Financial Services Marketing, 2nd Edition

14   Customer relationship management

Principles and practice

Learning objectives

At the end of this chapter you should be able to:

•  understand the importance of relationship marketing and customer retention in financial services;

•  understand the interactions between customer acquisition, customer retention and marketing activities;

•  understand the nature and significance of the concept of customer lifetime value;

•  be aware of contextual influences on the management of customer relationships;

•  appreciate how digital marketing is impacting on customer relationship marketing strategies.

14.1 Introduction

Until comparatively recently there had been a presumption that marketing was principally concerned with the processes surrounding ...