Recherche avancée

Sur d’autres sites (6260)

• Strategies for Reducing Bank Customer Acquisition Cost [2024]

  24 septembre 2024, par Daniel Crough — Banking and Financial Services

  Acquiring new customers is no small feat — regardless of the size of your team. The expenses of various marketing efforts tend to pile up fast, even more so when your business operates in a highly competitive industry like banking. At the same time, marketing budgets continue to decrease — dropping from an average of 9.1% of total company revenue in 2023 down to 7.7% in 2024 — prompting businesses in the financial services industry to figure out how they can do more with less.

  That brings us to bank customer acquisition cost (CAC) — a key business metric that can reveal quite a bit about your bank’s long-term profitability and potential for achieving sustainable growth. 

  This article will cover the ins and outs of bank customer acquisition costs and share actionable tips and strategies you can implement to reduce CAC.

  What is customer acquisition cost in banking ? 

  

  The global market volume of neobanks — fintech companies and digital banking platforms, often referred to as “challenger banks” — was estimated at $4.96 trillion in 2023. It’s expected to continue growing at a compound annual growth rate (CAGR) of 13.15% in the coming years, potentially reaching $10.44 trillion by 2028.

  That’s enough of an indicator that the financial services industry is now a highly competitive landscape where companies are often competing for the attention of a relatively limited audience. 

  Plus, several app-only banks based in Europe have made significant progress in attracting new customers to their financial products : 

  

  Unsurprisingly, this flurry of competition is putting upward pressure on customer acquisition and retention costs across the banking sector.

  Customer acquisition cost (CAC) — the sum of all costs and resources related to acquiring an additional customer — is one of the key business metrics to keep an eye on when trying to maximise your return on investment (ROI) and profitability, especially if your company operates in the banking industry.

  Here’s the basic formula you can use to calculate the cost of acquisition in banking : 

  Customer Acquisition Cost (CAC) = Total Amount Spent (TS) / Total New Customers Acquired (TNC)

  In essence, it requires you to divide the total cost of acquiring consumers — including sales and marketing expenses — by the total number of new customers your company has gained within a specific timeframe.

  There’s one thing you need to keep in mind : 

  The customer acquisition process involves more than just your marketing and sales departments. 

  While marketing and sales channels play a crucial role in this process, the list of expenses that may contribute to customer acquisition costs in banking goes well beyond that. 

  Here’s a quick breakdown of the customer acquisition cost formula to show you which costs make up the total amount spent : 

  • All advertising and marketing costs, including traditional (direct mail, billboards, TV and print advertising) and digital channels (email, Google ads, social media and influencer marketing)
  • Cost of outsourced marketing services, including any independent contractors involved in the process 
  • Salaries and commissions for the marketing team and sales representatives
  • Software subscriptions, including marketing software and web analytics tools 
  • Other overhead and operational costs 

  And until you’ve taken all these expenses into account, you won’t be able to accurately estimate how much it actually costs you to attract potential customers.

  Another thing to keep in mind is that there’s no universal definition of “good CAC.” 

  The average customer acquisition cost varies across different industries and business models. That said, you can generally expect a higher-than-average CAC in highly competitive sectors — namely, the financial, manufacturing and real estate industries. 

  Importance of tracking customer acquisition cost in banking 

  

  Customer acquisition costs are an important indicator of a banking business’s potential growth and profitability. Monitoring this fundamental business metric can provide data-driven insights about your current bank customer acquisition strategy — and offers a few notable benefits : 

  • Measuring the performance and effectiveness of different channels and campaigns and making data-driven decisions regarding future marketing efforts
  • Improving return on investment (ROI) by determining the most effective strategies for acquiring new customers 
  • Improving profitability by assessing the value per customer and improving profit margins 
  • Benchmarking against industry competitors to see where your business’s CAC stands compared to the banking industry average

  At the risk of stating the obvious, acquiring new customers isn’t always easy. That’s true for many highly competitive industries — especially the banking sector, which is currently witnessing the rapid rise of digital disruptors. 

  Case in point, the fintech market alone is currently valued at $312.98 billion and is expected to reach $556.70 billion by 2030, following a CAGR of 14%.

