Attracting new customers to enable business growth is tough and getting tougher. With new entrants to the investments market all the time, competing against these challengers is an additional headache to turbulent markets and low margins. It’s time to develop and deploy a strong retention strategy for your fixed-term products.
New digital-only entrants are quick to market, and quick to scale. Whether that is sustainable is yet to be seen, but it’s a challenge the more traditional investment providers are facing none the less. Add to that the ease at which customers can switch between providers and products, often using comparison tools and websites, and customer retention strategies are even more important to business success.
In an increasingly competitive market, and with uncertain times driven by both Brexit and the regulatory landscape, and with margins continuously under pressure, the imperative for retaining existing customers is even more compelling.
So, what should providers do?
- Be Proactive and Predictive
- Keep in Touch
- A Multi- and Omni-Channel Approach
Please download Target Group’s whitepaper in PDF format to find a detailed explanation of each.