5 Digital Engagement Tips for Financial Institutions

5 Digital Engagement Tips for Financial Institutions

Generating leads and driving traffic to your website or app is easy. Determining what happens to those potential customers once they arrive is essential. Consumers leave websites in droves due to confusion and a lack of clarity.

In her article recently published by Banking Administration Institute (BAI), Tara Sporrer, SVP of Marketing at goMoxie, shares the five principles of digital engagement that can build consumer trust and turn traffic into leads.

1. Help Customers Help Themselves

Consumers want to be self-sufficient, yet financial institutions often fall short of that expectation. With half of consumers abandoning online applications out of confusion or frustration, financial institutions must make their self-service digital journey as user-friendly and successful as possible.

2. Go Beyond Skin-Deep

You can’t rely on design and imagery to somehow improve the actual digital experience you’re offering. Account acquisition depends on providing customers with substantive expertise and relevant guidance to inform the best decisions.

3. Be Realistic About Your Contact Center

39 percent of consumers say they’d rather clean a toilet than call a financial institution for help. Why would a consumer want to waste their free time by waiting around to reach a live agent? For help to be effective, it must be provided in a way that people want to receive it.

4. Understand Your Consumers Need

Quality over quantity. Don’t offer all the options for assistance without making the answers easy to access. Focus on an online experience that eliminates confusion.

5. Anticipate and Guide

Don’t wait for customers to fail. Anticipate their needs by recognizing when they’re running into difficulties. Analyze online behavior or past customer interactions to identify key hesitation points. Reduce customer anxiety by helping them before they even realize they have an issue.

A proactive approach to customer guidance gives customers a better experience and helps financial institutions reach their account acquisition goals. Discover more in Sporrer’s article, “Five ways financial institutions can turn traffic into customers.”