Webinars

Bank Reward Programs, Customer Satisfaction and Loyalty


Members of Mercator Advisory Group have access to the full library of recorded Webinars and the privilege of participating on all Mercator Advisory Group webinars free of charge.

Non-Members (FEE): A $250 is charged for non-members that register for each event. After registering for the event, Mercator Advisory Group will contact you to confirm your registration and process payment. We accept all major credit cards.

Media: Members of the press/media interested in participating in the teleconference can contact Karen Yetter at: media@mercatoradvisorygroup.com for media credentials for this online event.


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    This Webinar is available for purchase by non-members for $250

While banks are efficiency and profit maximers, current retail reward programs and overdraft fees policies are jeopardizing the long-term health of retail customer satisfaction and loyalty. By retaining 2-5 business day check clearing schedules and largest-first check payment policies, banks have seen their insufficient check fee income increase to $17.5 billion. However, that income, which represents only 6% of the total non-interest income for the US Banking Industry, has generated out-sized customer discontent and defections and we predict, that left unaddressed, will prompt both legislative and judicial scrutiny and regulation. 

 

Banks have given too much responsibility to a $34 fee. Retail banks must refocus by embracing new social networking technologies and real-time virtual customer interactions to sell bank products and services. Banks must reassume their trusted advisor mantle and imbue sales with human interactions and indeed, humanity. We will discuss how fair customer engagement and non-punitive fee schedules ultimately will generate new fees and income without customer pushback or defection. While this regeneration of goodwill by retail bankers will take significant time, this teleconference will focus on discussing marketing strategies and new product features that will expedite that process.