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Shared Customer Research

Can you increase your wallet-share of customers you share with your competitor? How would you start?

CASE HISTORY:

Hershell Bank and Trust has determined that it shares customers with four major competitors. The biggest competitor is SECU, the State Employees' Credit Union. Online Bill Pay customers appear more likely to choose Herschell as their primary bank. To a lesser extent, HELOC customers feel similarly. This may suggest a strategy of concentrating on acquisition of increased Online Bill Pay and HELOC market share since those customers appear to be far more loyal.

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Loyalty marketing is a long-term strategy, not a one-shot tactic.