It’s no surprise that today’s consumers want their unique requirements met. But it is also not a secret that financial institutions such as credit unions have been slow to adopt personalization strategies compared to other industries. As consumer demand for individualized experiences grows, it’s vital to embrace the changes and implement new strategies.
By anticipating customer needs and optimizing their journey, financial institutions not only help them find solutions to their problems but also can generate more profit. And who doesn’t want that, right?
Personalization is rooted in developing a profound understanding of each customer’s individual needs and organizing specific experiences across all channels. It’s how you build trust. Ultimately, personalization creates a win-win scenario for financial institutions and the customers they loyally serve. Here are 5 ways how you can do that for your credit union.
Multichannel interactions
Providing consistent and accurate information across channels is crucial. The best way is to link data from multiple campaigns and parts of the organizations – to create a united narrative that tells your story. For example, you should be able to start a sales process in one channel and take it to others for closure. Different channels must be integrated as one to provide a coherent customer experience.
Data is the new money
To get a more holistic view of the customer it’s important to look at customer behavior and interactions from multiple sources. Let’s look at what information can be acquired based on browsing history on your website or even further from a standard smartphone. When this is combined with the credit union’s customer profile and AI tools we look at several personalization options that can be worked out. This data-driven approach lets you create more individualized conversations that are specific to your customer’s needs. Learn more about data utilization initiatives from one of our articles titled “Developing a Customer Experience Strategy With Data Utilization Initiatives”.
Useful content
Creating content that is resonating with customers is no easy job. Relevant and useful content can educate your customers and also help you build trust. To keep it fresh, consider doing a content audit or maybe something less formal like a survey. Then create new personalized content to fill any gaps based on the collected data. Make sure to provide your content in a variety of forms, such as how-to’s, instructional videos, checklists, etc. Our article “Content Marketing for Credit Unions: How to Create Impactful Content for Your Credit Union” will help you understand how to do this more effectively.
Personalized emails
Creating emails based on the data collected from customer interactions can highly increase engagement. You can use them as confirmations, transactions, or reminder emails. You can even send welcome emails to your new customers. Developing these so-called trigger emails can encourage a customer to check out some of your services.
Personalized website
The more the landing page connects with customers the more likely it is that the customer will convert. So, to make your website more personalized consider using data you already have, to create banner ads that can be optimized for each target audience. For example, mortgage loan banner ads for new parents, or a student loan promotion for a soon-to-be-in-college kid.
To keep pace with the changing environment, financial institutions must modernize their approach towards marketing and make it more people-based. The above-mentioned strategies can help your credit union enhance the customer experience effectively. If you would like to implement these strategies but are not sure where to start, get in touch with the team at CUWebsite Services for more information and guidance.
