5 Steps to Deeper Customer Engagement in Banking
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Overview: It is recognized that customer engagement, or repeated positive interaction which creates an emotional connect with customers, is very important to a business’ success. Customer engagement studies show that it is viewed as a means to several ends, such as increasing value obtained from and delivered to customers, enriching product offerings, strengthening brand loyalty, acquiring consumer insight and improving market share. In banking, customer engagement is closely linked with the quality of user experience -- which is logical, since a customer who has just been through a forgettable experience is hardly likely to seek a repeat instance. The following steps can help banks crack the code: • Institutionalizing customer relationships; • Improving cross-sell ratios; • Increasing opportunity to be in touch; • Keeping track of customer satisfaction; and • Building customer advocacy.