How to develop a customer retention program

Description

Abstract: In the current competitive banking market, it’s important for community banks to recognize that customers need more than the typical products and usual services as an incentive to choose their banks over others. This article looks at the strategies banks can implement to help attract customers and retain them over time, including analyzing core deposits and encouraging front-line employees to engage in relationship building. The article notes that a bank that identifies, and meets, current and potential customers’ needs is likely to generate a stable customer base.