Every competitor in retail financial services seeks to maximize the share-of-wallet of the customers that they capture.
Programs to consolidate financial balances and activities are widespread. Unfortunately, achieving share-of-wallet gains is a zero-sum game. There will be winners and losers. Challenges include offer development, measurement, customer incentives, and
program economics.
Assessing customer product usage behavior and programs
Designing measurement and reporting systems to monitor and evaluate the depth of customer relationships
Developing offers and customer incentives to make share-of-wallet gains
Evaluating the price sensitivity of customer segments, and developing pricing strategies
Building marketing programs and sales campaigns to promote relationship consolidation
Inspiring word-of-mouth marketing energy by nurturing strong
consumer relationships
Success is measured in incremental
relationship gains.
Succeeding one customer-at-a-time is the way sustainable market share gains are achieved.
Mercatus brings extensive experience in developing and managing programs to maximize relationship value.
