Why customers stray and how to stop it

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1. Why Customers Stray and How to Stop It 1 2. 14 year old Financial Marketing Company Principals have spent a majority of their careers in the financial services and marketing industries Work with financial institutions of all sizes in helping them generate more sales through more channels 2 3. Todays Remote Customers Technology is causing more customer remoteness, moving brand attributes away from people to transactions 34% havent been in a branch in 6 months (bankrate.com) Millennials see branch as irrelevant with 92% preferring to do their banking online (TD Bank Study) 3 4. Lack of Engagement Branch mystery shop of 134 banks (Econiq) 88% offered only single product 11% offered companion savings 1% offered non-deposit product Survey of 4000 retail bank customers (Accenture) 74% consider their banking relationship to be transactional rather than relationship driven 4 5. Need to Engage Beyond Transactions Building a brand image beyond transactions - as a place to go for more financial needs Leverage branch and digital channels to engage customers in more meaningful ways Turn those engagements into selling opportunities 5 6. Engagement Means Sales Gallup research customers that are fully engaged represent an average 23% premium in terms of share of wallet, profitability, revenue, and relationship growth. 6 7. Content Will Engage 7 Creating and distributing relevant and valuable content to engage customers. Moving that engagement into more life events to start dialogues and provide solutions. 8. Why So Powerful? People are looking for easy to understand answers to their financial questions. People will buy from the one who provides it. 8 Source: Next Century Media 9. Why So Powerful? This is especially true around life events when, according to Forrester Research, they are 43% more likely to buy a financial product. You want to engage in a meaningful way that makes you that resource for answers, not the competition. 9 10. 10 Content Marketing: A New (Old) Strategy John Deere 1895 newsletter on technology in agriculture Nike -1966 - benefits of jogging, not selling shoes Home Depot - today teaches people how to build a fence 11. What Type of Content is Needed? Your customer needs Broad Branded Easy to navigate Easy to read and understand. No jargon! 11 12. What Type of Content is Needed? Your institution needs Professionally created and maintained to satisfy legal, tax and regulatory changes. Compliance reviewed including FINRA review letters for investment related content Reviewed and approved by B/D compliance department Expanded as needed to reflect changing rules and regulations 12 13. 13 Content that sits idle is not helping your customers and not helping your financial institution Its more than just passively offering financial literacy or general education Most people react to events as they occur They want just the answers they need at just the time they need them It Takes More than Content to Set Up Selling Opportunities 14. Delivered around life events when people are looking for answers and more likely to buy. Delivered in a way that engages people and allows them to uncover hidden needs. Delivered in a way that connects them with the person who can help with those needs. Delivery Platform is Key 14 15. Examples of Delivery Platform 15 Financial Answer Center Business Answer Center 16. Emotion Adds Impact Feelings are Facts - Only 30% of human decisions and behaviors are actually driven by rational considerations Nobel prize winners Gallup Emotionally connected customers tend to deliver significantly enhanced business results when compared to their rational counterparts. 16 17. 17 Engage Emotionally Save money (Satisfaction) Avoid mistakes (Fear) Protect those who count on you (Confidence , Lack of Guilt) Focus on the emotional benefits of the help you can provide 18. Leveraging What you Have in Place 18 Content / Delivery Platform Immediate Connection to Exact Person Leverage existing branch and online channels to ENGAGE in ways that lead to more sales Engagement through Existing Channels 19. Engagement in the Branch 19 Onboarding Account Servicing Frontline employees introduce the content as a value added service and offer guides relevant to their life events as a part of their everyday service-focused routine. The request for a guide is an automatic lead. 20. 20 Simple Introduction of a Service 21. 21 Automated Fulfillment 22. 22 Engagement Through Website 23. Engagement Through Email Feature your content in emails to your members! 23 24. Twitter Solution Facebook Solution Edu PostsEdu Tweets Engagement Through Social Media 24 Promoted for relevance and value to get followers (e.g.. Tuesdays Tips) 25. Engagement Through Mobile 25 EZ Viewer All content and features of the Financial Answer Center are formatted for easy access through mobile devices 26. Worksite Engagement 26 Financial education is one of the most rapidly growing employee benefits. Your business customers can provide it to their employees with a simple link. Link to Financial Answer Center as an employee benefit draws employees of business customers to you for financial education and people that can help 27. The Financial Focus If 1 in 3 appointments buy with an average net present value per sale of $2000 (deposit, loan, mortgage, investment, insurance, etc.) the value of 1 sales appointment is $660 Target of over $100,00 new revenue/branch/yr. A single appointment from a branch in a month returns over 6 times the cost. 27 Make your own assumptions using a Revenue Opportunity Calculator at www.Truebridge.com 28. Truebridge Content Marketing System Affordable monthly subscription includes: Full turnkey Content Marketing System Customized to match your look and feel Integrated employee pictures and contact information Professionally maintained by a top national accounting firm Individual customer service to ensure active usage and shared best practices Hosted through top-ranked secure facility 28 29. So, Whats the Next Step? Schedule a 1 on 1 demo- learn more at www.truebridge.com 29