View more on these topics

Banks falling down on direct marketing

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.”

Recommended

Citigroup – Protected Growth Plan

Type: Guaranteed equity bond Aim: Growth linked to the performance of the FTSE 100 index Minimum-maximum investment:£5,000-no maximum, sa £3,000-£7,000 Term: Six years Guarantee: Original capital returned in full plus a minimum of 22% growth regardless of performance of index Return: Between 22% and 50% growth at end of term Closing date: June 4, 2004, […]

Eastender no match for pundits

After-dinner speakers at football matches are usually a low-rent assortment of booze-addled ex-players and past-it comedians but the hospitality organisers at the recent Champions League clash between Arsenal and Chelsea at Highbury decided to buck this trend with the frankly bizarre decision to employ Janine from Eastenders as a pre-game pundit. After being introduced by […]

Lockyer&#39s claims of generosity are beyond belief

On the front page of Money Marketing of April 15, I read with astonishment and mounting disbelief the words of Cliff Lockyer about the closing down of Berry Birch & Noble Financial Services. He says: “We have acted not just responsibly but, I think, amazingly generously. We have saved IFAs and the insurance companies millions.” […]

&#39One in 10 loans are for four times salary&#39

One in 10 borrowers are taking out a loan which is four times their salary or more, according to latest figures from the Liberal Democrats. The LibDems say that during February, 10 per cent of people taking out a new homeloan borrowed between four and six times their income. But the Council of Mortgage Lenders […]

2016 Global Survey of Individual Investors: How is investor behaviour rewriting the job description for financial professionals?

Trapped between expectations for near double-digit returns and strong apprehensions about investing in persistently volatile markets, investors worldwide are of the opinion that professional financial advice is worth the fee. But even though they believe individuals who work with a financial professional are more likely to achieve their goals, investors have a clear vision of […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com