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Back in the old days banks interacted with their customers in the local branch resulting in a continuous dialogue with the bank. The conversation created a lot of natural sales opportunities for the banker. Today the vast majority of interactions between banks and their customers are through the banks' online banking system and ATMs. A revolution in convenience, speed, cost cutting and increased productivity. The downside of this development was the loss of natural sales opportunities as the dialogue between the bank and its customers disappeared – forcing the banks to accelerate their mass marketing activities to keep up the overall profitability.
Although all online banking systems are portals representing only the options that are related to each customer – the systems almost always deliver static and generic content to the customers when they are logged in. Some banks use banners inside the banking site to move customer attention on current campaigns, but most do nothing – leaving a huge gap with no natural opportunities to generate sales or servicing the customer better.
The relationship between banks and customers can be radically improved if it is based on the real-time needs of each customer. The Monoloop web service can help banks achieve this. It is now possible to adjust the messages to each individual customer in real-time depending on the customer’s behaviour on the site.
A feature like the Category Score can give the bank a real time picture of each customer’s current interests. Monitoring Category Score – the bank can trigger different call to actions depending on the customer’s current behaviour. If the customer seems to view a lot of content about house loans – Monoloop can trigger content that connects the customer with a house loan specialist in the bank via chat or phone. The bank may also offer some generic good advice for potential house owners that could be triggered for download or sent to the customers email. Using Goals, Monoloop could also create a lead in the bank's internal CRM system – so that the customer’s personal banker would be reminded to call the customer about the customer’s options – reestablishing the benefits from the old style conversation in the branch office and proactively reaching out to the customer with relevant content and suggestions. Simple initiatives to improve the service and the productivity of the bank at the same time.
The Category Score is only one of a variety of scores - including a combined Engagement Score that enables the bank to differentiate how they serve and treat their customers online. Monoloop contains many other features for enhancing the relationship between the two parties. You can not only increase the overall customer satisfaction by treating each customer individually, but you can also increase profitability by automation and structured cross selling of the entire product range.
Call us and learn more about how Monoloop can improve your business.