Return to text 2 See Randal K. Quarles (2018), “An Assessment of the U.S. Economy,” speech delivered at “Promoting  Sustained Growth: Policy Tensions and Risks,” 34th Annual NABE Economic Policy Conference, Washington, February 26. Return to text 3 4/5  BIS central bankers' speeches  3 See Ernie Tedeschi (2018), “Will Employment Keep Growing?
The steps to be followed in making a new distribution channel successful: a)  Understand customers’ current channel/transaction behaviour and their underlying attitude;  b)  Use sophisticated experimental customer research to assess the economic impact of tactics designed to change that behaviour;  c)  Develop an integrated channel migration plan which blends economic and non-economic incentives to ensure that right initiatives are targeted at the right customers;  d)  Protect sales effectiveness by utilizing the ability of non-branch channels to select amongst prospects and differentiate the marketing message;  e)  Design non-branch channels to emphasize personalized interaction to counteract decreased loyalty among remote customers;  f)  Develop tracking mechanisms to allow you to assess and revise your migration strategy on an ongoing basis.