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• Major losses in the bank’s personal checking accounts
• Increasingly wanted value and personal service
• Fierce industry responded to deregulation and new niche market entrants
• Changes in banking regulations
• Smaller banks changed their focus away retail banking or were acquired by larger banks
• Deregulation of the financial industry allowed crossover between banking, trust, securities, and insurance which had been kept separate
• Internet banking and lowering of protections for domestic banks allowing foreign banks to enter the market

2)

• CRM system could allow its personal bankers to access a customer’s transaction history
• Address, age, and account balances
• All contacts the customer had at any company location, phone center, or Internet site
• What level of service the customer qualified for, based on current and future profitability
• What products the customer held at the time of the call
• What products the customer was targeted/approved for by sales and marketing
• How the customer responded to targeted direct marketing campaigns
• Call centers, branches, and direct mail are critical to the customer experience
• The consolidation of the regional sales and marketing groups meant that instead of calling regional offices for lead lists, branches received lists from the sales and marketing office in Toronto
• Everyone had access to the “lead” list and it was available electronically
• Account manager work was done more efficiently because they knew the customers needs

3)

Why?

• Needed more robust profitability measurement
• Helped align the sales force around customer profitability and planted the seeds for the new customer-centric organization
• To better understand customers for better decision
• To find out about Lifetime value individually

How?

• They used aggregate information rather than actual data
• Bank analyzed its customer base and distributed the customer profit over deciles
• 20% accounted for 100% of its profit
• Used 3 model “A” customers made the most profit, “B” customers made some and “C” customers broke even or lost money

What?

• Major losses in the bank’s personal checking accounts
• Increasingly wanted value and personal service
• Fierce industry responded to deregulation and new niche market entrants
• Changes in banking regulations
• Smaller banks changed their focus away retail banking or were acquired by larger banks
• Deregulation of the financial industry allowed crossover between banking, trust, securities, and insurance which had been kept separate
• Internet banking and lowering of protections for domestic banks allowing foreign banks to enter the market

2)

• CRM system could allow its personal bankers to access a customer’s transaction history
• Address, age, and account balances
• All contacts the customer had at any company location, phone center, or Internet site
• What level of service the customer qualified for, based on current and future profitability
• What products the customer held at the time of the call
• What products the customer was targeted/approved for by sales and marketing
• How the customer responded to targeted direct marketing campaigns
• Call centers, branches, and direct mail are critical to the customer experience
• The consolidation of the regional sales and marketing groups meant that instead of calling regional offices for lead lists, branches received lists from the sales and marketing office in Toronto
• Everyone had access to the “lead” list and it was available electronically
• Account manager work was done more efficiently because they knew the customers needs

3)

Why?

• Needed more robust profitability measurement
• Helped align the sales force around customer profitability and planted the seeds for the new customer-centric organization
• To better understand customers for better decision
• To find out about Lifetime value individually

How?

• They used aggregate information rather than actual data
• Bank analyzed its customer base and distributed the customer profit over deciles
• 20% accounted for 100% of its profit
• Used 3 model “A” customers made the most profit, “B” customers made some and “C” customers broke even or lost money

What?

General points of the essay

customer service A RELATIONAL STUDY ON CUSTOMER SATISFACTION, TRUST , SWITCHING BARRIERS AND OVER ALL CUSTOMER RETENTION IN THE CONTEXT OF UNITREND LTD. Citi bank N.A and pay link service to customer Customer Acquisition And Keeping Customers In Today’S Volatile Market Customer relationships marketing customer profitability Disney's Customer Service Model Effective Retail through Customer Service – The Impact of Sales Staff in Different Types of Retail Format MARKETING AND CUSTOMER RELATIONSHIP CONCEPT WORKSHEET Marketing and Customer Relationships Worksheet Retailing Characteristics Of Fast Food Stores And Their Impact On Customer Sales And Satisfaction The Importance Of Analyzing Customer Profitability Information Technology And Quality Customer Service in n out customer service What constitutes good customer service and makes a company in the fast food industry indispensable?

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