by Rich Edwards Mar 16, 2022

Soliciting Feedback and Zero Party Data in Community Banking

The low hanging fruit of understanding your customers

Understanding how you stand with customer is valuable information, Photo by Jon Tyson on Unsplash

How often, if ever, do you ask your customers for feedback? Whether it’s simple thumbs up/down or more detailed user research type interviews? Research firm Avannis believes as an FI, you’ve got one opportunity a year before you risk annoying your customers. So make it count. Be deliberate and have a specific plan for

But also don’t forget “zero party” data or the data your customers voluntarily share with you. General preferences, configuration data that enhance profiles, communication channel choices are all valuable in understanding and creating a unique and personal experience for your customer.

In the same way, don’t just think of KYC as a compliance task; it’s also an opportunity to get closer to your customer. More importantly, it’s in the context of their interaction with you and your products.

All of these are simple and accessible ways to enhance the information you already have about your customers to inform your understanding of them and provide a more personal and relevant experience.

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