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Working Paper #5: Impacting The Customer Experience At A Bank Branch Through A Digital Communications Network

Product Type: Market Research Report
Published by: Platt Retail Institute, L.L.C.
Published: June 2006
Product Code: R693-7
Description
The retail banking business is extremely competitive. Compounding this, consumers consider banking products and services to be commoditized offerings. Due to the competitive nature of the industry on the one hand, and the homogenized view of its product and service offerings on the other, retail banks are challenged to develop meaningful marketing activities to ensure new customer acquisition and to sell additional, higher margin products and services to current clients.

In this Working Paper, the attributes of a branch DCN are detailed. The significance of the branch and the importance of enhancing the customer experience therein is also addressed. In addition, the major benefits to be derived from a branch DCN are delineated. Concepts relative to measuring the effectiveness of a bank DCN are also advanced.
Table of Contents
A. Attributes of a Bank Digital Communications Network

B. Differentiating the Bank Branch by Impacting the Customer Experience

i. Branch Environment

ii. Customer Experience

iii. Information Technology Spending

iv. Bank Marketing Mix

C. Branch Benefits

i. Building Customer Loyalty

ii. Wait Time

iii. Branch Productivity

iv. Consultative Product/Service Sales

v. Customer and Employee Education

vi. New Product/Service and Promotional Trials

C. Measurement Methodologies

i. Strategy Alignment

ii. Outcomes

iii. Data Analysis
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