Roughly 50% of account holders visited a branch for information, advice, questions, or to open an account in the past two years, according to a study from Celent (Shevlin). An average of 40% of consumers consider convenient locations a factor in their choice of financial institution.
Well over half of Americans (66%) check their bank account at least once per week. A similar majority (73%) also reported they carry two or fewer credit cards. (Lexington Law) Another 53% consider paying off debt a high priority. Surely, such signs are indicative of financial responsibility?
Fewer than 1/3 of B2B and less than 1/2 of B2C CMOs actually use all of the data marketing analytics has been providing to make critical marketing decisions.
The cumulative experience of your account holder is the only genuinely durable competitive advantage you have. It is not your interest rates. Nor is it your locations or convenience. Everything rides on the consistent delivery of positive client experiences, or CX.
How much video have you watched recently? What about your friends, children, coworkers? If you have been anywhere near social media, news sites, or…you know, the internet, you have likely seen and or watched at least a few seconds of footage. Because video is everywhere.
Millennials have quickly overtaken Baby Boomers and Generation X as the dominant generational demographic in the world.
Goods and services have swiftly begun to leverage the growing buying power of this age group. But how are these consumers managing their finances?
Today’s consumers admit to knowing very little about managing finances. But they want to learn. Even better, they want to learn from you. J.D. Power reports 78% of US retail banking customers would prefer to receive financial advice or guidance from their bank or credit union.
The best example of a failed call-to-action (CTA) I have ever seen wasn’t a CTA. It was a scene in the famous 1967 Mel Brooks film, The Producers. Max and Leo (played by Zero Mostel and Gene Wilder) are on the edge of their seats – waiting for the mass walk-out every bad play sees at intermission. Instead, they are met with joy and laughter.
The majority of financial account holders (86%) expect a seamless experience across channels and devices when conducting banking activities, according to a recently released US consumer survey from Computer Services, Inc. (CSI).
Banks and Credit Unions are terrible at writing content. A recent report from VisibleThread discovered the average financial institution scores a 48 or lower on the Flesch-Kincaid readability test – a metric rating the ability of an average consumer to understand what is written.