The Rising Challenge at Banks: Re-Engaging Dormant Customers
Join this discussion around the rising challenge of customer disengagement and the strategies and tools needed to reengage dormant customers and promote ongoing engagement with existing customer populations.
A rising challenge that banks are facing today is customer disengagement. Post-onboarding, there is a significant engagement drop off leading to an increase in dormant customers. In fact, Cornerstone Advisors found that 66% of banking customers today are disengaged. So, with the plethora of digital tools available today, what can banks do to re-engage dormant customers on the cusp of churn? How can ongoing engagement with existing customers impact customer lifetime value, loyalty, and retention?
Join Justin Dunn, CMO at WSFS Bank and Steve Gillin, President at Relay Network, in a lively discussion moderated by former bank CMO and financial services marketing executive, Tricia Gabberty, around the rising challenge of customer disengagement and the strategies and tools needed to re-engage dormant customers and promote ongoing engagement with existing customer populations.
Key Takeaways:
- Understanding the impact dormant customers are having on a bank’s bottom line
- Post-acquisition strategies on how to re-engage the dormant customer population
- The benefits of sustained engagement with the existing customers, including increased loyalty and retention
- How to balance priorities between customer acquisition and customer engagement initiatives