  

  However, strong competition is only one of the challenges banks face throughout the process of attracting potential customers. 

  Here are a few other things to keep in mind : 

  • Ethical business practices and strict compliance requirements when it comes to the privacy and security of customer data, including meeting data protection standards and ensuring regulatory compliance
  • Lack of personalisation throughout the customer journey, which today’s customers view as a lack of understanding of — and even interest in — their needs and preferences 
  • Limited mobile banking capabilities, which further points to a failure to innovate and adapt — one of the leading risks that financial services may face 

  7 strategies for reducing bank customer acquisition costs 

  

  When working on optimising your banking customer acquisition strategy, the key thing to keep in mind is that there are two sides to improving CAC : 

  On the one hand, you have efforts to decrease the costs associated with acquiring a new customer — and on the other, you have the importance of attracting high-value customers. 

  1. Eliminate friction points in the customer onboarding process

  One of the first things financial institutions should do is examine their existing digital onboarding process and look for friction points that might cause potential customers to drop off. After all, a streamlined onboarding process will minimise barriers to conversion, increasing the number of new customers acquired and improving overall customer satisfaction. 

  Keep in mind that, at the 30-day mark, finance mobile apps have an average user retention rate of 3% : 

  

  That says a lot about the importance of providing a frictionless onboarding experience as a retail bank or any other financial institution. 

  Granted, a single point of friction is rarely enough to cause customers to churn. It’s typically a combination of several factors — a lengthy sign-up process with complicated password requirements and time-consuming customer identification or poor customer service, for example — that occur during the key moments of the customer journey.

  In order to keep tabs on customer experiences across different touchpoints and spot potential barriers in their journey, you’ll need a reliable source of data. Matomo’s Funnels report can show you exactly where your website visitors are dropping off. 

  2. Get more personalised with your marketing efforts 

  Generic experiences are rarely the way to go — especially when you’re contending for the attention of prospective customers in such a competitive sector. 

  Besides, 62% of people who made an online purchase within the last six months have said that brands would lose their loyalty following a non-personalised experience. 

  What’s more shocking is that only a year earlier, that number stood at 45%.

  

  When it comes to improving marketing efficiency and sales strategies, 94% of marketers agree that personalisation is key : 

  

  It’s evident that personalised marketing supported by behavioural segmentation can significantly improve conversion rates — and, most importantly, reduce acquisition costs. 

  Of course, it’s virtually impossible to deliver targeted, personalised marketing messaging without creating audience segments and detailed buyer personas. Matomo’s Segmentation feature can help by allowing you to split website visitors into smaller groups and get much-needed insights for behavioural segmentation. 

  3. Build an omnichannel marketing strategy 

  Customer expectations, behaviours and preferences are constantly evolving, making it crucial for financial services to adapt their customer acquisition strategies accordingly. Meeting prospective customers on their preferred channels is a big part of that. 

  The issue is that modern banking customers tend to move across different channels. That’s one of the reasons why it’s becoming increasingly more difficult to deliver a unified experience throughout the entire customer journey and close the gap between digital and in-person customer interactions. 

  Omnichannel marketing gives you a way to keep up with customers’ ever-evolving expectations :

  Adopting this marketing strategy will allow you to meet customers where they are and deliver a seamless experience across a wide range of digital channels and touchpoints, leading to more exposure — and, ultimately, increasing the number of acquired customers.

  Matomo can support your omnichannel efforts by providing accurate, unsampled data needed for cross-channel analytics and marketing attribution. 

  4. Work on your social media presence 

  Social networks are among the most popular — and successful — digital marketing channels, with millions (even billions, depending on the platform) of active users. 

  In fact, 89% of marketers report using Facebook as their main platform for social media marketing, while another 80% use Instagram to reach their target audience and promote their business. 

  

  And according to The State of Social Media in Banking 2023 report, nine out of ten banks (89%) consider social media is important, while another 88% are active on their social media accounts. 

  That is to say, even traditionally conservative industries — like banking and finance — realise the crucial role of social media in promoting their services and engaging with customers on their preferred channels : 

  It’s an excellent way for businesses in the financial sector to gain exposure, drive traffic to their website and acquire new customers. 

