Abstract
In modern market conditions, customers who purchase banking products require a high level of service. In particular, they require continuous real-time service with the ability to instantly “switch” between service channels. The article analyzed the economic component of the omnichannel sales management system in banking. The existing barriers to introducing omnichannels to the practice of banking management have been identified. The features of the calculation of individual elements of the cost of sales at various stages of the life cycle of sales (sales funnel) are considered. An economic–mathematical model for managing the cost and profitability of sales by selecting the optimal omnichannel chains was proposed. The omnichannel model of interaction with customers enables banks to simultaneously achieve several key goals of increasing their own business efficiency: increase sales while reducing their cost and improving the quality of customer service. The model can be used not only in banking, but also in other forms of retail business where it is possible to collect detailed statistics and build a factor analysis of conversion through a sales funnel.
Highlights
In modern conditions, customers purchasing banking products require a high level of service.In particular, they require uninterrupted real-time maintenance with the ability to instantly “switch”between service channels
One of the key ideas of the model was to take into account the total cost of the sales process of one unit of the sold product of all activities leading to the final sale, including losses at all stages of the sales funnel, as well as all development-related costs associated with sales software support, marketing, and promotion
Sales of the product in the channel (SPch) for a selected period of time are equal to the product of the target customer flow entered into the channel (ClF) by a statistically determined percentage of the conversion of this flow into sales (ChConv): SPch = ClF * ChConv
Summary
Customers purchasing banking products require a high level of service.In particular, they require uninterrupted real-time maintenance with the ability to instantly “switch”between service channels. Customers purchasing banking products require a high level of service. They require uninterrupted real-time maintenance with the ability to instantly “switch”. Omnichannel sales are transactions in which several channels take part in the sale of a single product unit. They are the predicted trend of the few years of e-commerce (Koneva 2019). The bank, for its part, sees sales statistics in a single information store and can manage all channels at once (Koneva 2019)
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