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Consumers’ rapid adoption of online and mobile banking is now dominating strategy. Retail banks have traditionally relied heavily on relationship marketing at key life stages. However, an increasingly competitive market with a number of innovative and agile new entrants is changing the game. Consumers are demanding the same level of experience and interactions from retail banks that is standard across other markets such as retail and travel.
This research by Celebrus reveals that retail banking has many lessons it could learn from other sectors - such as retail and travel. Those sectors have forged ahead in delivering a highly personal customer experience that both generates new customers and increases the product mix sold to existing ones. Banks have a limited product set and therefore less opportunity to cross-sell and engage customer and prospects...so every interaction must count.
This research, commissioned jointly by Celebrus and Teradata and conducted by MyCustomer.com, asked digital marketers from the UK, France and Germany about:
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