The first three months: retaining customers
The first three months of a new account make up the loyalty and cross-sell tipping point – and that’s why onboarding programs are fast becoming an industry standard in the new account opening process. But all onboarding programs aren’t the same, and many lack the elements that will prevent attrition and engender loyalty.
SourceLink’s years of experience gained through successful checking account acquisition, training programs and customer retention have allowed us to build a best-in-class account onboarding program for retail banks. Take a look at this proven process…
Analytics Accurately Predict Next Product to Buy
SourceLink’s new customer experience-based onboarding reinforces account value through relevant and timely communications and uses analytics to predict next most-likely product purchases. When the new account is checking, we promote account anchors (direct deposit, etc.) during the first 30 days. While engaged branch employees are critical to develop the relationship, analytically driven communications to new customers enrich those employees’ efforts.
Direct Marketing Deepens the Conversation
Once our program of cyclical direct mailings converts prospects to customers, the onboarding process helps employees identify each new customer’s preferred channel of communications. Then your branded, personalized multichannel communications continue to deepen the customer relationship – precisely because they are always timely and relevant. During this onboarding stage, your branch employees continue to put a “face” to the customer experience – adding personal, quality interactions to your mail and electronic communications.
Engaged Employees Cultivate Loyalty
From the intensive original training, your employees are armed with all the knowledge they need to cultivate and nurture the relationship. Your employees now provide the quality interactions at the branch level that consumers cite as the most important factors in remaining loyal to a bank. Now your employees are ready to become obsessive about the customer relationship, to reinforce your brand with every interaction – to master customer experience with complete competence.