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3 Retail Banking Tips To Improve Your Customer’s Experience

Providing the best possible customer service is a top priority for many companies, encouraging repeat business and customer loyalty, as well as keeping the reputation of your business high.

One study by Gallup measured how engaged customers felt after visiting retail banks.

Customers who were offered speedy service were six times more likely to be highly engaged, and customers who felt bank staff were courteous and willing to help were nine times more likely to be fully engaged, highlighting the importance of good customer experience and indicating that people attributes are far more important than speed of service for banking customers.

In this blog post, we’ll give our top three tips on what banks can do to improve their customer’s experiences and ultimately encourage brand loyalty.

Give Customers The Ability To Book Banking Consultations Online

Giving customers the ability to book banking consultations online offers them a more convenient way to speak with a specialist at a time that fits into their schedule and avoids the need to wait in line.

Using an online booking system also allows customers to specify what they want to talk about in advance so the banking specialist can prepare for the consultation and answer all questions in as much detail as possible.

Online booking systems are also a great way to encourage customers to rebook appointments and revisit the bank, for example, through providing automatic reminders.

Provide Customers With Tips On How To Improve Their Finances

Many retail banking institutions are bringing educational initiatives to their branches to give customers knowledge on things like how to raise their credit score, how to budget for their mortgage and how to keep up with bills and commitments.

US bank, Operation HOPE brought its financial literacy program into local branches to provide middle class customers with financial education that they may be too embarrassed to ask for.

Other banks providing these kind of services include the Bank of America, which partnered with Khan Academy to offer its customers financial video tutorials, and Capital One, which offers its customers free multilingual financial education.

Embrace New Technologies That Make Banking Easier For Customers

Financial technology is fast becoming a game changer for the financial industry, meeting customer’s demands for immediate and on-the-go service, ultimately increasing customer satisfaction.

Examples of advances in financial technology include mobile payment options, using customer data to enhance marketing and offer geographically targeted offers, and using things like voice identification and eye scanning to improve banking security.

If you’re in the retail baking industry, we’d love to hear your tips on how you improve customer’s experiences. Share with us in the comments below.

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