I would like to thank all the readers that have followed our blog so far. I just want to let you know that we are moving!
Please follow the link to our new site!
There has been a shift in the way banks are marketing to consumers. The focus has been turned to retaining customers in light of the economic downturn. With new legislation being passed in Congress to regulate these institutions people are increasingly becoming less trusting of the banking industry. So what can banks do in order to keep their customers feeling confident?
Creating new marketing that mixes customer service strategy within marketing strategy. In a survey 88% of marketers for banks report that they integrate marketing and customer service strategy, however only 27% say that the bank communicates these strategies to the customer service teams. Banking begins with customer experience, the people who make the decisions within a banking structure are rarely the first people a customer meets in their banking experience. The tellers and personal bankers make a huge impact on the customer’s overall satisfaction with their banking experience. Marketing must begin at the top and end with the people consumers come in contact with first.
This gap in the marketer’s vision and what customer service representatives deliver is the downfall of current bank marketing solutions. Having tools that help representatives ensure that customer’s are receiving the service they need and the correspondence to keep them at the banking facility.
Retail banks not only need to further integrate marketing with customer service, but also ensure that the service teams have the tools necessary to provide excellent marketing correspondence. Creating this integrated customer service and marketing can start with simple correspondence between customer service representatives and marketers. Creating a program between customer interaction and subsequent e-mail marketing or advertising efforts will personalize customer experiences and create a feeling of comfort that is hard to find in today’s economic market. These steps will help to continue acquiring new customers while retaining current customers.