How Can You Create the Ultimate Emotional Connection with Your Customer?
Customer is king – that fact has been a constant regardless of your business. But treating customers like royalty has taken on even bigger meaning for the banking industry in recent years. Consumers typically choose their financial institutions based on which one has the best interest rate, most convenient location or the most robust technology so they can bank anywhere at any time. Control is completely in the consumers’ hands, and loyalty is virtually nonexistent.
Successful institutions, however, are those that create deep, meaningful connections with their customers – where engagement levels are high – which leads to increased loyalty. So how can a financial institution become a customer-focused bank by creating emotional connections with their customers? I believe there are three crucial steps they can take to achieve this:
1. Anticipate the customer’s needs. The fact is, people are much more informed than ever before, and they are more savvy about their financial needs. Your challenge is in finding the path to engage with customers to better understand not only what they need today, but what they will need in the future. In essence, to help them discover or anticipate needs they didn’t even know they had.
2. Personalize customer relations. Banking today is no longer all about the transaction; it’s about having meaningful conversations so you can provide added value, and help to solve the challenges of your customers. Your solutions must distinctly solve their needs, and at the core of this is your people making personal connections with your customers.
3. Deliver superior service. Providing an excellent experience gives customers another reason to come back to you and spread the word about what you have to offer. When you have loyal customers, growth follows.
Bankers must cultivate true engagement with their customers, but they must view this as an investment, rather than an expense. Financial institutions can drive growth by teaching their people how to have meaningful conversations and create emotional connections with their customers.
To learn more about how bankers can improve their retail success, view our webinar “How to Connect with Retail Banking Customers on a Deeper Level”. Watch here.