There’s No Friendly Banker Online
You spend a huge amount of money to develop a relationship-friendly brand to acquire, keep and grow customers. You invest heavily in hiring and training personable bankers—and in marketing programs that can shape market perceptions.
For years, people responded to bank promotions by coming into or calling the bank to talk with a banker. The relationship and the path toward profitability began—first a checking account, add a savings account, then a loan and…
Not so fast.
Enter the Internet. The dynamics have changed. The human element has been dis-intermediated. To your online shoppers, banking is about facts, fees, and transactions. Most of these relationships are one-account deep and sterile. Online banking customers try to find the bank that pays the highest interest rate or one that charges the least fees. How in the world can a bank build a relationship-friendly brand in this environment?
But trying to build your bank’s personal brand online is only half the problem—starting the relationship is another. The biggest issue for bank marketers is how to get customers to stop their online search and chose to bank with you. Not just for that initial product, but to get them to come back to you over and over for other banking needs so you can build a deep and profitable relationship.