In all the frenzy of this past Holiday season, you may have overlooked Apryl Motley’s piece on “Smarter Service” in the December 2010 Independent Banker; it’s definitely worth a read. Consumers today expect more from their community banks than ever before, and they want a lot of added value in the services they get. Motley stresses that a multichannel approach to user-driven technology (many of which a bank already deploys across its many operations) can help retain and cross-sell customers.
She emphasizes four key channels of customer engagement as prime examples: integrated voice recognition systems (IVRs); ATMs; microsites; and online personal financial management tools – and Motley stresses that the bank needs to better integrate and coordinate these services to enhance the customer experience. For example:
Presenting a Stronger Voice: Believe it or not, voice is still among the most powerful channels. With the integration of IVRs, telephone banking systems and core banking systems, customers can make deposits at the ATM and then call to verify those deposits.
Personalized ATM Service: Along with valuable information, what customers want most are high levels of speed and service, and they don’t want to sacrifice one to get the other. Smarter technology is enabling ATMs to “listen” to a bank’s customers.
Making the Most of Microsites: Stand-alone microsites (like Savehardspendsmart.com, launched by $11B Umpqua Bank in Roseberg, OR) are mini-websites that provide targeted interactive news and resources on a particular topic, product or service – customers want to rely on their bank as a trusted resource for important information.
Show Them Their Money: The ability to give customers insights about their finances without them having to do much work is driving customer adoption of online personal financial management tools; some banks are revisiting the integration of online banking and PFM applications so that customers have to log in only once to get access to a “hub for managing their accounts.”
What are you doing to coordinate your channels of customer engagement? We’d like to hear.