Facebook, Twitter, Instagram, Snapchat and other social media channels play a tremendous role in the everyday lives of many businesses–including banks and other financial institutions. These platforms make it easy to announce company news, provide Read More
Most people would sooner talk about politics, religion and romance than start a conversation on income levels or credit scores. Perhaps that even describes the person sitting in the cubicle next Read More
Relationship management has changed. To succeed in today’s highly digitized world, relationship managers (that is, your sales staff) must cultivate the art of high-touch selling. This means that your people make meaningful human connections that focus Read More
Customer engagement is a two-way street. It’s easy for financial institutions to talk about what they want from their side of the relationship—loyalty, bigger wallet share, primary financial status. But it’s harder to execute a strategy Read More
“Know your customer” (KYC), while a critical regulatory requirement, can quickly get gummy and frustrating when data is scattered across multiple systems. Financial institutions collect massive amounts of customer data—where people live, what they drive, Read More
Can marketing’s creative, spontaneous spirit productively partner with IT’s more structured, security-obsessed culture?
It has to.
The most brilliant big ideas produced by the marketing team will go nowhere fast if the technology needed to execute is not Read More
Let’s say your bank or credit union wants to raise its customer experience game. What step would you take first? Balloons in the branch lobby? A cute email on the customer’s birthday? Or how about Read More
Here’s how I think about successful customer relationships these days: Entanglement does not equal engagement.
The way we do business now, in trying to become our customers’ primary financial institution, we entangle them: We get Read More
Despite a newfound fascination with customer engagement, banks know it’s a constantly moving target that doesn’t reward indecision or momentary distractions. It takes strong resolve and concentration to stay on top Read More
Financial services professionals traditionally see their marketing efforts through the lens of the “sales funnel” or “marketing funnel”; it’s been that way for decades. But working within that model could actually cause you to miss Read More
It’s been almost 250 years since Adam Smith penned “The Wealth of Nations,” helping set off an industrial revolution now in its fourth iteration. What would Smith think of today’s “Exponential Age,” defined by its Read More
While social media has become an important marketing channel in the financial services industry, many banks maintain a presence simply for the sake of it. And those platforms—whether on Facebook, Instagram, Twitter or Snapchat—are just too Read More
In financial services, the customer loyalty battle has evolved to where rewards programs must offer more than points—for after all, traditional one-size-fits-all points programs succumb to attrition and inactivity after a few moments of intrigue. Read More
Like an overwhelming number of banks, Wells Fargo wants to treat its customers individually. It wants to know what products and services they want based on their life and financial situations. And Read More
It’s no secret that happier customers are our most loyal, dependable customers. And in today’s disruptive environment, where customers can choose to bank with anyone instead of the neighborhood branch, it’s more important than ever to Read More
As anyone in financial services knows, an influx of new players has flooded the consumer lending marketplace. Some have staying power. Some don’t. But all take full advantage of advances in digital technologies to meet Read More
Refinance your home! Buy a car for a low fixed rate! When they interact with consumers, some banks seem to prefer a one-size-fits-all communications model with a heavy emphasis on product pitch. We get it: Email Read More
Velcro, Kleenex and Jell-O: Many brands have become so much a part of people’s lives that they are now used as universal references for all products in that category—or sometimes verbs, as is the case with Read More
Faster than you can say “analytics,” bank marketers have gone gaga for data: Data this, data that, data as the new (choose one) oil, electricity, rocket fuel. Data as the new data.
And next to Read More
Baby boomers hold the keys to the American Dream. No generation in history has done as well financially as those born between 1946 and 1964. They hold two-thirds of all deposits Read More