Baker-Boyd Announces Update on Customer Win-Back Campaign
Baker-Boyd SECURITIES Corporation announced an aggressive customer win-back campaign, one component of its comprehensive turnaround plan
November 19, 2012 (Newswire.com) - Baker Boyd Associates Corporation announced an aggressive customer win-back campaign, one component of its comprehensive turnaround plan. The turnaround plan has been developed in conjunction with a thorough evaluation of the Company's core business strategy, which included an assessment of its organizational structure, operating expense base and balance sheet transition. The customer win-back campaign, which began earlier this month, incorporates targeted engagement incentives and outreach initiatives to current and prospective customers alike.
Since the announcement of the cash infusion, customer cash trends have shown significant improvement. As of this week, retail customer cash and deposit balances totaled approximately $33 billion, a number consistent with levels disclosed at the time of the announcement.
The Company also announced today that it will report both fourth quarter and year-end financial results after the close of the financial markets. In addition to financial results, the Company will present its turnaround plan and outlook for financial results.
The plan strategy contains:
Realize potential sales/profits by rebuilding customer relationships
• Minimize new customer acquisition costs
• Reduce negative word-of-mouth
• Better understand the customer process for relationship termination so that appropriate intervention and recovery steps can be taken
• Develop a profile for lost customers that can help detect 'at risk' customers
• Build customer recovery into the customer-focused culture
Baker-Boyd offer a variety of professional financial management services to both companies and individuals. The services are personalized for each customer's needs and diverse enough to be suited to a wide range of financial profiles and goals. The services are 100% transparent and do not offer biased advice.