Charles Schwab Essay
CASE STUDY OF CHARLES SCHWAB & CORPORATION:
The Charles Schwab Corporation is a leading provider of financial services, with more than 300 offices and 7.5 million client brokerage accounts, 1.5 million corporate retirement plan participants, 508,000 banking accounts, and $1.1 trillion in client assets as of March 31, 2009. Through its operating subsidiaries, the company provides a full range of securities brokerage, banking, money management and financial advisory services to individual investors and independent investment advisors. They started business in 1971. Company started internet based stock broking and Developed CRM to communicate various segment of the business. They focused on technology and financial service in their business …show more content…
in later phase Schwab added stock consultation service. Schwab expanded by acquiring financial service company and technology based companies. This strategy helped them to meet the expatiation of changing business environment.
Q. Can u identify the various steps for effective campaigns management in the case?
Campaign Management is a series of marketing steps used to achieve specific goals of a strategy.
The goals or key objectives of a campaign can help in deciding the strategy, mode of delivery and to report ROI. We know that one single campaign isn’t enough; there are multiple tactics that come together which influence the creation and closing of opportunities. There are such steps for effective campaigns management which focused by Charles Schwab Corporation.
Multi-Channel Campaign Management used by Charles Schwab & Corporation:
There are such Multi-Channel Campaign Management used by Charles Schwab & Corporation:
Target Customer Segments:
There are such effective ways for target campaign- * Existing customers – Define target audience based on objective of campaign. Marketing and sales can collaborate to define fields on the basis of which future segmentation can be done. This could be fields on sales screens, leads or opportunities. * Leads: consider using current and past leads. * New Leads: Buying and using 3rd party leads, removing suspect leads, importing, de-duping against existing customers and past lead data. Schwab segmented its market and used different channels to communicate them. Such Some of this segment is (1.) New investor (2). Customer planning and retirement (3). Active trader
etc.
Define Promotional Offers: Charles Schwab & Corporation gave differential offer to different segment .Such as unlimited money transfer, Gold VISA, online bill payment etc .Schwab provided a collaborative environment to define, review and communicate offers in a consistent manner across multiple channels and multiple campaigns.
Analyze and Customize Content:
In this state clearly defining what a response means and what will be the follow up can help in evaluation success or failure. Schwab analyzed and customized the promotional offer by referring the case it mentions that customer could choose their channel in which they would like to get communicated and have better value. The trading need one to one service and stock will needed timely and continent information.
Measure success of Campaign.
Analyze responses and track follow up , measure ROI via reports, Budget vs Actual Cost, Response rate, Leads, Opportunities, Quotes, Orders etc. such are tool for measure success campaign . Example success of e-trading it moved to Tele-trading and later integration of multi channel has adopted by Schwab segmented.
The Charles Schwab Corporation is a leading provider of financial services, with more than 300 offices and 7.5 million client brokerage accounts, 1.5 million corporate retirement plan participants, 508,000 banking accounts, and $1.1 trillion in client assets as of March 31, 2009. Through its operating subsidiaries, the company provides a full range of securities brokerage, banking, money management and financial advisory services to individual investors and independent investment advisors. They started business in 1971. Company started internet based stock broking and Developed CRM to communicate various segment of the business. They focused on technology and financial service in their business …show more content…
in later phase Schwab added stock consultation service. Schwab expanded by acquiring financial service company and technology based companies. This strategy helped them to meet the expatiation of changing business environment.
Q. Can u identify the various steps for effective campaigns management in the case?
Campaign Management is a series of marketing steps used to achieve specific goals of a strategy.
The goals or key objectives of a campaign can help in deciding the strategy, mode of delivery and to report ROI. We know that one single campaign isn’t enough; there are multiple tactics that come together which influence the creation and closing of opportunities. There are such steps for effective campaigns management which focused by Charles Schwab Corporation.
Multi-Channel Campaign Management used by Charles Schwab & Corporation:
There are such Multi-Channel Campaign Management used by Charles Schwab & Corporation:
Target Customer Segments:
There are such effective ways for target campaign- * Existing customers – Define target audience based on objective of campaign. Marketing and sales can collaborate to define fields on the basis of which future segmentation can be done. This could be fields on sales screens, leads or opportunities. * Leads: consider using current and past leads. * New Leads: Buying and using 3rd party leads, removing suspect leads, importing, de-duping against existing customers and past lead data. Schwab segmented its market and used different channels to communicate them. Such Some of this segment is (1.) New investor (2). Customer planning and retirement (3). Active trader
etc.
Define Promotional Offers: Charles Schwab & Corporation gave differential offer to different segment .Such as unlimited money transfer, Gold VISA, online bill payment etc .Schwab provided a collaborative environment to define, review and communicate offers in a consistent manner across multiple channels and multiple campaigns.
Analyze and Customize Content:
In this state clearly defining what a response means and what will be the follow up can help in evaluation success or failure. Schwab analyzed and customized the promotional offer by referring the case it mentions that customer could choose their channel in which they would like to get communicated and have better value. The trading need one to one service and stock will needed timely and continent information.
Measure success of Campaign.
Analyze responses and track follow up , measure ROI via reports, Budget vs Actual Cost, Response rate, Leads, Opportunities, Quotes, Orders etc. such are tool for measure success campaign . Example success of e-trading it moved to Tele-trading and later integration of multi channel has adopted by Schwab segmented.