the lost art of engagement

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The Lost Art of Engagement 1

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The Lost Art of

Engagement

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• 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

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Today’s Remote Customers

• Technology is causing more customer remoteness, moving brand attributes away from people to transactions

• 34% haven’t 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)

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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

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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

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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.”

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Content Will Engage

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• Creating and distributing relevant and valuablecontent to engage customers.

• Moving that engagement into more life events to start dialogues and provide solutions.

Why So Powerful?

• People are looking for easy to understand answers to their financial questions.

• People will buy from the one who provides it.

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Source:Next Century Media

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.

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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

What Type of Content is Needed?

• Your customer needs…

Broad

Branded

Easy to navigate

Easy to read and understand. No jargon!

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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

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• 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

• 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

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Examples of Delivery Platform

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Financial Answer Center

Business Answer Center

Leveraging What you Have in Place

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Engagement through

multiple channels

To initiate dialogues

with the person that

can help with

Leverage existing branch and online channels to build awareness promote usage of a new value added service.

Interactive delivery

platforms

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.”

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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

Engagement in the Branch

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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.

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Simple Introduction of a Service

Engagement Through Email

Feature your content in emails to your members!

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Twitter Solution Facebook Solution

Edu PostsEdu Tweets

Engagement Through Social Media

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Promoted for relevance and value to get followers (e.g.. Tuesday’s Tips)

Engagement Through Mobile

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EZ Viewer

All content and features of the Financial Answer Center are formatted for easy access through mobile devices

Worksite Engagement

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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

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.

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Make your own assumptions using a Revenue Opportunity Calculator at

www.Truebridge.com

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

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So, What’s the Next Step?

• Schedule a 1 on 1 demo- learn more at www.truebridge.com

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