Gaining customers through quality online experiences is something financial institutions strive for in today’s mobile society. While brick-and-mortar locations still comprise the majority of a financial institution’s business, mobile engagement has become a mainstream method of increasing account holders. With that, creating meaningful touchpoints is an essential aspect of any mobile engagement campaign.
For the uninitiated, touchpoints are the various moments in which account holders interact with a financial institution that could alter their impression of the business. In the digital world, consumer touchpoints may occur through the web or mobile devices as well as paper advertisements and other account holders. Understanding touchpoints can help address deficiencies in some areas and realize new revenue opportunities in others.
Financial institutions should take note of the following tips regarding touchpoints.
Discovering how different touchpoints work with diverse account holders is critical to allocating proper resources to each promotion. For instance, measuring touchpoints can help decision-makers understand what drives interaction with account holders. A promotion geared toward younger potential account holders may not receive much traction through paper advertisements, but the same campaign may be well received as an online banner ad that appears on mobile platforms.
Similarly, a campaign geared toward older account holders preparing for retirement may be lost on those who don’t use mobile phones to research financial products. A promotion must provide compelling and relevant information at the right time.
Touchpoints are as diverse as account holders themselves. They exist before a purchase (i.e., websites, banner advertising), during a purchase (chatbots, online help sources) and after purchases (follow-up emails, push notifications). Properly categorizing touchpoints can help a financial institution understand weaknesses and create new revenue opportunities.
The old adage about first impressions no longer applies in the digital marketplace, especially when consumers may need several interactions (or exposures) to understand a financial institution’s brand.
Improving touchpoints is an obvious step, but many financial institutions miss additional opportunities by letting their digital advertising stagnate. Continually reviewing changes in the market, as well as in account holders’ preferences, can keep advertising fresh and compelling.
Larky builds engagement and loyalty programs to help financial institutions connect with its audience at the right time and place. Larky’s expertise is built through thousands of conversations between financial institution stakeholders, consumers and advertising engineers.
Experience is invaluable when it comes to auditing customer touchpoints. Audits become an integral part of understanding the nuances between web advertisements displayed on mobile applications and on large monitors or laptops. A comprehensive customer experience audit can also answer critical questions about designing a comprehensive customer touchpoint plan, and it can help financial institutions navigate the touchpoints they cannot control. Ultimately, evaluating account holder interaction at all levels of the customer experience takes specialized knowledge and unique business acumen. These set Larky apart from the rest.
To learn more about how touchpoint mapping can maximize your bottom line, contact Larky to request a demo today.