efforts, and make retention programs flexible.
Citation Details
Title: 12 rules for customer retention.
Author: Carla B. Furlong
Publication:Bank Marketing (Magazine/Journal)
Date: January 1, 1993
Publisher: Bank Marketing Assn.
Volume: v25 Issue: n1 Page: p14(5)
Distributed by Thomson Gale
From the supplier: Building lasting client relationships can contribute to the profitability of banks. Management consultants Bain & Co reports that a 10% profit generated from one-year-old customer relationship can increase by more than six times if the relationship stretches to seven years. Banks can improve their customer retention rates by following twelve rules. The first of these rules is for banks to show that all bank personnel are working together to further the interests of the clients. Efforts should likewise be directed toward researching customer needs and preferences, identifying the customer segments that provide the most business, empowering bank personnel, and paying attention to internal customers as well as external clients. Banks would also do well to address customer problems, keep in touch with clients, cross-sell to customers, make every bank personnel accountable for retention results, recognize employees' retention efforts, and make retention programs flexible.
Citation Details
Title: 12 rules for customer retention.
Author: Carla B. Furlong
Publication:Bank Marketing (Magazine/Journal)
Date: January 1, 1993
Publisher: Bank Marketing Assn.
Volume: v25 Issue: n1 Page: p14(5)
Distributed by Thomson Gale
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