Confession: I haven’t been in a bank for several years. At 57, I transact all of my bill payments from my laptop, on my smart phone and do most deposits through apps or ATM machines. Most of their other customers do as well. If your customers have roamed to the internet, maybe you should follow them before your business runs out completely.
I spoke with a bank president suffering declining traditional business. “I have challenged my staff to find ways to make people come into the branches to do business with us.” He said, “That way, we can hook customers into buying more services and banking products.” He just doesn’t get banking in a world of computers and busy commerce.
More people and businesses today are banking online, doing traditional business on the internet and using applications on their smart phones in seconds, to do what took an hour or more (counting drive time) to come into a bank and wait in line for “the next available manager.”
Rather than attempt to attract customers in to bait them with more business, he is trying to inconvenient them into showing up in his lobby. That doesn’t mean they won’t be back; it means they won’t be coming in like they did before. When they do, you have to make the experience unique and beneficial to them.
A bank director in Illinois told me how his bank designed their lobby to accommodate people who didn’t want to hike all the way through and open, useless area to get to a real person for service. They added comfortable chairs and WIFI for customers to relax and do other business on the premises.
What are you doing to respond to customer needs and trends? What value do they want that you could be, but aren’t delivering in a timely manner?
If you aren't now, someone else will.