  If you’re ready to improve social media visibility as part of your multichannel efforts, Matomo can help you track social media activity across 70 different platforms. 

  5. Shift the focus on customer loyalty and retention 

  Up until this point, the focus has mainly been on building new business relationships. However, one thing to keep in mind is that retaining existing customers is generally cheaper than investing in customer acquisition activities to attract new ones. 

  Of course, customer retention won’t directly impact your CAC. But what it can do is increase customer lifetime value, contributing to your company’s revenue and profits — which, in turn, can “balance out” your acquisition costs in the long run.

  That’s not to say that you should stop trying to bring in new clients ; far from it. 

  However, focusing on increasing customer loyalty — namely, delivering excellent customer service and building lasting business relationships — could motivate satisfied customers to become brand advocates. 

  As this survey of customer satisfaction for leading banks in the UK has shown, when clients are satisfied with a bank’s products and services, they’re more likely to recommend it. 

  

  Positive word-of-mouth recommendations can be a powerful way to drive customer acquisition. You can leverage that by launching a customer referral program and incentivising loyal customers to refer new ones to your business. 

  6. A/B test different elements to find ones that work 

  We’ve already underlined the importance of understanding your audience ; it’s the foundation for optimising the customer journey and delivering targeted marketing efforts that will attract more customers. 

  Another proven method that can be used to refine your customer acquisition strategy is A/B or split testing. 

  It involves testing different versions of specific elements of your marketing content — such as language, CTAs and visuals — to determine the most effective combinations that resonate with your target audience. 

  Besides your marketing campaigns, you can also split test different variants of your website or mobile app to see which version gets them to convert. 

  Matomo’s A/B Testing feature can be of huge help here : 

  

  7. Track other relevant customer acquisition metrics 

  To better assess your company’s profitability, you’ll have to go beyond CAC and factor in other critical metrics — namely, customer lifetime value (CLTV), churn rate and return on investment (ROI). 

  Here are the most important KPIs you should monitor in addition to CAC : 

  • Customer lifetime value (CLTV), which represents the revenue generated by a single customer throughout the duration of their relationship with your company and is another crucial indicator of customer profitability 
  • Churn rate — the rate at which your company loses clients within a given timeframe — can indicate how well you’re retaining customers 
  • Return on investment (ROI) — the revenue generated by new clients compared to the initial costs of acquiring them — can help you identify the most effective customer acquisition channels 

  These metrics work hand in hand. There needs to be a balance between the revenue the customer generates over their lifetime and the costs related to attracting them.

  Ideally, you should be aiming for lower CAC and customer churn and higher CLTV ; that’s usually a solid indicator of financial health and sustainable growth. 

  Lower bank customer acquisition costs with Matomo 

  Acquiring new customers will require a lot of time and resources, regardless of the industry you’re working in — but can be even more challenging in the financial sector, where you have to adapt to the ever-changing customer expectations and demands. 

  The strategies outlined above — combined with a thorough understanding of your customer’s behaviours and preferences — can help you lower the cost of bank customer acquisition.

  On that note, you can learn a lot about your customers through web analytics — and use those insights to support your customer acquisition process and ensure you’re delivering a seamless online banking experience. 

  If you need an alternative to Google Analytics that doesn’t rely on data sampling and ensures compliance with the strictest privacy regulations, all while being easy to use, choose Matomo — the go-to web analytics platform for more than 1 million websites around the globe. 

  CTA : Start your 21-day free trial today to see how Matomo’s all-in-one solution can help you understand and attract new customers — all while respecting their privacy. 

