In consumer goods, direct-to-customer (D2C) strategies have become core sales approaches. Already in the 1990s, Citibank branch advisors were only available by appointment - either pre-arranged or on-site, with a meeter-greeter guiding service customers to the self-service area.įor more modern examples, we need to look elsewhere. One of the earliest examples is still out there and is going back to the times where Citibank operated retail banks in various European markets. A few mass market and consumer finance-focused lenders are pursuing outbound-oriented models with branches focusing on converting leads. Offline-only customers now account for less than 20% of the base1 - just half of their share only a decade ago, with this downward trend continuingĪlternative formulas to the main one of cutting into the network are hard to find (in our 2021 Retail Banking Monitor, our analysis indicated that by 2023 40 percent of the 2019 branches would be gone across Europe).Sales KPIs do not benefit from the changes made, with sales appointments per advisor remaining between 1 and 2 per day, and the share of service over sales tasks tending to increase in a cut-down network.Network cuts, on the other hand, show (very) limited effects in terms of attrition, even after some time (cutting the network by half, as some have done, means losing barely more than 20 percent of customers anymore, very different to a decade ago).
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