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One Customer at a Time

Communicating with your customers through a computer may be easier and less expensive in the short term, but a recent study suggests that financial services ...

By Robert Regis Hyle | Updated on March 31, 2002

Communicating with your customers through a computer may be easier and less expensive in the short term, but a recent study suggests that financial services companies need to develop different strategies for dealing with those customers if they hope to establish a continuingand profitablerelationship.

Jonathan Brookner, principle author of the report, One to One in Retail Financial Services: New Strategies for Creating Value Through Customer Relationships, believes that the more commodity-driven the insurance industry becomes with its products, the greater the danger that customers will see themselves as commodities. (The report was prepared by the Peppers & Rogers Group (www.1to1.com) and LOMA (www.loma.org).)

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