In today’s digital-first economy, customer reviews can make or break a businesses. A web search for a company that turns up numerous 1 and 2-star reviews can drive customers away in droves.
This is in especially critical in financial services, where reputation is of vital importance. That’s why it is critically important for financial marketers to monitor and respond to consumer reviews, according to this article in American Banker.
“Lincoln Parks, marketing director at Heritage Bank in Jonesboro, Ga., tracks reviews for his seven branch institution using marketing software from BrightLocal and says he responds to each one. Keeping Heritage’s online image sharp has been especially important during the pandemic,” the article states
The piece also notes another institutions, Dime Community Bancshares in Brooklyn, which has a formalized process in place for managing its online reviews.
“Members of the marketing team share positive and negative reviews with Dime’s retail banking team and senior management, so they can ensure retail staff members have proper training. The team also has a rule to respond to all feedback within 24 hours. Like Heritage, Dime employees will guide negative communications to more private channels.”
Online reputation is perhaps the most important factor in any company’s success; it’s clear that for financial marketing pros, effectively managing this is is a critical aspect of the overall customer experience.