The financial services sector has recently undergone a series of disturbances and now is faced with more educated customers, who increasingly demand a personalized solution to their financial needs. As a result, to ensure the long term profitability, financial service providers have to increase their attention towards customer relationship management aimed at satisfying and, consequently, retaining customers. This focus on customers rather than on operations is represented by customer intimacy, one of the three value disciplines developed by Treacy and Wiersema (1993). Following a customer intimate strategy implies segmenting and targeting markets as well as offering personalized products or services to match exactly the demands of those markets.
Retail Banking: the challenge of getting customer intimate
OMARINI, ANNA EUGENIA
2011
Abstract
The financial services sector has recently undergone a series of disturbances and now is faced with more educated customers, who increasingly demand a personalized solution to their financial needs. As a result, to ensure the long term profitability, financial service providers have to increase their attention towards customer relationship management aimed at satisfying and, consequently, retaining customers. This focus on customers rather than on operations is represented by customer intimacy, one of the three value disciplines developed by Treacy and Wiersema (1993). Following a customer intimate strategy implies segmenting and targeting markets as well as offering personalized products or services to match exactly the demands of those markets.
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