- January 22, 2015
- Posted by: admin
- Category: Blog
Banks have served the public for a long time, but putting the money on the table today has become more complex than ever was conceived. Banks need to set the strategy according to the customers today and have the strategy ready for tomorrow as well – yes, because that’s how fast the customer demands and needs are changing.
It is mandatory to consider giving appropriate weight to customer metrics in the key areas of reputation, performance – commercial, service and sales – and the capabilities required to support them. Banks need to keep all the tools in order to prevent the customer trust and satisfaction from withering.
Today’s banks need to adopt to have the aforementioned features:
− Optimized branch network and contact center (Accessible, alert and amiable!)
− Enhanced digital channels (Viva Mobile!)
− Need-based offerings (real-time analytics) and consistent sales behaviors
− Basic multichannel integration (Go omnipresent!)
Figure 1. Maximize customer interaction to multiply conversion rates
Banks need to act in the near term and stay competitive for the near and long-term and show high performance in all the required areas. Also, banks need to strive to master all capabilities required to provide that extra-mile experience each time. Consistency is the key.
Figure 2. Foster loyalty and increase sales through customer relationships
With the right strategy and level of commitment, banks can put their money on doubling the growth rate. Only the banks that catch hold of the new business models and ideate a holistic experience for the customers will continue to have account holders. The disruptions on the horizon are sure to drown those that haven’t planned for the emerging banking landscape!
Care to be equipped with the latest in the banking business models and customer experience? Talk to us and we’ll help you thrive through the years to come and beyond!