“All things digital” is all bankers and customers have heard since the onset of covid back in January of 2020. Banks listened and reacted just as they should have. But now what? With all things digital done and implemented, why are customers not responding anymore to the amazing investments banks have made over the last two years such as, online account opening systems, chat bots, loan origination systems, marketing automation systems, CRMs and so on…..Now What?
As I was reading this Financial Brand article, 5 Pivotal Trends in Banking for 2022, it hit me, there is no better time than now to ignite Guided Conversations in financial services, leading customers and member to wise and targeted financial solutions and services. The article states the fact that all things digital have plateaued and that now it is time to intelligently help consumers who no longer merely want to conduct transactions digitally but are looking for proactive advice and ongoing financial planning. Automation will be a key to achieving this.
Simply being on digital channels is no longer a differentiator for banks and credit unions — they need to use digital to create a stickier customer experience.
Accenture notes that 49% of bank customers say receiving instant support is a factor in building brand loyalty. But moreover, analyzing customer data to identify the most relevant offer should be top priority to differentiate.
AI’s Helping Hand: Artificial intelligence and machine learning should be used to drive more targeted, personalized advertising and marketing messaging.
Digital conversations guides help ease this process by creating interactive online experiences – and making the information collected online available to in-branch and remote bankers. Using digital conversations in branches and online to guide customers to the right solutions in an interactive and personal manner brings higher loyalty and sales growth for the FI.
Consumers no longer merely want to conduct transactions digitally but are looking for proactive advice.
Customers expect deeper, more meaningful engagement beyond a mobile app, website or chatbot. Financial institutions need to deliver exceptional omnichannel experiences, increasing efficiencies across all channels that will accelerate growth for the FI. Increasing the effectiveness and efficiencies of sales channels, conversation and accuracy of recommendations will help FI’s gain $1 million in value per billion in assets as well as loyalty. Innovative customer engagement backed by actionable insights is what’s next in the digital transformation age.
Accenture notes that 49% of bank customers say receiving instant support is a factor in building brand loyalty. But moreover, analyzing customer data to identify the most relevant offer should be top priority to differentiate.
See how it could work for your Financial Institution, schedule a virtual demo.
