6 Ways to Secure Customer Engagement in the Banking Industry Today


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As we all know, customer engagement is not something to be achieved overnight, especially in competitive markets like the banking industry, where creative marketing strategies with surprising offers seem to be the way to stay up on top in comparison with your competitors. But, taking into account that not always reducing fees is the way to take the path of prosperity, how can I keep my client agenda expectant for what’s coming next?

1. Target a broader audience

When most people are thinking of pros and cons prior even considering to open a bank account, your move should be to make their life easier: say goodbye to those foot-length requirement pages for clients to meet in which banking institutions ask everything but blood type group prior opening a saving’s account.


Photo courtesy of Pixabay

Younger people are eager to start saving money for their future, or ready to settle down, which cannot be expected if the potential client is asked for many bureaucrat documents like requiring 3+ years of working history, properties listed under their name or a considerable sum of money for opening their account. Not everybody is prone to ask for a loan, so open the market for those who are willing to trust in your reputation to keep their money safe.

2. Avoid “institutional conversation.”

Regardless of what seemed to work ten years ago, people like to feel pampered prior acquiring a new product or service. Why? Blame mobile marketing for this, as people are constantly looking for who takes their needs into consideration.

Your aim should be to build trust with your potential client, putting their needs and interest at your service for providing the best product available for their current situation. This, of course, implies a change of mindset where knowing about the products available for customers isn’t enough but training as a sales representative.


Photo courtesy of Tim Gouw

3. Gather and organise data from your client’s interests

Something as easy to craft as a survey can prove to be of immense value when looking for ideas in what to offer next. It shouldn’t be a surprise for people when their sales executives are filling data via their tablets or give you an URL for filling a questionnaire – it’s the fastest and securest way to get valuable data on how the service provided turned out to be, if their expectations were met, on what else they would be interested or how to improve the current service.

In case you wonder how to make this offer more attractive for your customers, give them something back as a reward, like a chance to take part of a giveaway for a trendy product – that’s always an eye catcher!

4. Give a personalised message

A big NO in marketing that banking institutions should learn is to avoid the “Dear Client” approach. Such cold mean of communication implies a barrier between client and institution, not to mention reminding people of public services – which often have a bad reputation among the public in general. Instead, go for the “Dear (customer name)”. Stick to first name base only; it will prove to be your best resource to show your clients that you care for what they might be needing as there is no automatization in this process.

5. Cover the entire picture of mobile banking

In a world where smartphones and technology, in general, are not appliances but tools for a living, mobile banking should be considered from day zero, making your customer’s transactions a neat, comfortable process for avoiding long queues at your locations.


Photo courtesy of Negative Space

Start by ensuring Privacy Protection and Security Services for all the transactions that take place on your website – 2-step authentication or the usage of biometrics is a great way to catch your client’s interest. Then, proceed to make your client’s life easier by introducing Online Banking Services, Online BillPay Services, Instant Wire Transfers with reduced fees than the ones processed at the physical institution or better exchange rates for money, only available through mobile service.

6. 24/7 Customer Service

There is no better way to explain the concept “we care about your needs” than providing a 24/7 customer service covering different means of communication. For achieving this, you can rely on the services of live chat clients, phone call services, emails and face-to-face customer services at your local institution.


Photo courtesy of Unsplash

Of course, many transactions can be held back due to banking shift. However, you can use the 24/7 customer service to attend the inconveniences clients may experience with mobile/online banking, or simply schedule their inquiries for having an executive to contact the clients the next day.

By taking these tactics in consideration you are moving a step closer to secure a good, loyal, client’s database, and on top of that, getting referrals. Is there anything better for business growth?

Vikas Agrawal
Vikas Agrawal is a start-up Investor and co-founder of the Infographic design agency Infobrandz.com, He is a highly influential research analyst and strategic marketing consultant.Vikas advises and plans the visual marketing campaigns of Medium to Large companies. Vikas has worked globally across multiple industries including retail, financial services, logistics, manufacturing, telecoms and pharmaceuticals deploying effective strategic marketing plans and methodologies. A renowned blogger on the subject of Technology, Marketing and Entrepreneurship.


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