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360-Degree Small Business Customer Profiles: Around the World of Entrepreneurs

Published by: TowerGroup

Published: Nov. 26, 2007 - 7 Pages


Table of Contents


Report Coverage

Background

Exhibit 1 Expanding Scope of Customer Profiles: An Integrated View of Customer Data (2007)

Multiple Definitions for Small Business Customer

Exhibit 2 Sample Profiles of a Small Business Customer (2007)

Multiple Linkages Within Profiles of Small Business Customers

Small Business Householding

Technology Limitations

Breaking out of Silos

Summary

Abstract

Small business banking is a relationship-based business. Small business owners value trusted advisors to help them grow and improve their business. In order for small business bankers to become trusted advisors, they need specialized resources, training, products, and services. One of the critical resources is a comprehensive, 360-degree view of the small business customer. This TowerGroup Research Note discusses the challenges banks face when building a comprehensive small business customer profile. Banks that can overcome the challenges and create integrated, comprehensive views of their small business customers will gain customer loyalty and increased share of wallet.

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