• ffmpeg how to add mkv to formats

  30 décembre 2015, par Mahmoud Saad

  hello after installing ffmpeg in my linux server with centos 6 after searching google i run ffmpeg -formats so i need to add mkv i know i will need to recompile ffmpeg but i do not know how to do it
  thank you

  File formats:
  
   D. = Demuxing supported
  
   .E = Muxing supported
  
   --
  
    E 3g2             3GP2 format
  
    E 3gp             3GP format
  
   D  4xm             4X Technologies format
  
   D  IFF             IFF format
  
   D  ISS             Funcom ISS format
  
   D  MTV             MTV format
  
   DE RoQ             raw id RoQ format
  
   D  aac             raw ADTS AAC
  
   DE ac3             raw AC-3
  
    E adts            ADTS AAC
  
   D  aea             MD STUDIO audio
  
   DE aiff            Audio IFF
  
   DE alaw            PCM A-law format
  
   DE alsa            ALSA audio output
  
   DE amr             3GPP AMR file format
  
   D  anm             Deluxe Paint Animation
  
   D  apc             CRYO APC format
  
   D  ape             Monkey's Audio
  
   DE asf             ASF format
  
    E asf_stream      ASF format
  
   DE ass             SSA/ASS format
  
   DE au              SUN AU format
  
   DE avi             AVI format
  
    E avm2            Flash 9 (AVM2) format
  
   D  avs             AVS format
  
   D  bethsoftvid     Bethesda Softworks VID format
  
   D  bfi             Brute Force & Ignorance
  
   D  bink            Bink
  
   D  c93             Interplay C93
  
   D  caf             Apple Core Audio Format
  
   D  cavsvideo       raw Chinese AVS video
  
   D  cdg             CD Graphics Format
  
    E crc             CRC testing format
  
   DE daud            D-Cinema audio format
  
   DE dirac           raw Dirac
  
   DE dnxhd           raw DNxHD (SMPTE VC-3)
  
   D  dsicin          Delphine Software International CIN format
  
   DE dts             raw DTS
  
   DE dv              DV video format
  
   D  dv1394          DV1394 A/V grab
  
    E dvd             MPEG-2 PS format (DVD VOB)
  
