Less than half of all Aussie customers say they are loyal to their bank. This is a shocking statistic when you consider their multi-million dollar marketing budgets.
Part of the problem is where the bank marketers are spending that budget. Their approach seems more to do with trying to change customer behaviour than meeting their needs. This was highlighted in a recent report “What’s Critical in the Vertical: A Look at Retail Banking in Australia“, conducted by the Chief Marketing Officer (CM) Council, commissioned by Computershare Communication Services and InfoPrint Solutions (a division of IBM).
In this edition of BTalk I discuss the findings of the report with Ross Ingleton, Sales Director at Computershare and Lee Gallagher, Director of Precision Marketing and Sales and Mike Bryant, Practice Leader Marketing and Analytics, both at InfoPrint Solutions.
It’s an interesting example of how marketers might be asking for more information, but missing the key point about what is influencing sales and retention.
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Running knowledge economies using production-based theories
Are we trying to apply theory developed for production-based economies, on economies driven by knowledge? It’s worse than that says Steve Keen.
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Why BP don’t care what National Trust does
National Trust is divesting £30m that it has tied up with fossil fuel companies. On TalkRADIO I explain the simple reason why the BPs and Shells of the world won’t care.
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Germany to spend, Huawei to extend and Boris to block
Is Germany ready to spend its way out of a recession? Is the US economy weakening further? What’s going wrong in New Zealand? Three questions put to NAB’s Tapas Strickland on today’s Morning Call podcast.
