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,†¦show more content†¦Transactions were done from the Bankinter site, so it was hard for competitors to get expertise in their online system. More insight in customer behavior, so ability to analyze the customers properly. In my opinion, the strategy of the company is smart and adopting to current developments. With the growth of the internet it was a must (and a missed chance if there was not) to focus on this medium. Bankinter did that with the alliances. While the alliances resulted in more new customers, the price was quite high, the brand was too much hidden and the competitors copied the banks’ strategy. So Bankinter started with the e-collaborations. These high-traffic-websites approach collaborations generated even more customers (exhibit 1 in the article). These customers were attracted by providing them with incentives. This e-collaborations approach resulted in lowered customer acquisition costs and made it possible to set up a proper consumer relationship management system, which provided the company with insight in the behavior of the customers. According to the case, the changes which the bank has made generated new customers with a higher customer equity. However, the overall strategy is a little unclear to me. Besides that, nothing is said about the performances of the competitors at the same moment in time. Were they also gaining in their customers? Or did they lose customers? And if so, was this because of the changes which Bankinter made or did they wentShow MoreRelatedBankinter analysis1629 Words   |  7 Pagesï » ¿BANKINTER INTRODUCTION TARGET Intro: The case begins with Ana Peralta,(Director of the Internet Network at Bankinter) analyzing the success of Bankinter’s foray into e-banking through a progressive portalization strategy executed through E-collaborator. This approach was a great success for the Bank nearly doubling the number of new clients with lower costs involved. Riding on this positivity, their stock doubled within a month! There was no doubt that the success of the internet businessRead MoreNissan Strategic Management Report3777 Words   |  16 Pageswe can see Nissans market share is shown in the figure below. 2.1 GENERAL ENVIROMENT 2.1.1 SWOT ANALYSIS According to Grant, M.(2002), the allocation of the external and the internal factors of a company is commonly used for analyzing business strategies. The SWOT analysis (strengths-weaknesses-opportunities-threats) intends to point out the most important external and internal factors that are essential for the organization to accomplish their objectives. This analysis groups important information