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SUMMARY
Customer Metric Survey: A Quantitative Analysis of Effective CustomerStrategiesOverview: During the last half of 2003, Financial Insights completed one ofthe most extensive industry surveys to understand how different institutionseffectively use customer metrics. The survey included 51 senior line-of-businessexecutives at banks, securities firms, and insurance companies. Our focus was todetermine the connection between business performance measurement, the use ofcustomer metrics, and how the latter are being used to create better businessresults. Deloitte, Inc. sponsored this research as part of its commitment tohelp retail financial institutions use customer metrics more effectively. In this report, we examine the relationship between an institution's primaryretail strategy and its effective use of customer metrics. In addition to ananalysis of survey responses, we overlaid the actual five-year return on assetsfor respondents and compared these returns to different strategies to see whichwere more effective and why. Companion reports discuss the very specific usesof, and planned enhancements to, customer metrics in banking and in otherfinancial services markets. "We found innovative companies to be by far the most profitable, andthey tend to be more customer centric than those companies that actually saidthey were customer centric as a core strategy," points out Jim Beams, aresearch director at Financial Insights. "In fact, innovative companieshave a high level of sponsorship for customer metrics, the highest rating ofeffectiveness for using metrics, the highest level of management support forcontinued improvements, and the fewest and smallest perceived obstacles forimprovement." TABLE OF CONTENTS
Financial Insights Opinion ..........ii Situation Overview.......................1 - Market Overview ........................1
- Market Strategies .......................2
Market Players..............................2 - Comparing the Vendors .............3
- Definitions of Comparison Criteria.........................................................................................................................3
- Authorize.Net .............................5
- ClearCommerce.........................6
- CyberSource ..............................6
- Retail Decisions .........................7
- VeriSign .....................................8
- Competitive Landscape .............8
Future Outlook .............................9 Essential Guidance....................10 Learn More..................................10 - Related Research ....................10
- Appendix: Vendor Profiles........11
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