Internet customer acquisition strategy at Bankinter
Consumer relationship management: Case study Bankinter
Remco Wezepoel
14/10/2013
Which channel (8700, alliances, e-collaborators) performs better for the bank, and why? And what acquision strategy would you recommend to Bankinter? What actions should be taken by Ana Peralta?
In order to choose the best consumer acquisition strategy for Bankinter it is necessary to look at the profitability of the customers. It is nice to have a lot of customers, but this does not really make sense when these customers ensure your company with losses. It is important to look at the profitability of customers in the long-term. Based on exhibit 11 in the article, it is possible to calculate the average consumer equity. As you can see in appendix 1, the total profit for new internet customers after four years for the e-collaborators channel is 377.194 and -5.336.149 for the 8700 channel. In my opinion it is not really useful to calculate this number for the alliances channel, since the article mentions that these alliances were terminated because of high acquisition costs as a result of promotion and advertising fees.
With the numbers of customers (exhibit 7) it is possible to calculate the average customer equity per customer per channel. For the 8700 channel this average equity is (-5.336.149/39.643) -135 dollar per customer. For the e-collaborators channel this equity per customer would be (377.194/2.996) 125,90 dollar.
Based on these numbers, it is clear that the e-collaborators channel performs way better for the bank and thus I would recommend the e-collaborators strategy to Bankinter. Actions which should be taken by Ana Peralta are focusing on making more customers “formalized customers”. In exhibit 10 in the article it can be seen that only 24% of the clients in the e-collaboration channel are registered. When Bankinter should emphasize more on the online registration, it is possible to obtain more detailed information about the customers. This information can be
Remco Wezepoel
14/10/2013
Which channel (8700, alliances, e-collaborators) performs better for the bank, and why? And what acquision strategy would you recommend to Bankinter? What actions should be taken by Ana Peralta?
In order to choose the best consumer acquisition strategy for Bankinter it is necessary to look at the profitability of the customers. It is nice to have a lot of customers, but this does not really make sense when these customers ensure your company with losses. It is important to look at the profitability of customers in the long-term. Based on exhibit 11 in the article, it is possible to calculate the average consumer equity. As you can see in appendix 1, the total profit for new internet customers after four years for the e-collaborators channel is 377.194 and -5.336.149 for the 8700 channel. In my opinion it is not really useful to calculate this number for the alliances channel, since the article mentions that these alliances were terminated because of high acquisition costs as a result of promotion and advertising fees.
With the numbers of customers (exhibit 7) it is possible to calculate the average customer equity per customer per channel. For the 8700 channel this average equity is (-5.336.149/39.643) -135 dollar per customer. For the e-collaborators channel this equity per customer would be (377.194/2.996) 125,90 dollar.
Based on these numbers, it is clear that the e-collaborators channel performs way better for the bank and thus I would recommend the e-collaborators strategy to Bankinter. Actions which should be taken by Ana Peralta are focusing on making more customers “formalized customers”. In exhibit 10 in the article it can be seen that only 24% of the clients in the e-collaboration channel are registered. When Bankinter should emphasize more on the online registration, it is possible to obtain more detailed information about the customers. This information can be