Deepening Banking Relationships With Valuable Small Business Customers
- Date:March 21, 2018
- Author(s):
- Ian Benton
- Jacob Jegher
- Report Details: 17 pages, 6 graphics
- Research Topic(s):
- Small Business
- Digital Banking
- PAID CONTENT
Overview
- How many banking relationships do small businesses have?
- What does it mean to a “primary” FI?
- Which products tend to be sought at “secondary” FIs?
- What should the role of the relationship manager be in deepening small business banking relationships among the highest-value clients?
- What digital tools can banks offer to encourage greater engagement and relationship depth?
Methodology
The small business data in this report are based on information collected in a random-sample panel of 1,000 small businesses and microbusinesses in a March 2017 online survey. Javelin defines microbusinesses as those with annual revenue between $100,000 and $1 million and small businesses as those with revenue between $1 million and $10 million.
The consumer data in this report are based on information collected in a random-sample panel of 10,585 consumers in a May 2017 online survey.
Interested In This Report
Related content
Are Small Businesses Ready for Instant Payments? It's Complicated.
FedNow’s recent launch is a landmark development in the push toward a ubiquitous and affordable instant payments regime in the United States. For small businesses, instant payments...
The Dual Role of Digital in Retaining Small-Business Deposits
Small-business deposits are in flux at traditional FIs, with a quarter of those businesses moving deposits to other institutions in the past year. Often, the move is to another ban...
Business Financial Health: A Foundation for Upgrading Digital Banking
Maintaining business financial health is a challenge. Most entrepreneurs are not financial professionals, nor are they fluent in the language of banking, payments, and financial an...
Make informed decisions in a digital financial world