Offering a seamless customer experience across channels is becoming more important in the retail banking industry. As mobile technology and digital connectivity have expanded in both reach and capability, consumers have become accustomed to accessing key services and information at any time, in any location, via their preferred channel.
As a result, many banks are placing an emphasis on omni-channel service delivery – providing a seamless, unified customer experience across all channels, from the ATM to mobile and beyond.
This principle is equally integral to marketing communications. By taking a holistic approach that provides consistent messaging to consumers across physical and digital channels, your business can maximize its chances of attracting new customers and retaining your existing ones.
Attract new business through targeted marketing
How can targeted, relevant marketing that seamlessly spans your physical and digital channels help you to attract new business?
Firstly, it can strengthen your relationship with your existing customers. Take the example of a bespoke experience at the ATM. Being able to greet individual customers by name and list their ‘favorite’ or most common transactions adds a new element of engagement and personalization to the self-service banking experience. It can also boost convenience by helping customers to complete their transaction as quickly as possible.
Offering existing customers this level of relevance and efficiency will strengthen their loyalty to your brand and increase the chance of them returning to you for new products in the future.
What’s more, omni-channel capability can open up many new opportunities for following up sales leads and cross-selling. It becomes possible, for instance, for an individual to register their interest in a product at the ATM and follow this up online. Links to your customer relationship data can also help you to make relevant product recommendations based on past preferences and product history.
When it comes to attracting brand new business, having the right marketing tools in place within the ATM channel can enable your business to deliver marketing messages to customers of other banks, using the unique identification numbers on their cards. As a result, the ATM can be one of the most powerful and direct channels to engage with people who aren’t currently your customers.
A key driver of customer experience
For many banks today, the manner in which marketing is designed and delivered is inextricably linked to customer experience.
A report released by Gartner in January 2016 noted that 89 percent of marketers now compete primarily on the basis of customer experience. The research firm said the overall quality of experience a business is able to offer is formed of “discrete moments that, together, strengthen or weaken a customer’s preference, loyalty and advocacy”.
In an earlier survey, Gartner found that significant changes are underway in the customer experience field, with many businesses looking for fresh ways to boost satisfaction and strengthen engagement with consumers.
Nick Inglebrecht, research director at Gartner, said: “Customer experience improvements are complex undertakings. There is no silver bullet that will, by itself, improve the overall experience. But the combination of projects, if implemented well, can cumulatively contribute to the improvement of an organization’s customer experiences.”
It’s clear that, like many components of the retail banking industry, customer experience is an area where providers must continue innovating and evolving the way they do things to stay ahead of the competition.
On the customer experience front, adopting the necessary tools and technologies to create a targeted, coherent omni-channel marketing proposition could be the key to setting your brand apart.