Bank customer relations: Putting the customer at the heart of your strategy

Relation client banque : Mettre le client au centre de la stratégie
Article summary

At a time when digitalization is gaining the upper hand, the human dimension remains a key element, particularly in the banking sector. Trust, the cornerstone of any relationship, can only be established if the customer feels listened to, understood and valued. The customer-bank relationship is therefore crucial these days.

Today’s users are better informed and have higher expectations than ever before. They demand customized functions that are fast and efficient. Ignoring this reality can be risky for a banking institution. On the other hand, a well thought-out, user-centric strategy can not only retain existing customers, but also attract new ones through word-of-mouth. New technologies, such as contact center software for banks, can help institutions improve customer relations.

The aim of this article is to guide financial institutions, customer service managers and customer advisors through the various steps involved in perfecting their customer contact management. Because one thing is certain: in the competitive world of banking, it’s thecustomer experience that will make the difference.

What are the fundamentals of customer relations?

Customer relations are rooted in a number of fundamentals that guarantee healthy, productive interaction between a company and its users. Let's look at these fundamentals through the lens of the relationship between a banking institution and its customers.

  1. Trust: At the heart of every relationship, trust is essential. For a bank, this means guaranteeing the security of user data, being transparent about fees, and honoring its commitments.
  2. Understanding: A bank must seek to understand its customer's specific requirements in order to offer appropriate solutions, whether for loans, savings or investments.
  3. Communication: Clear, regular communication is essential. Users need to be informed of changes and offers, and have open channels for asking questions or voicing concerns.
  4. Accessibility: In the modern world, users expect to be able to access their banking services at any time, whether via an app, a website or a telephone helpline.
  5. Proactivity: Anticipating customers' requests, offering new products or features before they ask for them reinforces loyalty and shows that the banking institution values their relationship.

By mastering these fundamentals, financial institutions can ensure that they maintain solid, beneficial and lasting contact with their customers.

Building customer loyalty through good customer relations

In the banking sector, competition is fierce. With an abundance of products on offer, customer loyalty is no longer based solely on prices or services.

It is the quality of the customer-bank relationship that stands out as a decisive factor. Indeed, a banking institution that is more receptive, understands and responds to the specific needs of its customers wins their trust.

For example, a bank that launches an innovative loyalty program, offering personalized benefits based on transaction history, may have a 20% higher retention rate. Research shows that a loyal customer is also an ambassador, often recommending a financial institution to friends and family.

Stand out from the competition through customer relations

In a saturated banking landscape, offering similar services is no longer enough. Real differentiation comes from customer know-how.

By putting the customer at the heart of its actions, a bank can create unique added value. For example, by introducing a personalized 24-hour advice service, responding instantly to customers' financial concerns.

This approach can help you gain recognition and stand out from the crowd in a competitive market. It's a proven fact that a strong, authentic customer bond leads not only to satisfaction, but also to a strong, distinguished brand identity.

Bank customer relations: Consumers want to be heard

In our digital age, consumers want more than ever to be heard and considered. According to a recent study, 80% of customers would be willing to switch banks for a better customer experience.

Listening is the essence of a successful customer connection. This enables banks to understand changing expectations and adapt their services accordingly.

By actively listening, banks can anticipate needs, strengthen loyalty and respond effectively to market demands.

What are the key issues in customer experience?

The customer experience is at the heart of today's business concerns. In the banking sector, this know-how translates into a multitude of vital issues:

  1. Customer loyalty: A positive customer experience strengthens customer loyalty. In a competitive banking world, retaining customers is as crucial as acquiring new ones.
  2. Acquiring new customers: Word-of-mouth, amplified by social networks, can work in a bank's favor or against it. Excellent customer expertise is the best ambassador for attracting new customers.
  3. Cost optimization: A satisfied customer makes fewer demands on customer service, reduces complaint costs and avoids costly disputes.
  4. Differentiation: In a sector where offers may appear similar, customer know-how can be a real competitive advantage, enabling a bank to stand out from the crowd.
  5. Innovation: By listening to its customers, the bank can anticipate their needs and develop innovative services, thereby guaranteeing its long-term future.

Finally, the customer experience is more than just a simple interaction; it encompasses the entire customer journey, from subscribing to a service to using it on a daily basis, and largely determines a bank's long-term success.

How do you deliver a quality customer experience?

