Digital banking is ubiquitous, and more consumers are turning to mobile banking platforms. But using smartphones, tablets and computers to bank doesn’t preclude a banking client from wanting an excellent customer service experience.
According to Resonate, Digital Friendly Bankers (those people who use an online-only bank across all age brackets) are twice as likely to say they want banks to “know them.” They are 95 percent more likely to indicate they wish to be valued as a customer. And, as for good, old-fashioned, live customer service? Digital Friendly Bankers are 54 percent more likely to cite it as essential when they choose a bank.
Why does this matter? We already know that digital bankers are a critical consumer segment, as evidenced in our white
paper, “ Winning on the Why in Financial Services. However, many financial marketers still focus efforts on lifestage marketing, and targeting – what they perceive as – the holy grail of “Millennials.” While lifestage marketing has its role, it is, by itself, not the most effective way to grow business. As our data states, the majority (63%) of currently-banked consumers using online-only banks are NOT Millennials.
Resonate data also shows that customer service isn’t as important to Millennials as it is to Digital Friendly Bankers.Excellent customer service can take many forms for the Digital Friendly Banker. Live chats, and short call wait times are two obvious ones. But what does customer service look like in the digital world? Whether you’re a financial manager who needs to tell clients quickly about a market change, or a call center manager who is ensuring customers receive their needed answers and information, here are some things to remember:
- The smartphone is a personal device for millions of adults, and text messaging can further your customer relationship if the customer wishes to receive it, and the content adds valuable information to their day.
- Digital platforms are 24/7, so your customer service should be as well.
- Email is a great tool for communicating, especially if you need to share more complex and/or urgent information.
- Digital platforms enable financial virtual assistants, or “concierge”-type services that can assist customers during transactions.
- Social media and review sites place customer experiences with your brand out in the public arena. Be responsive. Use review data to enhance your customer experience, and reward employees who receive customer accolades.
Above all, no matter what the medium, make sure you have people fueling your customer service work and evaluating the digital customer experience. Provide access to your reps when your customers need them.
Here are more questions to consider when targeting your marketing to the Digital Friendly Banker consumer group:
- They favor green lifestyles, as show in our “Winning on the Why in Financial Services” Study. How can green messaging drive creative and messaging strategy?
- What types of services are Digital Friendly Bankers most likely to use at a bank? How can you evolve (and/or upsell) these services to suit their digital, customer-friendly needs?
- Why do Digital Friendly Bankers choose their banking brands, beyond customer service? Is it because of location, types of services offered, recommendations, or something else?
Learn more by contacting us, and downloading our Financial Services Industry Whitepaper, “Winning on the ‘Why’.”