As basic financial services like checking accounts and Internet banking become increasingly commoditized, it’s more important than ever for community banks to create unique value propositions to attract and retain key customer segments.
Demands for 24/7 self-service banking access continue to increase (especially among emerging millennials) and human-to-human interaction becomes increasingly rare due to decreased branch traffic, anticipating customer needs, devising relevant offers, pushing them to their preferred channels, and most important, making it easy for customers to act on the offer will be paramount to not only performance, but survival in the coming years and decades.
Here are five things your bank can implement to exceed customer expectations and one-up your competition.