When does real-time matter in banking marketing?

When does being relevant to your customers demand you listen and take action immediately

When do seconds matter in your customer experience? Photo via DALL-E

There’s a level of interaction with your customers that is patient, which can be asynchronous. When you’ve communicated expectations around the required AML/KYC or underwriting process and got buy-in from your customer, time isn’t the critical element.

However, at some points in your conversation with your customer, being responsive can help you stand out and highlight your commitment to service. It might even be a requirement to stay in consideration with your customer.

Real-time capability to respond to your customer’s actions can make the difference between a win and a loss. How often do the following occur with your customers?

  • When your customer shows clear intent: When a potential customer or member takes an action that you know (because you’re validating your customer experience). When a customer visits or re-visits a loan products rate page without applying or completing an application, are they identified as being in market for that type of product? Does that automatically trigger ad retargeting, messaging, or other follow-up based on what you know about them?

  • When your customer takes a small step: If your customer just progressed through your funnel towards a big action you’re guiding them towards, you’ll need to ensure they aren’t receiving the same ads that got them to this place. Can you identify this and present messaging and content appropriate to the phase of their buying journey?

  • When you’ve determined they shouldn’t be your customer: If someone comes through your funnel and isn’t a good fit, do you stop courting them (at least for that offering)? Can you suppress advertising and direct messaging for that outcome or goal? Consistency like this drives your brand reputation and gives you another chance with them if you have an offering that is a good fit now or in the future.

  • When you acquire a new customer: Onboarding is a high-stakes moment in a customer’s life. It is their first experience with you as “their” bank or credit union. It’s also when buyer’s remorse and potentially overwhelming fears they’ve made a mistake engaging with you arise. Are you taking the time to have a well-crafted onboarding experience, including messaging, personalized app/web walk thru’s, and even a personal welcome from you as soon as they take action? The key is to provide evidence that they’ve made the right choice. Look to help take the first actions to get them a quick win or delight them.

These are just a few examples when waiting for tomorrow or next week to schedule a follow-up or take action can leave your customer looking elsewhere. Many of these scenarios could leverage automation when your customer experience is detailed, well thought out, and instrumented. If you’re looking for ways to create a more relevant and personalized experience for your community FI customers, we’re here to help.

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