Financial Services Marketing
According to a Goldman Sachs study, online banking provides more revenue per customer and costs less per transaction than other methods of access. For each online customer, Wells Fargo, for example, earns 1.5 times more revenue than it earns from other customers. At the same time they spend just 86 cents for each online customer for every dollar it spends on each off-line customer.
Implications of the Internet for financial services companies extend far beyond cost-savings and product offerings. A Cyber Dialogue study recently documented the vulnerability of financial brands which indicated that some 10.3 million Americans changed their opinions about financial services' providers as a result of information received online. In fact, 3.1 million of them changed service providers as a result of their online experiences. The respondents were consumers of insurance, brokerage and banking services.
Regional and international financial services brands have leveraged online media for their financial services marketing getting better ROI.
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