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The following matrix is designed to help the strategic planning process. Consumer strategies are divided into three categories: products, general marketing, and customer satisfaction/service strategies. Each tactic is categorized as either: Column 1: State-of-the-art, features needed to be among the best online providers: the best out there; Column 2: Competitive Advantage, features that differentiate you from the competition; Column 3: Other tactics.
|
Strategies |
| A. Consumer Section 1.
Product-marketing strategies, |
| 2. General marketing strategies A. Increase flow of prospects to website B. Enroll more online banking users C. Enter new geographic markets D. Attract new residents and movers E. Target vertical/niche markets F. Increase referrals and word-of-mouth G. Appeal to investors |
| 3. Online banking satisfaction
strategies A. Increase activation and usage B. Encourage/reward self-service C. Improve community involvement D. Increase trust of ecommerce E. Improve quality F. Save defecting users |
| B. Small Business Section |
| C. What to Charge: pricing online services |
Source: Online Banking Report, 8/03
Notes: (1) Features to put you at parity with the best online competition.
(2) Differentiating strategies that provide either a competitive advantage
or incremental profit opportunity or both 8
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