Articles
Making The Most Of Your Face Time With Retail Banking Customers
May 20, 2008
•White Paper: Making The Most Of Your Face Time With Retail Banking Customers
It wasn't so long ago—certainly within the careers of many of today's bank executives—that banking industry success was based on one thing: branch convenience. As recently as the early 1970s, products and services were highly regulated. Interest rates were identical. Market areas were protected. Competition was controlled. All a bank needed to do in a branch banking state such as California was to keep opening offices in convenient locations, and customers would pour through the door. Essentially, if your bank built it, they would come—to paraphrase a well-known movie line.
Today, all that has changed. Financial institutions must confront numerous complex challenges in a dynamic marketplace. With regulations greatly relaxed, competitive pressures and economic uncertainty present meaningful obstacles to profitability for banks. Without a doubt, a strategically situated branch delivery system still offers a huge competitive advantage, and many customers continue to choose their bank because it has a branch close to where they live or work. But with online banking, ATMs, and self-service kiosks growing in popularity, most customers simply do not visit branches as frequently as they might have in the good old 1970's.
So when customers do come in—when that person walks up to a teller to handle some business, sits at the new accounts desk to explore your latest deposit or service offerings, or makes an appointment with a credit officer to look into a loan—it is critical that you make the customer experience efficient and satisfying for the customer, and productive and profitable for you.
How does one accomplish that? How do you position your financial institution and your people as indispensable? How do you provide exemplary customer service while you whet your customers' appetites for your latest products and services?
Click Here To Download:•White Paper: Making The Most Of Your Face Time With Retail Banking Customers
