How 2012 Banking Can Improve – Channel Management

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The link between a client and the banks products or services is closed tighter by smart channel management, which represents the key towards bringing the major elements of a bank together. With little to no changes expected in client usage and an across the board trend of below average client satisfaction, a challenge for most banks comes from call centers. Survey rankings that exceed 4 on 5 comes from internet and mobile banking services, two channels that are rising quickly over interaction preference of branch banking.

Banks are using social media to communicate their values on trustworthiness, commitment and loyalty, which comes from incentive plans for fans, friends and Likes on their pages (depending on the platform) to participate in the social media experience.

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Action Plan
Step One – Improving overall performance in these mediums and channels involves understanding exactly how often customers bank, which products/services they search for while banking and how they bank.

Step Two – Client satisfaction can be improved by using the intelligence and developing pricing strategies that attract customers, creating a user experience that is consistent across channels, determining which channels work for each customer segment and finally ensure that the channel choice is aligned with service delivery.

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To conclude, the bank of the future needs to customize its approach with satisfaction across all channels by improving sight gathering techniques from within or via an outsource partner. The survival of the banking industry will go to the deliverer of the very best custom service channels and superior segmentation.

Sahlique Sultan is Managing Partner of N'eco's Natural Store & Cafe and holds a masters degree in sustainable business management from the American University of Paris.