A regional bank with more than $13 billion in assets and nearly 300 locations across several states was using Harland Clarkeâ€™s StraticsÂ® predictive modeling results to drive its quarterly cross-sell direct mail efforts.download pdf
To justify your existence as a marketer, it’s imperative to communicate the positive influence of your marketing spend to senior leadership. Linking the results of your campaigns with bottom line measurements like revenue and profit is imperative. Steve Nikitas details several key performance indicators and analytics to help you do this.
Measuring retention should be an ongoing process, tracking increases or decreases over time and identifying how to improve it if necessary. Tracking other variables, such as length of relationship, number of products and demographic factors, provides visibility into where you’re falling short in product offerings to certain market segments and allow you to adjust your cross-sell initiatives.
Engaging account holders in needs-based conversations about their financial plans and situations can and does unlock a treasure trove of cross-sell opportunities. Uncovering the needs of account holders who are looking to plan for retirement, seeking a new set of wheels, hoping to put a son or daughter through college and more can be ascertained in just minutes.