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Specific markets: How to accelerate conquest and retention

Marketing

Publication

Retail Banking

Trends

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The affinity approach is at the heart of the banking market strategy, and it is attracting more and more banks, which see it as a good way of winning over new customers. “The target becomes a group of people with the same expectations in terms of affinity.

Different targets with high stakes in terms of winning and retaining customers can be identified using membership criteria such as professional status, lifestyle, nationality, level of ethical sensitivity, etc.

In concrete terms, several marketing levers can be activated for implementation, such as a basic banking offer with enriched banking services and extra-banking services, advantageous pricing, targeted communication and the most relevant distribution channels to be mobilised.

Finally, in order to build an affinity programme, the marketing mix must first be defined and then applied to the main stages of the customer journey, from the upstream phase of the journey to the subscription stage and throughout the customer’s life.

Authors

Salwa Belhachmi

Manager

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