Training Resources for:
Maximizing Loyalty and Retention in Banking
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Maximizing Loyalty and Retention in Banking Although marketers devote a great deal of effort trying to maximize their prospects of success, ultimately it is the decisions of consumers that sort out the winners and losers amongst the vast array of products and services available in the marketplace.
Indeed, crafting offerings that add value is only a small part of the profitability equation. To be successful in today’s competitive environment one has to understand and manage the myriad processes that determine how consumers will respond to products and services, as well as react to related messaging.
Maximizing Loyalty and Retention in Banking will examine customer relationship management and customer loyalty from a manager’s perspective (i.e., how best to make decisions to with respect to customers to improve sales and profitability). The program will explore the psychology of consumer judgment and decision-making and also examine the myriad of factors that impact both consumer and managerial decision-making. We will also explore what it takes to secure the ongoing investment in customer loyalty at the c-suite level.
WHAT YOU WILL LEARN:
Participants in this two-day program will explore the following topics:
Creating a Customer Insight-Driven Organization
- Using ethnographic research to better understands consumer desires
- Using decision analysis to deal with risk and uncertainty
- Understanding the alignment to business vision and business success factors.
- Justifying investments in loyalty to the CEO
- Measuring effectiveness of customer relationship initiatives
Customer Relationship Management (CRM) Frameworks and Best Practices
- CRM processes and operations
- Analytical CRM for acquisition, retention and churn management
- Guiding cross channel (i.e., internet, call center, branch) customer experience initiatives.
- Practical application of a building block approach to CRM (i.e., staged implementation)
Understanding the drivers of customer loyalty and loyalty programs
- Measuring customer lifetime value and profitability
- Understanding the relationship between loyalty, satisfaction (and dissatisfaction)
- Understanding the role of employee engagement in consumer loyalty
- Exploring the relationship between brand (making promises) and customer experience (fulfilling those promises) and the impact on loyalty A Classroom course provided by Vanderbilt University Owen Graduate School of Management in Nashville, Tennessee, United States
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