1. Market Research
  2. > Business Services
  3. > Advertising and Marketing Market Trends
  4. > Financial Services Digital Marketers: Four Opportunities to Improve the Customer Experience

This Stratecast report analyzes various opportunities for using digital technologies to deliver better results for banks and financial services providers. It discusses challenges that FSS digital marketers face, and opportunities for meeting these challenges: making better use of digital data; optimizing engagement across channels and devices; and improving customer acquisition processes by personalizing offers and messaging—all to reach their ultimate goals of revenue growth and retention.

Introduction
Digital marketers in the financial services sector (FSS) are hereby served notice: the status quo is no longer good enough. Continue with business as usual, and customers will abandon their current FSS company, and switch to another. An important question has emerged: are FSS digital marketers—banks and financial services companies—aware that their customers are engaging with their competitors, on multiple channels and devices? If not, they need to become aware, and fast. Nearly half ( %) of all customer
interactions with banks and financial services companies now occur online: via Web sites, social media networks, and email. However, a full % of business is still conducted in-person at the branch. Only % of FSS customer interactions now occur via phone calls.

Recent research of U.S. consumers opening accounts for new financial products revealed that consumers opened % of these accounts online, % by mobile, and 40% in a branch. Customers are not only more mobile than ever before; with a Web’s worth of choices literally at their fingertips, they are also less loyal. Now, more than ever, it is easier to shop around and switch providers. Nearly half of FSS customers ( %) are not strongly loyal to their banks: 26.8% consider themselves somewhat loyal to their bank, while % are neutral or not loyal. This is also, in part, because only % of customers say they are very confident their bank understands them.

The combination of customer mobility, the broad availability of choices on the mobile Web, and lack of confidence that their bank understands them, means that today, the opportunity for missteps is greater—and just one can result in a lost customer. Missteps by FSS providers can include sending wrong, irrelevant, or redundant information; sending the right information across the wrong channel; or failing to make appropriate offers based on understanding the customer. Any of these can send customers and prospects scurrying to competitors who, today, are just a click away on a keyboard or mobile device. Moreover, it is not just errant tactical moves that can drive customers
away; banks must get mobile right, structurally and strategically, to keep their customers. For example, % of U.S. consumers will move to another provider if a bank’s site is not mobileoptimized.

Table Of Contents

Financial Services Digital Marketers: Four Opportunities to Improve the Customer Experience
Introduction
Even with Today's Challenges, Opportunities Exist to Differentiate
Opportunities Abound for Differentiation and Improved Customer Experience
Stratecast - The Last Word
About Stratecast
About Frost and Sullivan

View This Report »

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 24 Million searchable statistics with tables, figures & datasets
  • More than 10,000 trusted sources
24/7 Customer Support

Talk to Veronica

+1 718 514 2762

Purchase Reports From Reputable Market Research Publishers
Outdoor Eating

Outdoor Eating

  • $ 8600
  • Industry report
  • November 2016
  • by GlobalData

Summary Growth in the outdoor eating market has slowed to 0.4% in 2016 (from 3.1% in 2015) but is set to recover, to 0.8%, in 2017. The outdoor eating category is continuing to grow and is expected to ...

Free-to-air Service Market - Europe and Middle East & Africa Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024

Free-to-air Service Market - Europe and Middle East & Africa Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024

  • $ 5795
  • Industry report
  • January 2017
  • by Transparency Market Research

EMEA Free-to-air Service Market: Overview Free-to-air service refers to audio and audio-visual content broadcasted free of cost to radio sets and television sets. This implies that the unencrypted form ...

Multi-Screen Advertising Market: By Modules (Advertising, Software, Products, Services and Others) By User Numbers (Smartphones, TV, Tablet, PC, Laptop) & By Geography (Global, Americas, Europe, APAC & ROW)- Forecast (2017-2022)

Multi-Screen Advertising Market: By Modules (Advertising, Software, Products, Services and Others) By User Numbers (Smartphones, TV, Tablet, PC, Laptop) & By Geography (Global, Americas, Europe, APAC & ROW)- Forecast (2017-2022)

  • $ 5250
  • Industry report
  • January 2017
  • by Industry ARC

Smartphone, tablet PC, laptops/PC and television are the multi screens currently discussed in the report. They are also called the Four-screen market and as such a nascent field compared to the huge television ...

Global Yellow Pages - Services

November 2016 $ 4500

ref:plp2015

Reportlinker.com © Copyright 2017. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.