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Recognize Multiple Customer Journeys

As a financial institution, you offer a variety of services and products, ranging from business loans to the value derived from your personal banking mobile app. Each facet of your organization – the people, the technology, the unique value propositions – serves as a unique reason a customer might seek out your organization.

In this sense, you should recognize and strategize around the various reasons a new customer might seek out your organization. For example, a local business owner who walks into your branch location seeking a business loan is going to have a very different perception of your organization from a college student who applies for a checking account after clicking on a banner ad.

Each customer journey is unique, and contains unique desires, preconceptions, motivations and life circumstances. In order to better acquire new customers, look closely at your existing customer base to understand the paths that led them to you, and how you can tailor that journey in the future.

Create an Initial Win

If addressing the entire customer journey for a variety of paths feels too daunting, start with the initial acquisition phase. Understand the motivations customers have to work with your organization, and think about each unique product/service someone might want to work with you, as well as what that person looks like.

Then, deliver on that first phase. If a tech-resistant older customer is looking for a banking app they can understand, make sure your app is air tight. If a local business is looking for a loan, understand and address FAQs around the topic. Think about how you can “wow” new customers who want to do business with you, and create an early win that will put a good taste in their mouths to deepen their relationship with your financial institution.

Solidify the Relationship

After initially creating an early with with a new customer, think about ways you can broaden and deepen your relationship with them. Sometimes, simple actions can go a long way. If an individual just opened a checking and savings account, ask them about their use of the mobile app, and if they have any questions. If your team helps an individual with a mortgage, ask them if they have questions about the home buying process.

Some of these activities don’t have a direct return on investment, but signify your desire to create a deeper, more meaningful and productive relationship, where you serve as an unofficial consultant for your customers.

Additionally, you should be making an effort to align your brand with their everyday lives. Think about products like budgeting tools, where your organization can help play a role in customers’ financial organization and wellbeing. Growing your involvement with them ensures the longevity and value of your relationship, and can help create an active promoter of your brand.




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