Automating Sales and Marketing Processes
Rising Efficiency, Sinking Costs, Growing Revenue.
No wonder that the market research and analyst group Capgemini, in its World Retail Banking Report, identified sales orientation as the No. 1 growth driver. Moves to increase sales services, the authors write, should go hand in hand with efforts to lower costs, grow profits and, of course, satisfy customers. All of this can be supported through greater automation and customer loyalty.
Banks are under pressure to increase their sales but many of them lack a profitable branch network to provide the necessary service. Following the “do-it-yourself trend,” consumers now communicate with banks through multiple channels; the preferred one, clearly, is the self-service terminal. From a banking perspective, this situation raises several questions: Which is the most efficient channel to reach customers and communicate with them? How can existing customer data be used to tailor individual offers? And, perhaps most importantly, how can customers be retained long term?
boosts profits by 25%
and more.
More than a decade ago, Frederick F. Reicheld from the Bain consultant group worked the numbers and came to the conclusion that it pays to invest in customer loyalty. According to his research, an improved customer loyalty rate of 5% can boost profits between 25% and 100% In this context, what better instrument is there for banks to improve customer loyalty than ATMs, with more than 1.7 million installed worldwide and used 49 billion times a year by customers?
Shoppers who withdraw cash at ATMs and are specifically targeted know where the best offers are. The step up to a transaction terminal can lead through targeted event tips and the possibility to purchase tickets directly to a spontaneous change of plans.
