Springfield Bank’s Mobile Strategy: Using Analytics to Influence the Next Generation
Topics: Customer eCommerce Internet of Things
Alva H. Taylor
Length: 9 pages
Publication date: 2018
CASE: 2018SPR
Springfield Bank’s Mobile Strategy: Using Analytics to Influence the Next Generation
Ryan Milligan (T’19 and MBA Associate of the Center for Digital Strategies), Professor Alva Taylor, and Omer Trajman prepared this Tuck School of Business case solely as the basis for class discussion. The case is not intended to serve as endorsements, factual information, sources of primary data, or illustrations of effective or ineffective management.
Alison Millner, SVP of Digital Marketing at Springfield Bank, had a lot on her mind as she finished her cup of coffee on a rainy Monday morning in January of 2015. Millner was just starting her third month leading the digital marketing team at Springfield, having been brought on by bank CEO Grace Lupitz to both increase cross-selling of products within the bank and expand the bank’s presence with younger generations. Springfield Bank has been slowly losing their older customers through natural attrition, and had failed to attract new customers to replace the lost business. This was additionally important as the revenues per customer for their older customers were significantly higher than for those gained from younger customers. Millner had spent the past few months learning about the complexities of the banking industry and now had to develop and execute a plan to achieve her objectives. Millner specifically needed to determine how Springfield could appeal to younger customers without alienating its core customer base. This would be a daunting task if she had a budget large enough to, say, launch a new brand. Unfortunately, her resources were significantly more constrained.
