Banks are among the worst businesses for mounting shortterm direct-marketing campaigns, according to a survey by Group 1 Software.
The technology firm examined how well various business sectors dealt with data collection, analysis and campaign management, physical generation of segmented campaigns and call centre query handling. Along with retail, the banking sector scored lowest on its ability to use data to identify what products a consumer is likely to buy.
Group 1 says the causes may be the complexity and range of a number of products sold by banks and customer inertia.
Director of customer relationship solutions Andrew Greenyer says: “That the sector fell down in its ability to launch effective campaigns suggests it needs to urgently reappraise the balance of attention between immediate revenue generation and more gradual customer value development.”