Banking customers don't want a one-size-fits-all experience when visiting a branch or your website. Learn how to connect to customers with personalization.

Get Personal: The Secret to Connecting with Bank and Credit Union Customers Online

Fri Jul 18, 2014

Calling all financial services marketers! We’ve teamed up with digital marketing agency, Boston Interactive for a three-part blog series discussing website personalization and the impact of providing your customers with targeted, one-to-one content. Stay tuned to learn the benefits, techniques and tools for developing a digital presence that builds deeper connections with key audiences and supports the overall success of your financial institution. 

Part 1: A Worthwhile Investment

One size no longer fits all when it comes to the banking world. Customers today want to be greeted by name and talked to on a one-to-one basis from the minute they walk into your branch to the moment they leave. Pair these in-person expectations with the continued growth of online banking and the need for your website to deliver an individualized user experience becomes quite clear.

According to Cisco’s Customer Experience Report on Retail Banking, 69% of consumers today are willing to reveal more personal information about themselves in exchange for more tailored financial service. Your audiences are seeking identity theft security, savings advice, educational content and financial assessments that are specific to their questions and concerns. Gone are the days when a single marketing message could engage all of your audiences. It’s time to get personal and utilize your website to deliver one-to-one communications.

Implementing website personalization techniques shows your customers that you care about their unique needs and value each of them on an individual basis. The result is a more positive user experience that has been linked to supporting the following business goals:

  • Customer Acquisition: Personalization has been shown to be a driving force in igniting word of mouth marketing and referral business for credits unions and banks alike. When a customer has a positive experience with your website as a result of being talked to on a one-to-one basis, they are more likely to share their experience with your brand across their personal networks. This organic word of mouth marketing tactic not only creates a buzz and builds awareness around your brand, but also captures the interest of potential customers, which ultimately drives customer acquisition. 
  • Improved Customer Loyalty: Individualized website content conveys to your customers that you are appreciative of their business and value their decision to work with you. This satisfaction among users is a key driver in earning a customer’s trustand consequently, their loyalty. Customers who feel more loyal to a brand are more likely to adopt new programs and policies such as a new online banking system or mobile application.
  • Increased Customer Lifetime Value: Website personalization plays a major role in retaining customers and increasing their individual lifetime value. A customer presented with messaging that is specifically catered to their banking wants and needs feels more strongly connected to a brand than a customer who is shown a generic, mass message. Feeling closely connected to your brand will not only discourage your customers from taking their business elsewhere (decreasing the threat of competing financial institutions) but also encourage them to broaden their engagement with you.

Interested in implementing personalization techniques on your financial services website? Discover proven strategies and tactics for delivering individualized content in next week’s post from Boston Interactive, Part 2: A Wealth of Opportunity.

Jeff Palopoli, Boston Interactive
Jeff Palopoli
Account Director | Boston Interactive

As Account Director at Boston Interactive, Jeff works with clients to manage and execute digital properties from strategy through all phases of design, development and deployment. He has worked on interactive projects for credit unions and banks and has extensive experience working on the client side for financial institutions as well. Outside the office, Jeff can be found on the golf course, or running after his two kids on a South Shore beach.

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