Navigating Effective Communication through the Pandemic
During this global pandemic, many businesses these days are struggling to get customers in to their physical stores. Banks are not exempt from this struggle. Financial institutions, who wish to succeed, must maintain consistent and clear communication with their customers. This may sound easy, however, many challenges are present that need to be overcome. How can you, as a bank owner, keep up with the chaos from the pandemic and still remain in business while effectively communicating information to your customers?
Start off by thinking about what your customers are in need of right now. It’s difficult to foresee the future, so many business owners need to focus on what their customers are facing right now. Now, more than ever, customer retention is key in keeping your bank afloat. Satisfying immediate customer needs is essential at this time. Gary Romano, president and CEO of Civitas Strategies, recommends actively listening to your customers’ problems when you talk with them since sales is ultimately about solving their issues. He said, “The challenges your clients had four weeks ago are likely very different than today,” which is absolutely true during these unpredictable times (uschamber.com, Gary Romano).
Secondly, most business owners must focus on providing daily, routine updates. This can be as simple as sending out emails to your most regular customers and even new customers. Updating all your social media accounts to have the most accurate and up-to-date information is another way to do this. The last thing you’d want, as a business right now, is for a customer to be confused and frustrated because they cannot locate your hours of operation or determine whether the physical branch is even open. Every day customers will be presented with new challenges and stressors that they will need to overcome daily, due to unpredictability. Being there for your customers as a business today takes more work than just actively listening to them, you also need to be able to solve their problems. Solution selling uses a problem-led approach to decide whether a change or upgrade in a product could bring improvements that are desired by the customer themselves. Solution-based selling will give your company a strong advantage as we all continue to live through this global pandemic.
Lastly, customers must be shown that they are the most valued components of your business. A lot of them may not be able to interact with you face-to-face or come to a physical store but it’s still important to show them you’re thankful for their continued support. Understand that every customer is different and will value different things. Identify the customers in your area and meet their needs to create loyalty and perceived, positive value of your bank. Demonstrate compassion and community pride by getting involved with your customers and setting up a food drive to assist your whole community. The more you’re able to do as a company now, the better off you will be when times slowly shift back to normal.
Communication itself is easy to understand. Complexity arises with the need to effectively communicate with customers on a regular, routine basis during a pandemic. This presents a challenge to businesses universally. Knowing your customers’ immediate needs, inside and out, leads to developing a knowledgeable sales team. By implementing a solution-based selling plan and providing up-to-date communication, you can to show your customers that you are there for them when they need it most.
About Automated Systems, Inc.
Since 1981, Automated Systems, Inc. has been a leader in providing innovative core banking, digital banking, and data processing solutions to community banks nationwide. An array of integrated applications provide partnered banks with tailored, cost-effective, competitive choices. ASI delivers industry-leading technology backed by unparalleled in-house conversion, training and support teams; paving the way for progressive, top-notch customer service. ASI corporate headquarters are located at 1201 Libra Drive, Lincoln, NE 68512, 1.800.279.7312. For more information about banking solutions from ASI, visit www.asiweb.com.
About Insite Data Services
IDS data application hosting services combines secure and cost-effective core banking applications, enterprise-class servers and storage, and proven virtualization technology. IDS hosts all of the bank’s servers in secure data centers that use state of the art security systems including identity verification and biometric scanning. Insite Data Services also offers IDS On-Time, a full-service solution dedicated to back-office bank processing. These operations experts allow partnered banks to focus on their most important asset, their customers. For more information visit www.insitedataservices.com.
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