Global online dating market size
- Craft offerings and channels to serve high-value segments effectively.
Knowing the economics of loyalty, by segment, allows you to form a clear idea of what will yield the highest returns on investment.
The way to accomplish this is through an omnichannel approach—integrating disparate digital and physical channels into a single, seamless experience—tailored to address the priorities of each customer segment. For instance, banks in Asia and the US have launched video teller machines that connect customers via video chat with service specialists at a central location.
Replacing branch tellers with video has reduced costs for banks and expanded hours for customers.
- Start channel redesign now to serve the mass market profitably—before outside disruptors do.
Waiting to act on branch redesign until the branches are drained of all transactions will be too late. A reliable metric such as Net Promoter®, which sorts customers into promoters, passives and detractors, helps a bank understand how it stacks up against competitors.
Here, the afﬂuent tend to give higher loyalty scores.
A full accounting of cost-to-serve often reveals that a bank spends more to serve its lowest-value customers.
Banks must reduce the cost to serve mass customers, while still providing service that is quick, easy and fee-free.
In the US, mobile usage jumped to 32% of customers from 21% in 2011.
Usage in 2012 ranges from 47% of respondents in South Korea to 37% in India to 16% in Germany.