Banks must put more effort into creating engaging digital experiences if they want to attain a level of demand that spurs growth and increases consumer engagement. Learn how your financial institution can improve customer engagement and gain a competitive edge.
Use omnichannel customer communication strategies
Customers nowadays don’t use just one channel or one device to access online banking. They typically switch between computer and mobile screens in the process of mobile banking. Banks can improve customer engagement and coordinate communication via numerous chat applications and contemporary channels like WhatsApp, Email, SMS, and mobile messaging apps with the use of an omnichannel customer engagement hub. The secret is to determine what best meets your clients’ demands, maintain their interest at various touchpoints, and maximises dialogue through various channels.
Offer Personalised Loan Offers That Are Relevant
Customers are increasingly drawn to banks and financial organisations that treat them as unique individuals throughout their journey since they are accustomed to getting what they want when they want it. By connecting with your customers with the correct messaging at the right time and across the right channels, retaining and acquiring customers becomes much easier.
Let’s dissect that a little: a consumer in their late 20s or early 30s might jump at a financing offer delivered over WhatsApp, however, this is unlikely to be the case for someone entering retirement that is looking to engage over traditional formal channels such as email. It is crucial to make offers that are pertinent to customers based on their profiles, behaviours, and demographics.
With Infobip’s Moments, you may reconsider your customer segmentation and use a behavior-based strategy to individually design each customer’s journey via customised communications and through their preferred channels. Moments allows you to send messages based on certain preferences and through customised campaigns like:
- Notifying clients when their insurance is due for renewal
- Letting them know about urgent alerts will increase trust.
- Presenting customised credit and loan offers
- Providing updates on balances and transactions
- Sending timely invoice reminders
Create behavioural triggers by analysing customer insights.
Nothing other than collecting data can help you obtain greater insights into your customers’ wants and intentions, which is a must for personalised engagement. Once you have such information, it is crucial to effectively analyse it in order to assist you identify your consumers’ needs at each stage of their journey.
With the aid of real-time data, you may automate and customise internal procedures like account opening, trading, and financial reporting. That allows you to:
- Consider client feedback as you develop behavioural triggers.
- Gather client feedback to continuously raise satisfaction
- By automating operations and improving customer assistance, you may deliver worthwhile information to them and keep them interested.
- Send pertinent offers, and update clients frequently to keep them interested.
- Personalised offers can boost subscription and membership rates.
Think differently about your customer engagement strategy.
Although there is no one magic trick to boost customer engagement, each bank or financial institution can succeed by educating and involving consumers in a highly personalised way. Offering pertinent information, utilising customer data, and using an omnichannel strategy may all greatly enhance customer engagement, foster trust, and help businesses gain a competitive edge.
Utilise hubs for consumer engagement and marketing innovation, such as Moments, to begin developing enduring relationships with your clients right away.