Commercial strategies to avoid customer churn at BBVA bank

The "leakage" is a term used in banking institutions to determine when a customer is likely to withdraw their products or ultimately has withdrawn their services from the financial institution. There are studies that show that 1 in 5 people are likely to withdraw their services, which causes economic losses for the entity, because it is more expensive to get new customers than to retain those customers who are already linked to the financial institution. The BBVA bank in the Ocaña branch is no stranger to this situation, which is why it is so important to create strategies that allow us to follow up with customers according to their specific needs. With this we contribute to customer loyalty, going from mono-products to poly-products. In addition, we mitigate customer leakage by publicizing the benefits of savings (CDT, investment funds, my project accounts, etc.), credit (savings, consumption, credit cards, revolving quota, mortgage, etc.) and virtual portals (BBVA Móvil, BBVA Wallet and BBVA Net) that customers can acquire by direct deposit of their payroll with the bank.