Here are some questions to ask in evaluating potential software partners:
*Do they share the institution’s objectives? The bank – and its customers – must know that information is provided in a spirit of mutual interest. Bank-sponsored promotions must not be confused or diluted by other influences. With software companies beginning to compete with their clients for customer dollars – witness Intuit Inc.’s venture into credit cards and mutual funds – banks must screen software providers carefully and must protect themselves and their customers from arrangements that have the potential to divert assets and potential assets to the vendor.
*Do they provide interactive, value-added applications that give customers compelling information? The best software capitalizes on the opportunity to support customer decision-making in an engaging way, with plenty of room for interactivity and personalization. The key is superior education and advisory capabilities, so that the customer comes to rely upon your site and your institution for assistance with financial product and service needs.
In our initial blitzkrieg, we clearly had more resources than organization. In the space of three days, five marketing and sales people were wandering around our biggest customer’s offices independently, bumping into each other and calling on the same people two and three times. No wonder we seemed unfocused.
Below are some useful guidelines for adapting marketing operations in a Europe that, while increasingly open, is still a collage of widely differing local markets.