For better marketing.
One of the largest retail banks wanted to identify it’s Customer Types for better marketing and build strategies for cross sell and up sell across organization.
We performed an analysis on 3.2 Million records of banking customers based on demographics, education and customer’s banking behaviour data to understand segments and groups of different customers.
The implementation helped the client with following recommendations:
- Re-define the “product” to increase loyalty
- Capitalise on the use of the web
- Consider a tailored frequent member offer
- Exploit the value proposition for Family Oriented customers
- Widen the catchment area
- Focus on customer acquisition