To deliver a memorable customer experience, here are a few key steps:

  1. Active listening: Use surveys and feedback sessions to gather customer opinions.
  2. Ongoing training: Ensure that staff are regularly trained in customer service best practices.
  3. Digitization: Invest in specialized banking customer relationship software for smooth, intuitive interaction.
  4. Customization: tailor your services to the specific needs of each customer.
  5. Rapid resolution: Address customer concerns as quickly as possible.

By following these steps, every interaction becomes an opportunity to strengthen customer faith and satisfaction.

1.integrate the omnichannel customer journey into your strategy

Integrating the omnichannel path is essential for a modern bank. This strategy involves delivering a seamless, consistent customer experience across all points of contact, whether physical or digital. It enables us to follow the customer's journey, anticipating their needs and meeting their expectations.

The use of omnichannel customer relationship management software facilitates this process, by centralizing information and guaranteeing continuity of service. By adopting this approach, banks can not only improve customer satisfaction, but also boost their overall performance.

2.continue to improve customer relations within the bank

Adopting a better bond with the customer goes beyond simply implementing new methods or technologies, it requires a cultural revolution. Banks need to move away from traditional methods and adopt a customer-centric mindset.

For example, by reinforcing in-house training and promoting open communication to create a culture of active understanding. This cultural change can lead to a significant improvement in customer loyalty and satisfaction, showing that success lies as much in shared values as in processes.

3 Making it easier for customers to do business with banks

In the digital age, users aspire to easier, more direct banking contact. Simplicity increases conviction, reduces frustration and encourages loyalty.

A streamlined, clear and hassle-free approach can directly influence the customer's decision, amplifying sales opportunities for the bank.

4.continue to innovate in customer service technology

Faced with the emergence of neo-banks, traditional banks are lagging far behind in terms of user understanding. And yet, initiatives do exist. With targeted investments in technology and training, these banks can redefine their relationships and bridge their receptiveness gap.

In our case study, we explain how digiCONTACTS implemented Vocalia, an interactive voice server for Société Générale, and its impact on customer relations.

5.communicate clearly and positively

Simplified, positive communication is crucial to strengthening the customer relationship within a bank. For example, by using clear, encouraging language to inform customers, which avoids misunderstandings and builds trust.

Case studies show that this approach increases customer satisfaction and retention. Adopting a positive, understandable tone not only helps solve problems effectively, but also enhances interactions, creating a more pleasant, constructive experience.

6.organize incoming requests and prioritize them intelligently

Prioritizing customer requests is crucial for any bank wishing to excel in customer service. For example, by setting up a sorting system that handles urgent requests first, improving user satisfaction in critical situations.

A recent study showed that a rapid response to priority requests increases customer loyalty and strengthens faith in the establishment. In this way, by assessing and responding appropriately to needs, banks can significantly strengthen their ties with their customers.

How do you deliver a quality customer experience?

Invest in customer relationship management software

In an increasingly competitive banking world, every customer interaction counts. So, to optimize these exchanges and ensure optimum satisfaction, it becomes imperative to invest in customer relationship management software dedicated to banks.

Firstly, a suitable customer contact management solution centralizes all customer information, making access to data quick and easy for bank staff. This centralization guarantees a coherent, personalized response to each user, reinforcing their convictions and loyalty.

What's more, the integration of IVR (Interactive Voice Response) technology adds a new dimension to user contact.

IVR software is a tool that enables users to interact with an automated system via voice commands or telephone buttons, offering 24/7 availability for certain common requests. This reduces waiting times, optimizes request management and enables better allocation of human resources.

In short, investing in customer relationship management software adapted to the banking world is a strategic decision to improve customer relations and stand out in today's banking landscape.

Our conclusion on banking customer relations

Over the course of this article, we've explored the vital importance of the customer-bank relationship. Whether through loyalty, understanding or the adoption of digital solutions, such as our contact center software for banks, the challenge is clear: build and maintain a relationship of trust with the user.

Prioritizing requests, communicating clearly and embracing omnichannel logic are all levers that can be used to stand out in this competitive sector.

For banks, it's no longer a time for reflection, but for action. Each institution has the capacity to transform its interactions and strengthen its ties with its customers. We hope these tips will help you on your way. Now it's up to you to put them into practice and reap the rewards of quality customer contact.