June 22, 2017
Millennials are now the largest population segment ever in U.S. history. (FICO, 2014) Even though half of millennials claim a national bank as their primary bank, they are also willing to open an account somewhere else—giving your community bank a great opportunity. (Accenture, 2015) Investing in customer loyalty with millennials creates multiple wins; 56% of surveyed millennials have recommended their bank in the past. (FICO, 2014) Not only can millennials develop into loyal customers, they are more likely to promote their bank and services compared to other groups.
April 6, 2017
Grow Your Bank without Growing Your Customer Base
Are you Maximizing Your Current Customer Accounts?
Increased competition and new banking methods make customer acquisition harder than ever. Instead of struggling to acquire a new customer, try switching your focus from acquisition to expansion through cross-selling. Expanding the number of products and services that your current customers utilize allows you to increase deposits or revenue without incurring the costs needed to convince a new customer to switch banks. Cross-selling and customer retention is critical in getting ahead of the competition.
February 21, 2017
Does Your Website Function As A Branch Office?
It’s no secret that your customers’ habits have changed due to the convenience that technology now provides. Where people bank has evolved from the branch to the website to a mobile application, but are you still providing them with the same opportunities and services online that they would receive in a physical branch? We have created a guide for you to assess your digital assets.
February 9, 2017
The Master of Mobile Money
There are dozens of financial apps but Venmo has proved it is here to stay. According to their website, the financial app had $1.6 billion dollars of transactions in the first quarter of 2016. It is no secret that the dynamic of banks’ relationships with their customer has significantly increased online. Venmo’s dominance with millenials is increasing the incline of the steady downfall of their relationships financial institutions.