Financial services firms are lucky in that they tend to engender a good amount of inherent consumer trust. Despite talk over the past decade about customer’s willingness to bank with tech firms and the like, most say they still trust financial institutions when it comes to holding their money.
Still, that doesn’t mean financial institutions can rest on their laurels – more people, specially younger generations, are willing to look to tech-forward newer alternatives. That means financial marketers must continue to effectively communicate why customers and potential customers should continue to trust them.
It starts with reliability and serving existing customers well, according to this article in CMSWire.
“From a marketing and relationship perspective, the least expensive and most impactful CX efforts are those that involve doing more business with existing customers,” the article notes. “So digital channels at minimum must be more than adequate, and updated with new features and functions that provide customers with the same reliability as if he or she were doing business face-to-face.”
It’s also crucial to make sure that customers know about the wide range of digital options available to them. Financial marketers should promote things their institution offers such as video-conferencing, digital chats, mobile remote deposit capture and digital account opening capabilities.
“Consumers want to keep their money with financial services firms they trust, and the more they trust the firm, the deeper (more deposits/larger loans) and wider (more products) the consumer will commit to the provider,” the piece notes