Gain and Grow Customers

Improve your conversion rates and deliver a more personalized experience for accelerated revenue growth.

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Are you attracting the right customers, or enough?

 

Low market share and customer growth

When the onboarding process isn’t as simple as customers would like, they’ll often give up – making it harder for you to achieve your desired revenue growth.

Symptoms

High drop off rates:
a high volume of people who abandon the product origination process.

Low digital account sign-ups:
there’s a lull in the amount of people interested in signing up digitally.

Poor customer acquisition growth:
year on year growth in acquiring customers is declining or below industry benchmarks.

Causes

No digital origination journey:
the sign-up process for products isn’t available on a digital platform, forcing customers to visit a branch.

Fragmented services:
there’s a siloed offering of services, making it difficult for customers to navigate and for your employees to track.

Ratings and reviews:
customer’s feedback isn’t as good as your competitors –so new prospects are put off.

Effects

Higher costs:
it costs you more to acquire new customers.

Lower revenue:
if there’s a low number of customers signing up, your revenue will likely suffer.

Low number of products held per customer

Fragmented journeys and poor user experience makes it hard to keep customers engaged – let’s delight them, so they come back for more.

Symptoms

High drop off rates:
a high volume of people who abandon the product origination process.

Low cross-sell and upsell:
unable to meet targets when trying to sell existing customers more products.

Less products per customer:
customers aren’t interested in building their product base with you.

Causes

No digital origination journey:
the sign-up process for products isn’t available on a digital platform, forcing customers to visit a branch.

Poor user experience:
the digital origination journey has too many steps, making it time consuming.

No personal touch:
there isn’t a tailored experience in your digital channels – 88% of consumers want their banks to provide guidance based on their financial behaviors.

Effects

Lost revenue:
if it isn’t accessible for customers to sign up for more products, they’ll likely go elsewhere.

Higher churn:
customers who only have one product with your bank are likely using other financial institutions to meet their needs.

Low customer lifetime value:
customers aren’t sticking around for the long-run.

Continue transforming your engagement banking vision into value

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Discover how you stack up against industry leaders

Take our free Engagement Banking Impact Scan as the first step towards transforming your engagement banking vision into true business value.

Get a clear picture of how your bank ranks against the industry’s best
— and uncover areas that can optimize business performance.

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ebis scan - Gain and Grow Customers

Value Insights

Check out our blogs, reports, whitepapers, and more. They’ll give you actionable insights into how you can transform your engagement banking vision into business value.

Contact us

Interested in turning your vision into tangible value, but unsure of where to start? Schedule a chat with a consultant today.

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