Mike Larkin pitches Portfolio Protection, a service that predicts which bank customers will need loans in the next 30-90 days using life-change indicators like new parenthood or retirement. Banks lose 10-30% of customers yearly; cutting defection by just 5% can boost profits up to 30%.
Fact: All financial institutions have customers who defect to another business. Many lose 10% to 30% of their customers every year. They defect because they either are dissatisfied or have a life-changing event. This defection has 2 big effects: 1. The business loses revenues from the customers that leave. 2. The business now spends between $200 to $700 to replace these defection customers. Defection. Why does it matter? Reducing customer defection by just 5% will increase profit up to 30%. Introducing Portfolio Protection from American Solution for Business. What if you knew your customers were leaving before they did? Up to 60% of your portfolio could have at least one of the 12 key acts of life-changing indicators, such as new parent, newly married, newly single, Recently retired, and more. How do we do it? 1, we utilize a proprietary multi-source database to project the likelihood that specific consumers will need a loan within the next 30 to 90 days. 2, each month we provide a report by customer with risk loss data related to the 12 key acts of life change indicators. 3, you can act on the report by calling, emailing, or using our resources. to remarket by social ads or mail. 4. We provide a matchback analysis which shows retention and cross-selling results with ROI. Are you ready to spend efficiently, optimize effectively, grow exponentially? To schedule a brief discovery call, please call Mike Larkin, 515-577-3750.
