If you’re a “visual learner” you’ll want to check this out. Our friends over at the Financial Brand have got a deluge of statistics on where the financial services industry is headed. See for yourself how their catalog of digital banking trends point to more remote banking experiences over the next decade.
300 Trends in Banking
In-branch transactions are 2230% more expensive than online ones (and 4250% more expensive compared to mobile!). A branch transaction costs about $4.25 compared to $0.19 and $0.10 for online and branch respectively.
When you couple this with expected declines in branch traffic, increased smartphone adoption and increased online banking use, it’s easy to see that digital is the definitive trend of the financial services industry for the next 6 years (at least).
In this report, those involved in the strategic planning process can find:
- Trends in mobile usage across banking, shopping and payments
- When and where consumers are most likely to use their mobile devices to bank, buy and pay
- The primary factors impacting usage, loyalty and engagement
- Demographic and territorial differences in mobile banking adoption and usage
Content Marketing – Trending Human
You’re a busy person, I get it. But I don’t care what’s on your plate, make time to listen to this BrightTALK podcast this week. It’s a perfect intro to just how powerful content marketing can be, brought to you in part by the CEO of one of the most talked about banks, Simple.
Post-crash, clients expect and need financial brands to “speak human.” This means firms need to take a fresh look at the role of “voice” in content-marketing efforts. It may not be enough to create a Twitter feed or get some videos on a corporate site. Trust and integrity are still top of mind for customers. And a more “human” approach may require deeper changes. In this podcast we’ll explore easy strategies to help financial brands create more authentic communications.
Can’t recommend this enough. Make time for it.
Ideas for a Digital Onboarding Process
Us financial marketers understand just how important a strong onboarding process is. To be a little reductive, it’s our job to get people to pay attention to what we’re saying. Well, you never have a better chance to say something than during onboarding. This is exactly when customers are exclusively rapt and scrutinous. In a scarce few months you’ll be old hat. A customer will feel like he/she has been banking with you forever. So, upfront, you need to communicate your brand identity and what it can offer – before the customer gets bored.
For banks and credit unions, the onboarding process is a critical moment to retain your customers’ interest. They’ve heard what you have to say, they understand what you’re offering and they’ve decided to open an account with you. You’ve worked hard to gain your customer’s attention. Hold on to it with an effective onboarding process.