   D  dxa             DXA
  
   D  ea              Electronic Arts Multimedia Format
  
   D  ea_cdata        Electronic Arts cdata
  
   DE eac3            raw E-AC-3
  
   DE f32be           PCM 32 bit floating-point big-endian format
  
   DE f32le           PCM 32 bit floating-point little-endian format
  
   DE f64be           PCM 64 bit floating-point big-endian format
  
   DE f64le           PCM 64 bit floating-point little-endian format
  
   DE ffm             FFM (FFserver live feed) format
  
   D  film_cpk        Sega FILM/CPK format
  
   DE filmstrip       Adobe Filmstrip
  
   DE flac            raw FLAC
  
   D  flic            FLI/FLC/FLX animation format
  
   DE flv             FLV format
  
    E framecrc        framecrc testing format
  
    E gif             GIF Animation
  
   D  gsm             raw GSM
  
   DE gxf             GXF format
  
   DE h261            raw H.261
  
   DE h263            raw H.263
  
   DE h264            raw H.264 video format
  
   D  idcin           id Cinematic format
  
   DE image2          image2 sequence
  
   DE image2pipe      piped image2 sequence
  
   D  ingenient       raw Ingenient MJPEG
  
   D  ipmovie         Interplay MVE format
  
    E ipod            iPod H.264 MP4 format
  
   D  iv8             A format generated by IndigoVision 8000 video server
  
   D  libdc1394       dc1394 v.2 A/V grab
  
   D  lmlm4           lmlm4 raw format
  
   DE m4v             raw MPEG-4 video format
  
   DE matroska        Matroska file format
  
   DE mjpeg           raw MJPEG video
  
   DE mlp             raw MLP
  
   D  mm              American Laser Games MM format
  
   DE mmf             Yamaha SMAF
  
    E mov             MOV format
  
   D  mov,mp4,m4a,3gp,3g2,mj2 QuickTime/MPEG-4/Motion JPEG 2000 format
  
    E mp2             MPEG audio layer 2
  
   DE mp3             MPEG audio layer 3
  
    E mp4             MP4 format
  
   D  mpc             Musepack
  
   D  mpc8            Musepack SV8
  
   DE mpeg            MPEG-1 System format
  
    E mpeg1video      raw MPEG-1 video
  
    E mpeg2video      raw MPEG-2 video
  
   DE mpegts          MPEG-2 transport stream format
  
   D  mpegtsraw       MPEG-2 raw transport stream format
  
   D  mpegvideo       raw MPEG video
  
    E mpjpeg          MIME multipart JPEG format
  
   D  msnwctcp        MSN TCP Webcam stream
  
   DE mulaw           PCM mu-law format
  
   D  mvi             Motion Pixels MVI format
  
   DE mxf             Material eXchange Format
  
    E mxf_d10         Material eXchange Format, D-10 Mapping
  
   D  nc              NC camera feed format
  
   D  nsv             Nullsoft Streaming Video
  
    E null            raw null video format
  
   DE nut             NUT format
  
   D  nuv             NuppelVideo format
  
   DE ogg             Ogg
  
   D  oma             Sony OpenMG audio
  
   DE oss             Open Sound System playback
  
    E psp             PSP MP4 format
  
   D  psxstr          Sony Playstation STR format
  
   D  pva             TechnoTrend PVA file and stream format
  
   D  qcp             QCP format
  
   D  r3d             REDCODE R3D format
  
   DE rawvideo        raw video format
  
    E rcv             VC-1 test bitstream
  
   D  rl2             RL2 format
  
   DE rm              RealMedia format
  
   D  rpl             RPL/ARMovie format
  
    E rtp             RTP output format
  
   DE rtsp            RTSP output format
  
   DE s16be           PCM signed 16 bit big-endian format
  
   DE s16le           PCM signed 16 bit little-endian format
  
   DE s24be           PCM signed 24 bit big-endian format
  
   DE s24le           PCM signed 24 bit little-endian format
  
   DE s32be           PCM signed 32 bit big-endian format
  
   DE s32le           PCM signed 32 bit little-endian format
  
   DE s8              PCM signed 8 bit format
  
   D  sdp             SDP
  
   D  shn             raw Shorten
  
   D  siff            Beam Software SIFF
  
   D  smk             Smacker video
  
   D  sol             Sierra SOL format
  
   DE sox             SoX native format
  
    E spdif           IEC958 - S/PDIF (IEC-61937)
  
    E svcd            MPEG-2 PS format (VOB)
  
   DE swf             Flash format
  
   D  thp             THP
  
   D  tiertexseq      Tiertex Limited SEQ format
  
   D  tmv             8088flex TMV
  
   DE truehd          raw TrueHD
  
   D  tta             True Audio
  
   D  txd             Renderware TeXture Dictionary
  
   DE u16be           PCM unsigned 16 bit big-endian format
  
   DE u16le           PCM unsigned 16 bit little-endian format
  
   DE u24be           PCM unsigned 24 bit big-endian format
  
   DE u24le           PCM unsigned 24 bit little-endian format
  
   DE u32be           PCM unsigned 32 bit big-endian format
  
   DE u32le           PCM unsigned 32 bit little-endian format
  
   DE u8              PCM unsigned 8 bit format
  
   D  vc1             raw VC-1
  
   D  vc1test         VC-1 test bitstream format
  
    E vcd             MPEG-1 System format (VCD)
  
   D  video4linux     Video4Linux device grab
  
   D  video4linux2    Video4Linux2 device grab
  
   D  vmd             Sierra VMD format
  
    E vob             MPEG-2 PS format (VOB)
  
   DE voc             Creative Voice file format
  
   D  vqf             Nippon Telegraph and Telephone Corporation (NTT) TwinVQ
  
   D  w64             Sony Wave64 format
  
   DE wav             WAV format
  
   D  wc3movie        Wing Commander III movie format
  
    E webm            WebM file format
  
   D  wsaud           Westwood Studios audio format
  
   D  wsvqa           Westwood Studios VQA format
  
   D  wv              WavPack
  
   D  x11grab         X11grab
  
   D  xa              Maxis XA File Format
  
   D  yop             Psygnosis YOP Format
  
   DE yuv4mpegpipe    YUV4MPEG pipe format

• Anomalie #2025 (Nouveau) : Surlignage intempestif

  8 avril 2011, par r o m y

  Le surlignage des résultats de recherche tel qu’actuellement géré par SPIP, pose plusieurs soucis, dont des surlignements, souvent plus surprenants qu’utiles, lorsqu’on arrive sur un site après une requête en moteur de recherche Google.

  le surlignage devrait être inactif par défaut (poser la class (...)