If your financial institution has a new branch on the drawing board, have you mapped out your strategy for making it a success – beginning on opening day?
We all know the challenges facing brick-and-mortar branches in today’s world of mobile and online banking technology. But branches still play an important part in attracting and keeping bank and credit union account holders.
According to a BAI survey, respondents said that when choosing a new financial institution, having a branch located less than 10 minutes from their home or office was more important to them than having access to advanced online or mobile capabilities.
In addition, we know that consumers often change banks. The primary bank-switching rate increased by more than 40 percent in late 2013 to an overall switch rate of 10 percent.
The potential customers for a new branch are there. Now it’s a matter of turning those prospects into new account holders. This is where acquisition solutions can help banks and credit unions target and convert the right prospects who value a convenient branch location and will respond to an attractive offer with the right incentive.
Acquisition tools are data driven, helping banks and credit unions target the most likely and highest value responders in your trade area. And they’re customizable, using the prospect’s name and a personalized offer and message, contained in a high-impact mail piece.
In today’s multi-channel banking world, account holders want the option to have a real-world channel, defined as your branch and a personal connection with a banker.
Take the first step to meeting consumers’ banking preferences and driving traffic to your branch with a targeted, personalized acquisition campaign that converts prospects to new account holders.
A successful acquisition campaign opens the door to providing account services in person, as well as opportunities to cross-sell, offer financial advice and resolve problems. All building blocks for solid branch performance – right from the start.
>>Struggling to acquire new accounts? Grab the “5 Ways to Acquire New Accounts to Meet Your Annual Goals” tip sheet for extra advice.