Business Commons^™

Integrating The Activities Required To Recruit And Retain Profitable Customers In Contemporary Retail Banking, Susan Walsh

Articles

Today’s high street retail bank faces a major challenge in integrating the marketing activities required both to recruit new customers and to retain existing profitable ones. The challenge involves a judicious mix of “transaction marketing” – mainly aimed at winning new clients – and of “relationship marketing”- largely aimed at retaining present ones. Evidence from a detailed qualitative study of marketing practice in a UK high street bank, a subsidiary of an Irish headquartered bank, demonstrates just how problematic achieving this balance can be. The date indicates that this bank underinvested in a number of activities that are of primary …