With Valentine’s Day around the corner, I thought it was a good time to think about how we establish life-long relationships or connections with our banking customers. For those of us that remember, it used to be a relatively easy thing to do. The customer would wander in the branch, and you would greet them on a first name basis, buy them a coffee, and inquire about their kids or the latest holiday that they had been saving for.
With customer divergence from branch to self-service channels such as ATM, Mobile and Internet Banking channels, relationships and connectivity have changed – big time. Many of the things we used to know about our customers, learned from personal interactions, are now buried in a growing sea of electronic transaction data.
Although the complexity and volume of this data may seem overwhelming, line of business managers, marketers and operations teams realize that, when harnessed and leveraged correctly, transaction data also represents a live, “always on” feed into how the organization is performing, how services are being delivered and how happy end-customers really are.
Earlier this week, INETCO featured Celent’s Senior Banking Analyst, Bob Meara, on a five-star webinar that talked about how retail banks are using transaction data to try better connect with customers, and meet the growing demand for customer analytics.
In the whitepaper we released today, titled, “Driving Banking Engagement with Customer Analytics”, we expand on the topics discussed in the webinar, and share new approaches to transaction data collection, storage and visualization that are making it easier to know your customers again, adopt data-driven decisions, and produce more robust customer analytics – without over extending your operations teams or budgets. You can download your copy here.
The art of customer connectivity is not lost; it’s just changed. That means we need to change too!
We hope you find the information useful. If you have any questions, or would like more information, please do not hesitate to contact us. Happy Valentine’s Day to all!