Pricing for Financial Services
|
|
| Event Name: | Pricing for Financial Services |
| Description: | The financial services industry is undergoing a period of dramatic change unlike nothing seen since the great depression. Credit has been tight, with some of the most famous financial service institutions both large being allowed to fail. The worldwide sub-prime crisis is reshaping how banks, insurance companies and credit agencies develop go-forward strategies to attract and manage capital.
Over the last decade, the trend across many industries has been a steady decline in customer loyalty, especially retail banking. The advent of the Internet for general consumption has provided consumers with an efficient, low-cost approach for research alternative choices while concurrently creating price transparency. Traditionally, financial service institutions promoted product offerings and features to as broad an audience as possible to meet revenue and ROE targets. There was less attention to customer mix, customer profitability and customer relationship management to all but the most elite or ‘High Net Worth’ customers.
Effectively CREATING, IDENTIFYING, and COMMUNICATING your VALUE proposition to customers is therefore of the utmost in importance. The reward …THE “RIGHT” PRICE to THE “RIGHT” CUSTOMER.
By attending this Strategic Pricing Workshop, Michael will introduce you to the latest Value-Based Pricing techniques to analyze pricing processes that go beyond the industry’s current norm of purely risk and reference. Michael will also highlight several B2B and B2C case studies and provide you with some challenging group exercises to develop pricing and customer segmentation strategies.
RESULTS
More specifically, some relevant topics will help you;
1.Move from Destructive pricing practices
2.What are the reasons for the increased importance of pricing in financial services institutions, and how can pricing be used to increase profits?
3.Move from a standardized product rate approach to one driven by pricing to customers’ expectations of value.
4.Measure the value delivered to customers and how it differs across different customer segments e.g. Low Value, Mass Affluent, Strategic and High-Net worth Individuals.
5.Define price and product structures that take advantage of how customers perceive value differently.
6.Implement prices in ways that ‘erect fences’ between homogeneous customer segments that value bundles of products and services in a like fashion.
7.What effect does brand have on rates, fees and vice-versa?
8.What is a price-response function and how can this function be reliably determined to optimize prices for financial service products?
9.Move your financial service institution from a commodity-driven sales approach to customization and a personalized service offering
10.How should pricing be monitored by financial services institutions?
|
| Type of Event: | Industry Events - Banking - Finance |
| Event Agenda: | |
| Event Location: | TBD |
| Event City: | Brussels |
| Type of Venue: | Hotel |
| Station/Stop: | |
| Directions: | |
| Event Start Date | 29-Sep-10 |
|
|
IMPORTANT:
Only summary event information is shown here. Please
Sign-up or
Login to view complete event information or to receive a customized list of advertised events via email.
Why we ask you to sign-up?
View more Event Types here
|
|
|
|
|
|