Bank Switching Behaviors in the Digital Age

MAR

05

The likelihood of a customer switching primary bank accounts is very low. In fact, the intention to switch is 8 times higher than the action to switch. In this webinar, we share research on zones of indifference, inertia thresholds and pricing sensitivities; and through case studies hear where non-monetary incentives, behavior-based strategies, pricing, segmentation and consistent rewards can impact bank switching behaviors. Understand why customers don’t switch banking relationships in the digital age, and reimagine campaigns for greater effectiveness.

  • Develop a more comprehensive understanding of the barriers to switching as it relates to the new retail banking landscape
  • Learn how to leverage analytics, big data, behavioral economics and pricing strategies to remove barriers and challenges
  • Identify the key factors that impact switching behaviors including proposition, brand and reputation, customer sentiment and inertia
  • Reimagine customer segmentation to support new acquisition and deposit growth

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