Solutions

ViewPoint Bank engages customers thru Ignite Financial's Self-service guides
Volume 1 Issue 2November 10, 2006
» Self-Serve - Why is it suddenly so important and in such demand?
Sign up now to receive MoneyTrends right to your email box once a month and be the first to know. Stay on top of financial trends as they happen.
Your Name
Email Address
Many have heard of Attention Deficit Disorder, or A.D.D., but have you heard of T.D.D.? It stands for Time Deficit Disorder, and we all have it! In business and banking, the drastic shift to self-serve, when approaching sales and marketing, suddenly adds up.
Let's think about it for a moment. Today's corporations are faced with a business climate of ongoing demands for higher earnings, while reducing operating costs - all without compromising regulatory compliance or customer service. Employees of these corporations, are expected to operate successfully in an environment in which these seemingly unbalanced business practices exist. That same employee has equal demands at home, away from the office. Thus the most desired banking customer is put into the TDD category - over-worked, over-committed, and time-starved. Not exactly a breeding ground for growing deposits organically.
So, how can financial institutions effectively overcome T.D.D.? By implementing intelligent self-serve. The future is banking on it. Customers are expecting it.
Why self-serve? Trends across business channels show industries have turned to self-serve to creatively cut costs and boost revenue without surrendering time-honored service. Point-in-case, the travel industry embraced self-serve and now it is the new standard. Search for fares, compare options, purchase tickets, and now check-in -without ever speaking with an agent. This has become the preferred method for most travelers. As recent survey results show, customers prefer self-serve (fig 1) and are very satisfied (fig 2) with their experiences using self-serve.
93% choose self-serve over full-serve
Top 5 'musts' for effective self-serve
Self serve is delivering on the promise of reduced costs of service while enhancing the bottom-line. Banks offering Ignite's interactive self-serve solutions fulfill the top 5 "MUSTS" for effective self-serve. The chart below (fig 3) illustrates typical marketing results using only words to capture attention and action. The second chart (fig 4) highlights the overall improvement to the sales process and bottom-line using Ignite's intelligent interactive self serve guides. Experience has shown a lift from 2 out of 100 - the industry average - to 13 out of 100 with Ignite's service. An average improvement of 650%.
Industry conversion rate
"Any company that does not offer intelligent self-service options will be at a competitive disadvantage in its industry, from a cost structure and a customer stickiness and loyalty perspective."
Higher Sales, Lower Costs, Better Experience - Self-Service Promises it All
Banking Strategies Insights
June 21, 2006
When looking for a cure for TDD, intelligent self serve is a quick and valid prescription. Call to schedule a convenient and personalized demonstration. In minutes you will see how intelligent self serve generates leads and revenue for your institution. 972.789.5522.
The content contained in this news brief is drawn from Ignite Financial's anonymous database of thousands of unique visitors to various financial institution web sites. By collecting and analyzing online user data, Ignite instantly generates current reports to its clients without compromising the personal financial information of the individuals. Ignite's Customer Relationship Guides allow financial institutions to convert Web traffic to immediate revenue by matching customers with products at the customer's time of need, while also predicting future purchases using powerful, back-end marketing engines.

Previous Editions

November 10, 2006
Self-Serve - Why is it suddenly so important and in such demand?

August 28, 2006
Online Borrowers Are Surprisingly Conservative When Tapping Home Equity

The buck starts here »
Calculate Your ROI
Money Trends
click here to receive updates on financial trends »
© 2008 Ignite Sales