Optimization of sales channel preferences

This book is dedicated to the optimization of customer channel preferences for private customers of a regional bank. Until now, channel management has been based on the company's own strategies regarding which channels are used for communication, not which preferences customers have when choosing a digital channel. Online channels have received a considerable boost, especially with the onset of the COVID-19 pandemic. Before purchasing a financial product, customers look for information online before taking out the product - often offline with an advisor. The "pre-purchase information" phase can take place via many different digital sales or media channels, which often results in customers being overwhelmed by the number of information options. How can customer groups be assigned to the different digital sales channels of a regional bank based on various characteristics? In addition, hypotheses are tested that can provide conclusions as to which criteria customers use to select sales channels for each product.