Neobanking is an industry with tons of competition and low switching costs.
Which means customer acquisition costs are high.
High customer acquisition costs are OK if those customers are sticky.
To get a customer to stick, Neobanks need to:
- be laser-focused on who their products are marketed to
- identify partnerships that provide services outside of banking
- bundle products in a way that is exciting and relevant to customers
Which means customer acquisition costs are high.
High customer acquisition costs are OK if those customers are sticky.
To get a customer to stick, Neobanks need to:
- be laser-focused on who their products are marketed to - identify partnerships that provide services outside of banking - bundle products in a way that is exciting and relevant to customers