Customers want face-to-face help with vexing problems and to be left alone to tackle simple tasks. But oddly, some banks can’t tell the difference.
As millions of Americans try to recover from the recent financial crisis, banks can help by partnering with non-profit groups such as the National Foundation for Credit Counseling.
Social media is evolving as a channel where bank marketers can learn more about their customers than from traditional methods of gauging customer sentiment.
To improve customer relationships, bankers need to move ‘experiential relationships’ to the next level by addressing emotional as well as financial needs.
Branding expert Jonathan Salem Baskin says bank marketing needs to focus more on improving customer interactions than building brand image.
Bank marketers possess enormous amounts of data but need disciplined analysis to extract actionable customer insights.
An effective branding program requires a disciplined process of deciding on the appropriate components of your brand value and following through.
Retail bankers must start coming to grips with social media as an emerging marketplace. Defensive PR is one thing, but the larger goal is proactively building online rapport.