PK Nair: But the point is that you may 2000 branches and it is hard to replicate the same across all the branches.
Rajesh: What I am trying to say is that informally the PSUs are already doing it. They interact with so many customers daily that it is easy for them to bounce off the information to customers. For instance, if a customer purchases a car and is unhappy with his choice, the bank on hearing about this could pass on the information to other prospective customers. They can then make it formal.
PK Nair: Do you offer the car loan from a branch or do you offer it from a retail asset group?
Asha: It is now a centralized retail asset hub. But the leads are sourced through the branch. When 1 have a wide network of 2000 branches, why do I need to centralize it? Some banks do not have the advantage of a network.
Narayanan: The question is whether your marketing is information driven or transformation driven. Information driven marketing may be able to give you volumes but not values, especially in an era which is either customer convenience or affinity. What is required is to reach the headlines or the heartlines. That's what going to count. If you manage to hit the heartlines of the customer, there is no need to hit the headlines. Information may help you to reach the headlines, but unless your personal relationship at the touchpoint of the customer will only help you to reach the heartlines. And when you reach the heartlines, your relationship with the customer gets strengthened. And that's why it's the greatest relationship for banking because it is almost relationship driven.
Rajesh: What I am trying to say is that informally the PSUs are already doing it. They interact with so many customers daily that it is easy for them to bounce off the information to customers. For instance, if a customer purchases a car and is unhappy with his choice, the bank on hearing about this could pass on the information to other prospective customers. They can then make it formal.
PK Nair: Do you offer the car loan from a branch or do you offer it from a retail asset group?
Asha: It is now a centralized retail asset hub. But the leads are sourced through the branch. When 1 have a wide network of 2000 branches, why do I need to centralize it? Some banks do not have the advantage of a network.
Narayanan: The question is whether your marketing is information driven or transformation driven. Information driven marketing may be able to give you volumes but not values, especially in an era which is either customer convenience or affinity. What is required is to reach the headlines or the heartlines. That's what going to count. If you manage to hit the heartlines of the customer, there is no need to hit the headlines. Information may help you to reach the headlines, but unless your personal relationship at the touchpoint of the customer will only help you to reach the heartlines. And when you reach the heartlines, your relationship with the customer gets strengthened. And that's why it's the greatest relationship for banking because it is almost relationship driven.
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