Big banks used to hold a monopoly. Now there are a variety of challenger brands in the game and the stakes are higher for all lending institutions when it comes to retaining loyal customers. So just why do consumers switch banks? Here we look at what drives banking consumers to jump ship and how can retail bank design help you avoid losing valued customers to competitors.
Customer service is key
What would you tip as the main culprit for customers switching banks? If you named high fees it is time to rethink. Good old fashioned customer experience tops the list of reasons customers may leave your bank in search of a different finance provider.
Digital banking channels are highly valued by consumers for ease and convenience. But banking clients still want to visit their branch for many reasons and when they get there, they expect a premium personalised emotional experience. Banking customers still want to be able to head to a branch and have face to face conversation with banking staff. They want a seamless service where their needs are met with precision instead of being bounced between numerous staff. They want a smart yet inviting atmosphere where digital technology enhances service, key service zones are easy to spot, wait times are minimal and staff are informative. Strategic Retail bank design delivers service that matches exacting consumer standards.
Improving the in-branch customer experience
So what will it take to make customers enjoy going to the bank?
- Digital and self-service convenience. Banks need to employ a range of technology solutions to provide full service at any time through tablets, video services, next generation ATMs/self-service and more.
- Foster community relationships as an ongoing priority.
- Have some sort of differentiation or distinctive assets – branches that stand out. Especially an appealing front of house. This will have a lot to do with design.
- Share a story, be personable. Flow this through all marketing and media.
What does all this mean for banks?
Retaining customer loyalty demands that modern banks must deliver superlative customer service at every touchpoint, both digital and in-branch. The better your customer experience, the more loyal your customer. Design Clarity are the experts in wielding retail bank design to drive customer loyalty through a superior in-branch experience. This specialist team integrates digital touchscreens, staff who are focussed on greeting customers, open spaces and much more. When retail bank design comes together as a cohesive equation, the results are powerful and customer loyalty hits new highs.
Want to see Design Clarity retail bank design in action? Take a look at:
