This lesson explores the principles of Relationship Management and the stages of the customer lifecycle.

6.1 Managing the Full Customer Lifecycle
The customer lifecycle describes a customer’s journey with the bank: Acquisition, Onboarding, Engagement, Retention, and Win-Back . Effective onboarding sets the stage for a profitable, long-term relationship.

6.2 The Role of Key Account Management
Key Account Management (KAM) involves assigning a dedicated Relationship Manager to high-value clients to proactively manage their needs . The goal is to deepen the relationship through proactive service and maximize the “share of wallet” .

6.3 Service and Sales Integration
A strong relationship between the bank and customer requires that service and sales functions work seamlessly together . By understanding what customers expect from their bankers, the bank can build trust and provide a customer-centric experience .