Learn the critical importance for businesses to adapt to evolving customer communication preferences in the digital age.
How Banks Can Provide the Personal Touch as Their Workforce Becomes Increasingly More Remote
Provide the Personal Touch – at Scale
Today, consumers are migrating to online channels for day-to-day financial transactions, but when it comes to making important or complex financial decisions, they still prefer the ‘personal touch’. They want to engage with a banking expert to assess their specific needs, but staffing is expensive and following the pandemic, in-branch staffing is limited – a trend expected to become more permanent.
According to a McKinsey survey, 77 percent of employees-rising to 82 percent for finance-industry workers-have expressed the desire to continue working from home, larger percentages than prior to the crisis.
Furthermore, due to the pandemic, a vast majority of consumers have become reliant on digital interactions and many no longer feel at ease when visiting a branch.
How then can banks provide customers with the personal touch they desire without having to deal with in-branch challenges?
Modern technology can offer a perfectly scalable answer – personalized, interactive video. Banks can leverage the power of video to create engaging, interactive content that cost-effectively delivers personalized customer care and maximizes ROI at scale.
Personalized video is an optimal way to engage customers and has evolved to incorporate personalization and interactive engagement.
Interactive, personalized video gets the attention of customers and is ideal for use across the customer journey for onboarding new customers, delivering bills, statements and so much more!
Video visually engages customers and personalization is a powerful way to deliver information and offers that resonate.
The Proof!
72% of customers prefer to watch a video rather than read text to learn about a product or service.
90% of customers who receive a personalized video report greater satisfaction with, and a better understanding of, that company’s products and services.
Using a pre-defined workflow, video can:
- Simplify complex information
- Gather input
- Perform simple calculations
- Change the flow based on viewer’s input
- Deliver a customized offer
- Direct viewers to contact your team
Furthermore, you can design the workflow to suit your needs and to augment tasks performed by your in-person team.
It is evident that personalized, interactive video motivates customer action and drives conversions. Here are some results from our clients:
Top 10 NA Bank
Mortgage Applications
10x
Mortgage Applications
10x
Top 10 NA Bank
Card Applications
42x
Card Applications
42x
Top 3 LATAM Bank
Mortgage Applications
23x
Mortgage Applications
23x
Top LATAM Bank
Credit Card Upsells
8x
Credit Card Upsells
8x
Top 3 Global Credit Union
Mortgage Applications
>7x
Mortgage Applications
>7x
Large Canadian Bank
New Savings Goals
>4x
New Savings Goals
>4x
Learn how Doxim CCM Interactive Video can augment your operations, satisfy customers and boost your bottom line! Book a demo today
How are personalized, interactive videos created?
Videos are personalized in the same way an email or document is personalized. The individual’s data is inserted into a predefined workflow or template. This way, the video can address the recipient by name, provide information that is only relevant to that person, and take them on a customized journey.
Interactive capabilities let the viewer make selections to shape the flow of engagement-responding to questions, providing information (they can click a button or input data), and approving outcomes.
The end result is a highly personalized offer tailored to the viewer’s specific needs and choices. This is the digital, on-demand experience that consumers desire – and it also delivers excellent benefits to your operations and your bottom line.
Personalized, interactive video benefits both consumers and service providers
By using interactive, personalized videos to enhance customer experience, you can count on the following benefits:
- Augment sales and service teams to reduce cost-per-sale/service, while still providing a great CX
- Guide the customer on how to use other digital services, or connect with the appropriate customer service rep to resolve an issue before it escalates
- Gather in-depth information on how customers engage with the information in the video and use this information to refine future communications.
- Get a measurable, improved return on investment (ROI) based on increased customer engagement, conversion, purchase, enrollment, etc.
67% of customer churn is preventable if the issue is resolved at first touchpoint. Personalized, interactive videos proactively address churn triggers at every touchpoint.
$1/minute
$1 Call center services cost approx. $1/minute. In contrast, personalized, interactive videos cost-effectively scale digital customer service, providing personalized support and interactive elements for self-serve customer care
Doxim CCM clients can leverage personalized, interactive video technology to deliver engaging statements and communications
Doxim CCM leverages our client’s existing data to deliver personalized, interactive video experiences at scale. Unlike other bespoke and expensive solutions, Doxim CCM Interactive Video delivers low cost, 1:1 videos from a template that has proven to be effective and yielding maximum ROI.
The visual engagement and real-time interactivity made possible through video, provides the ‘personal touch’ that drives increased customer satisfaction, better engagement, and high conversion rates.
Doxim CCM Interactive Video is a must-have for any organization wanting to improve customer engagement.
Our Bloggers
Guest Bloggers
VP Sales, Financial Services North America at Doxim
Josh is a solutions consultant by nature, focused on identifying customer communication solutions for financial institutions.
In his position as Vice President of Sales (USA), Josh leverages his experience to understand the needs, and propose solutions, for customer communications management in credit unions and community banks.
Connect with me
Josh is a solutions consultant by nature, focused on identifying customer communication solutions for financial institutions.
In his position as Vice President of Sales (USA), Josh leverages his experience to understand the needs, and propose solutions, for customer communications management in credit unions and community banks.
Connect with me