Crm Assignment

8702 Words35 Pages
Introduction

Student banking is an important aspect of banks and students because it provides a suite of financial, educational and social engagement services that collectively help students to better understand banking and how to smartly interact with finances. In this regard, FNB should attract, acquire, satisfy and retain students because they represent future profitability if successful relationships are created. However for this to be done, the bank needs to successfully market itself to this target segment by giving them reasons to bank with FNB, offer incentives to students and offering value added benefits that best satisfies the students’ needs. It is imperative that FNB create a sense of trust and commitment by tailoring
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This will get FNB great coverage and interaction with this market. But these trends require accurate targeting and engaging content. In their dialogues and promotional communications materials FNB should focus on how they can best motivate their individual customer and call for their action. They should live up to their ‘How can we help you’ slogan, and really get down to helping when customers require the assistance. In today’s relationship marketing it is no more enough to track the experiences of your customers and learn about them. It is about enriching every interaction you have with your customers by welcome calls, helpdesk, customer service setup support, complete customer care, complaint handling, win-back programs.

FNB should also try to engage their student market with educational yet fun and interactive games and problem-solving through social media sites and mobile applications. The student market is generally prone to participate in fun and rewarding competitions. FNB could attract the student market by teaming up with ‘party’ events and night clubs that will allow students discounts on entrance fee as well as drinks. This would be an effective way to communicate with this market and really grab their attention.
The 6 core value chain aspects will now be discussed:

Acquisition
In terms of acquisition, CRM strategies should assist a bank to target
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