Did you know that half of all Americans use more than one bank?
It’s true. A GoBankingRates survey found that 50 percent of Americans have an account at just one bank, while the other half have accounts at multiple banks. The top three reasons provided for actively using accounts at more than one bank or credit union were: convenience, product offerings, and lower fees.
So, in this highly competitive landscape, how do you keep them interested?
For one thing, banks and credit unions can keep up with consumer demands when it comes to digital banking offerings. The Financial Brand shared that 46% of consumers use onlydigital channels for their banking, and their expectations are outpace experiences at most organizations.
So, how can you position your digital strategies to keep them coming back?
- Connection The trend towards digital does not mean that connection and trust are no longer important. In fact, the opposite is true. In place of face-to-face conversations, digital strategies should provide multiple touch-points that lead to ongoing relationships. Websites, mobile apps, digital ads, and digital communication should all be accurate, succinct, and user-centric. These elements establish an individual’s connection to an organization and leaves them wanting more.
- Anticipation Put yourself in the customer’s shoes and make sure you are bringing something of value to the table. Digital channels should all be consistent and easy to use to provide a good user experience that enhances customer satisfaction. Account management, customer service chat, online applications, online information of products and services, location and contact information on the website, and more must all be up-to-date and easily accessible to the consumer. Anticipate their needs and be ready to inform, engage, and advise at a click.
- Personalization Technology has driven more detailed data collection for robust customer profiles that allow advanced data-driven analysis. This makes it possible for digital communications to become intensely personalized to the consumer. Beyond just using a customer’s first name, technology such as DeepTarget’s intelligent platform allows personalized content tailored to an individual’s unique needs to create exclusive customer journeys. Selligent shares these convincing stats: “Today’s consumers expect companies to know their preferences on a very intimate level, especially when they have explicitly provided their data. In fact, 74% of global consumers expect brands to treat them as an individual.”
From accessing their accounts to applying for a mortgage, more than half of all banking customers use mobile devices for financial services. Banks and credit unions must prioritize mobile strategies. Well-executed digital marketing strategies such as these can enhance your bank or credit union’s relevance and give a competitive edge that keeps your consumers wanting more.
If you are ready to experience all that DeepTarget has to offer, contact us at success@deeptarget.com.
