Report

March 2003

How To Sell Financial Services Online

Remus Brett 		European banks overlook online sales just as their customers are ready to buy online. Banks need to shake off their dot-com hangovers and adopt Dynamic Selling to identify online buyers and optimize product offers.
by Remus Brett with Dr. Torris, Marie Fagerström

MARKET OVERVIEW
  • More than 80% of banks now offer loans, investment products, and credit cards online.
  • But banks de-prioritize online sales in favor of low-cost service.
ANALYSIS
  • Firms will maximize online sales by adopting Dynamic Selling.
  • Real-time business intelligence tools match product, price, and presentation to customers' readiness to buy.
ACTION
  • Don't go for a big bang: Start out with a single process.
  • Progressively extend Dynamic Selling to multichannel sales using a right-channeling approach.
 
Figures & Data
  • Figure 1.  Banks Prioritize Online Self-Service Ahead Of Online Sales
  • Figure 2.  The Three Components Of Dynamic Selling
  • Figure 3.  The Evolution Of Online Banking Experience
   
RELATED MATERIAL 
  • Methodology
  • Companies Interviewed For This Report
  • Related Research
 
GRAPEVINE
  • Value-based pricing doesn't always create value.
  • ERM takes over from CRM.
  • Putting a price on systems failure.

 

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