STAGE
Strategic and Tactical Importance:
The STAGE framework allows you to interact with customers or members at pivotal points in their relationship with your organization, from onboarding to long-term loyalty. By segmenting customer or member engagement into lifecycle stages (e.g., the first 90 days, 90-180 days, and beyond), you can tailor communications and offers to meet their evolving needs. This approach is particularly effective in reducing early churn and building strong foundations for customer or member loyalty.
Example:
During the initial stage, a new customer or member might benefit from on-boarding support, whereas a long-term customer or member could be introduced to exclusive offers or loyalty rewards. The STAGE framework helps you strategically manage customer or member relationships, optimizing engagement and retention across their lifecycle.
FRAME
Strategic and Tactical Importance:
FRAME enables a deep understanding of your customer or member demographics and psychographics, including age, lifestyle, financial behavior, and product preferences. This analysis helps refine your targeting efforts, ensuring that each customer or member segment receives communications and offers relevant to their unique needs. Strategically, FRAME supports product positioning and messaging that aligns with customer or member preferences, while tactically, it guides personalized marketing campaigns.
Example:
Younger customers or members might respond well to mobile app promotions, while older demographics may be more interested in in-person services. FRAME ensures that your outreach is both precise and effective, maximizing engagement and relevance across customer or member segments.
ACT
Strategic and Tactical Importance:
ACT provides a comprehensive action plan for strategic growth, consolidating KPIs and actionable insights across customer or member segmentation, product performance, profitability, and market potential. Strategically, ACT offers a big-picture perspective that helps align your institution's efforts with broader business goals, while tactically, it translates insights into specific actions.
Example:
If certain products are highly profitable with a particular segment, ACT might recommend expanding marketing efforts to similar customer or member profiles. By providing context, benchmarks, and a roadmap for improvement, ACT ensures that every decision contributes meaningfully to your institution’s growth and success.
CHURN
Strategic and Tactical Importance:
Understanding why customers or members leave is critical to sustaining growth and profitability. The CHURN framework identifies the factors that contribute to customer or member attrition, such as service issues or single-service accounts, allowing you to proactively address these risks. Strategically, churn analysis informs retention efforts by highlighting high-risk demographics or product areas that need attention. Tactically, it guides specific actions, such as offering personalized incentives or targeted support to at-risk customers or members.
Example:
If single-service users are more likely to leave, you can initiate cross-sell campaigns to deepen their relationship with your brand. By addressing churn drivers directly, your organization can reduce turnover and maintain a strong, loyal customer or member base.
STICK
Strategic and Tactical Importance:
STICK focuses on enhancing product adoption and customer or member engagement over time. By understanding product mix, activity levels, and household potential at different tenure stages, you can identify opportunities to cross-sell additional products to current customers or members. Strategically, STICK helps increase customer or member lifetime value by deepening their relationship with your brand. Tactically, it guides specific cross-sell campaigns or personalized offers based on the customer's or member’s current product usage.
Example:
A customer or member actively using their checking account may be introduced to a complementary savings or investment product. STICK strengthens your relationships by aligning product offerings with each customer’s or member’s evolving financial needs.
MAP
Strategic and Tactical Importance:
The MAP framework helps you assess and optimize your market presence by analyzing demographic, psychographic, and financial behavior data within specific geographic areas. Strategically, MAP supports decisions about where to expand, relocate, or enhance branch services. Tactically, it guides location-specific marketing campaigns that reflect the unique characteristics of each market area.
Example:
If an area shows a high concentration of young professionals, marketing could focus on digital financial tools and mobile services. By aligning branch and product offerings with local demand, MAP enhances your market penetration and positions your organization to capture growth opportunities effectively.