Evolution of Business Models

#7. Could a Decentralized Movement for Equality be the Solution?
With a leadership vacuum on the topic of equality, maybe the solution is a decentralized movement, using social media as a communications platform, stimulating dialogue and collaboration, and building social fabric through communities. Michael Ruckman and Dr. Mark Tribbitt wrap up their discussion on current issues with equality and building social harmony.
#1. Difficult for Banks to Think About the Customer?
Are share price forecasts holding banks back from acting in the interest of their customers? It seems that banks are having a hard time with customer-centricity, for sure. Michael Ruckman and John Berry, CEO of EFMA (European Financial & Marketing Association), have a discussion about the banking industry and customer-centric business models.
#2. Are We Asking Customers the Right Questions?
Maybe NPS does not give enough information and there are other questions that we should be asking? What customers actually think and how they feel about banks will drive behavior, for sure. Michael Ruckman and John Berry, CEO of EFMA (European Financial & Marketing Association), have a discussion about the banking industry and customer-centric business models.
#3. Are banks helping people to achieve goals?
Banks have the data, scale, and knowledge to add tremendous value in life events, but many don't use what they have. In fact, most banks are simply focused on pushing more product. Michael Ruckman and John Berry continue their discussion on the effects of Coronavirus on the banking industry and the possibility for banks to be customer-centric.
#3. Are banks helping people to achieve goals?
Banks have the data, scale, and knowledge to add tremendous value in life events, but many don't use what they have. In fact, most banks are simply focused on pushing more product. Michael Ruckman and John Berry continue their discussion on the effects of Coronavirus on the banking industry and the possibility for banks to be customer-centric.
#4. Organizational Structures and KPIs May Prevent Banks from Being Customer-Centric
What is holding banks back from being customer-centric? Turns out, the problem might be with outdated organizational structures, management models, and performance measures. Michael Ruckman and John Berry continue their discussion on the effects of Coronavirus on the banking industry and the possibility for banks to be customer-centric.
#5. Stop Selling! Help Your Customers Discover Their Desire to Buy From You!
Banks continue to push product everywhere without really understanding customer needs and desired outcomes. Turns out, quality of relationships might be a better measure of loyalty than sales performance. Michael Ruckman and John Berry continue their discussion on the effects of Coronavirus on the banking industry and the possibility for banks to be customer-centric.
#6. How Will Customer Perception Help or Hurt Banks After the Crisis?
In the absence of distinct curriculum in schools and universities on how to manage finances, customers are often left to their own devices to learn appropriate financial discipline and day-to-day money management. Banks could easily fill this very visible void to add value and promote financial health. Michael Ruckman and John Berry continue their discussion on the effects of Coronavirus on the banking industry and the possibility for banks to be customer-centric.
#7. What Customers Really Want From Their Bank?
Surprisingly, customers are seeking help from banks to solve problems, realize goals, and improve their quality of life, and banks have the tools, data, and partner networks to do just that. Can banks change their thinking to fulfill this role? Michael Ruckman and John Berry continue their discussion on the effects of Coronavirus on the banking industry and the possibility for banks to be customer-centric.
#7. What Customers Really Want From Their Bank?
Surprisingly, customers are seeking help from banks to solve problems, realize goals, and improve their quality of life, and banks have the tools, data, and partner networks to do just that. Can banks change their thinking to fulfill this role? Michael Ruckman and John Berry continue their discussion on the effects of Coronavirus on the banking industry and the possibility for banks to be customer-centric.
#8. What Will the Banking Industry Look Like in 50 Years?
There is the grim forecast and the optimistic vision. Michael Ruckman and John Berry continue their discussion on the effects of Coronavirus on the banking industry and the possibility for banks to be customer-centric.
#9. The Secret: Find Ways to Create Value for Your Customers!
If you are not creating value for your customers, the future looks fairly grim. Banks must learn to create value for customers through life events and themed ecosystems of solutions for a life journey. Michael Ruckman and John Berry wrap up their discussion on the effects of Coronavirus on the banking industry and the possibility for banks to be customer-centric.
The Evolution of Business Models (Module 1)
The evolution of business models from product-centric to customer-centric to relationship-centric.