Banking Success: Transactions and Interactions

When was the last time you stepped foot in your bank?

From drive-through bank windows to more recent banking amenities like online banking and mobile apps, banks have practically been encouraging customers to stay away for years. Along with the conveniences for the customers, banks benefitted from less overhead and an increased focus on compliance. So after years of being told there's no need to come inside, it was as if everyone saw the light and stopped entering their bricks-and-mortar bank. Problem solved, right? Not so fast.

Over time, the banks realized a few drawbacks. For starters, customer development and selling was near impossible, let alone "upselling." With just a quick click of a "No thanks" option online, customers are quickly able to bypass new products and services. Whereas face-to-face interaction would allow a bank representative to ask questions and employ techniques to garner interest. Another downside was that bank associates became less customer-service oriented and focused more on transactions, with very little interaction.

So, now what? Many banks are working to turn things around and welcome customers back inside by creating an inviting atmosphere staffed with account acquisition and up-sell minded associates from diverse professional backgrounds. Many of the bigger banks are actively training their teams to recognize business opportunities and approach customers in a way that makes them feel comfortable to purchase, which is especially important when it comes to personal finance.

The more customers come inside and trust the person they're interacting with, the more opportunities there will be to sell. Because people want to buy, they just don't like to feel sold.

This same dynamic happens in many professional services. Is technology or streamlined processes designed to make the customer experience more convenient actually isolating your customer from you? If so, the service professionals in your company might be the ideal group to engage in initial business development steps so that potential business opportunities can be uncovered but in a non-threatening way that customers view as a value add rather than a sales pitch.