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Predicting Most Profitable Customer Behaviors is Key to Branch Revenue Growth

December 14, 2018

There are billions of dollars spent every year toward improving account holder experience in the branch, and in many cases financial institutions are left scratching their heads on the ROI.

Sure there are several high level metrics to account for sales and service. However, these KPI’s are not nuanced enough to determine such activities like how account holders feel a financial institution is helping them realize personal values, attaining freedom and independence in life or simplifying life in a complicated world.

In a new white paper from Motista, titled Making the Emotional Connection: Financial Services, the case is made around measuring and managing these nuances in the emotional connection organizations have with their customers.

Emotional Connection_general

Historically, institutions have two categories when measuring account holder service – satisfied and dissatisfied. This dated-approach leads to marketing investments into a broader spectrum, as opposed to a more targeted or tactical area. While some account holders are dissatisfied with a specific institution, most are actually unhappy with a particular sector of the business, like credit cards in the above chart.

When you dive deeper into the nuanced data you can see even the impact of more engaged account holders into specific areas, like mortgages in the below chart.

emotional connection_mortgage

Clearly, investing in customer experience solutions like lobby management software can have significant gains. However, it’s critical to understand the nuance measurements in order to more tactically invest in the branch.

See modern branch software in action and how it can improve the branch experience here.

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