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 & Payments
- Digital Banking
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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.
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