tag:blogger.com,1999:blog-8930153101988441660.post2960999207642716338..comments2023-10-20T11:33:42.846-04:00Comments on Bank Marketing Strategy: The Business Case for OnboardingAnonymoushttp://www.blogger.com/profile/05424097007271218756noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-8930153101988441660.post-6919117865060586062013-01-08T15:18:09.820-05:002013-01-08T15:18:09.820-05:00Nice work Jim, as usual. It's true in wealth m...Nice work Jim, as usual. It's true in wealth management too. The VIP Forum found in their 2011 High Net Worth Client Experience Survey that a client's loyalty was strongly impacted by their initial interactions with their firm, including the onboarding experience. Clients that rated their initial interactions as "excellent" were nearly twice as likely to recommend their firm to others than those clients who rated their initial interactions as "fair to good". First impressions do count.JP Nicolshttp://www.jpnicols.comnoreply@blogger.comtag:blogger.com,1999:blog-8930153101988441660.post-36892897485721172812011-12-05T09:40:27.134-05:002011-12-05T09:40:27.134-05:00Jim,
I guess banks over emphasis and are paranoid...Jim,<br /><br />I guess banks over emphasis and are paranoid about acquisition cost and this seems to be the overpowering reason for them to include an account on boarding. Yet another reason in the post crisis situation has been solely with the purpose of ramping up deposits at a higher yield.<br /><br />The result: Most of them fail to convert these entrants into loyal profitable customers. Also, relationship based offers is not yet fully offered by banks and that leaves with most of these onboarded customers just having a savings or deposit account at best. Very rarely is a needs analysis done for them as well.<br /><br />I guess the very non-human nature of the channel is obscuring the real value of these customers.Salilhttps://www.blogger.com/profile/08341212740673496392noreply@blogger.com