Bankers today are caught between the rapidly rising cost of acquisition and the declining quality of new to bank customers. The cost of acquiring a new primary customer (CAC) now takes 4-5 years to pay back for ~75% of newly acquired customers. This clearly complicates the economic equation for new customer acquisition and underscores the imperative to crack the code on customer relationship deepening. In this webinar we delve into the latest data around the deepening imperative as well as outline tactical moves banks can make in 2023 to increase the depth of customer relationships and retention.
Three headwinds that are changing the acquisition equation in retail banking;
The must-win deepening agendas for 2023;
Practical strategies for implementing effective deepening strategies.
Sarah Welch, Managing Director, Curinos
Olivia Lui, Director, Curinos