My ideas for strategy based on prof Sugai's slides

The 8700 customers are found to be very knowledgeable consumers who know about banking and can choose the best services. It is seen they require lot of services but a higher percentage of them are profitable. So it would be good to attract more such customers. It I seen 50% of them hold online stocks. So they are interested in stocks. So if the bank were to create an online forum or a blog where people can discuss about stocks, it may attract lot of this kind of people who can be converted into customers for e-broker. Similarly forums or blogs about housing, where people can discuss about the houses they can buy may attract kind of people who may go for e-mortage. We see that profitability per customer is very high in these segments (353 and 349) as against other products (38). It is also seen higher percentage of them are profitable (88 and 90 %) as against 52% for the rest. They are also loyal showing attrition rates of 7% and 1% as against 23% for the rest. So it would be good to attract them by creating a forum for such people to discuss and gaining publicity for the bank through that, The forum will also give feedback on improving services to the consumers as it will give some feedback on how consumers use the existing services and what they may need. I addition some attractions can be provided such as online contests such as to predict the best stock to buy.

To retain customers, it would be good to send them newsletters with latest developments in stock markets and recommendations. The customers finding this useful may recommend their friends to go for the bank.

Large volume customer acquisition – By strategic alliances with companies to provide salary accounts for its employees. Creating a special page for the company through which employees of the company can communicate with the bank and also provision for companies to conduct their financial transaction with their employees such as monthly pay roll, stock options etc. through the bank in a simple way.