The context? Over the past two years, digital technology has accelerated in the daily lives of French people and a new generation of consumers is emerging. Today, absolutely everything can be regulated digitally: the subscription of an online offer via an electronic signature, the exchange with a virtual advisor via emails, applications that offer all the functionalities that were used in an agency...
The consequence? The acceleration of digital technology is now depriving insurance companies and banks of the human services they usually provide. This evolution has a direct consequence on customers: they are afraid that the offers will become more and more standard and they are losing trust in establishments.
What's at stake? Banking services that incorporate a human and personalized touch today are much more likely to create trust and generate growth. When the customer is most often at the center of the attention of establishments, humanization is a strategy that should not be overlooked in marketing campaigns.
Does that mean anything to you as a consumer?
In general, the consumer of 2022 is no longer who he was... yesterday. More than ever, consumers are more and more concerned with their purchases and service subscriptions. His leitmotif about his expenses: they must make sense!
The consumer actor is a new generation of consumers who need accurate information on the brand, product or service before launching. The phenomenon of social reproduction is becoming less and less true, everyone wants to form their own opinion.
- Why is he so curious? He became a committed judge and was very sensitive to brand ethics and responsibility.
- He also likes co-design and especially trusts his consumer-actor community.
- He will give more interest to a testimony and an experience rather than to a corporate communication announcing a special offer.
What are the expectations of the new generation?
“At present, 50% of consumers say they interact with their bank via a mobile application or a website at least once a week, compared to 32% 2 years ago. ” (stream)
This study distinguishes four main types of consumers based on specific criteria: ease with technology, consent to the sharing of personal data and preferences for interacting with banks:
- The pragmatists : they understand change and trust new digital channels.
What's at stake? Do not disappoint them and thank them for their trust.
- The traditionalists : they are not convinced by new technologies and would like to continue to have the most human contacts.
What's at stake? Demonstrate that despite the use of technology, the channels used still offer a human and personalized relationship.
- The pioneers : they will be your best ambassadors, they love to test new features and do things before others. I bet they were the first to choose the option to pay with their phone and were very proud to use it.
What's at stake? Broadcast your news to these pioneers in advance, why not create a community bringing them together and create a positive momentum around your new services.
- The skeptics : they are and will be (almost) always. They are wary of banking institutions.
What's at stake? Show that your number one priorities are them, the customers.
In addition to these different profiles, it is important not to forget the significant common point of this post-covid period:
- The loss of trust due to a decrease in “real” contacts and the fear of being awarded a contract or an offer that is not adapted to one's situation...
How do you reach new consumers and differentiate yourself from the competition?
The solution to meet new challenges and overcome the growing loss of consumer confidence in banking institutions can be summed up in a nutshell: the humanization of exchanges.
To achieve this objective, we suggest that you think about a 4-step strategy :
Step 1: Study the typical profiles of your targets
Thanks to this article and your experience dealing with customers, one thing is certain: it is necessary to change processes according to your types of customers. We then advise you to carry out a study of the typical customer profiles of your agency. This will allow you to find a direction for your strategy.
👀 For example : your number one objective of your strategy is to put the customer at the heart of your strategy and to make them feel that you are present at their side (despite the mostly digital exchanges).
Step 2: Define the various contact points during the customer journey
Typical customer journeys are emerging. It is important to note all the points of contact with them, not to mention the strengths but also the points of friction. Think of contract anniversaries, but also problems related to a direct debit, the payment of interest or the fact that they advised you to a friend.
👀 For example : One of the recurring paths you noted when acquiring new customers is when someone comes to take out a mortgage with you. Following this, this person (who will be called Julien) transfers all his accounts to your bank and is hired for several years at your side. You know that it can be a stressful and complicated time, logistically as well as emotionally. Your number one objective was to prove to him that you are by his side today, but also tomorrow.
So... how do you get this message across to Julien?
Step 3: Get off the beaten path to get your messages across
Your brand identity is strong and your commitments to your customers are affirmed. It is therefore important that your strategy is similar to you in order to get your messages across to your customers. So no, sorry, an email is no longer enough! The consumer needs something else... A “thing” that you are sure he will take into consideration, a communication channel that will get your message across powerfully.
👀 example : To get your message across (the one in the example in step 2 with Julien), we first recommend that you optimize your opening rates. How? Choose a channel that gets more than 90% openness and that creates real emotion in the person who receives it. Then, the message (and its support) must create an emotion to increase memory and the productivity effect that this will have on your customer. Finally, this message must contain your message (obviously, you will tell me) but not only... it must encourage Julien to do an action that you have determined!
Step 4: THE SOLUTION: create hybrid marketing campaigns
- The medium that has an opening rate of more than 90%: offline!
- The medium that creates a strong emotion in its recipient: offline!
- The medium that contains your message and leads to action: offline!
As you will have understood, the solution to get your message across is to send a physical object to your customers.
👀 For example, to continue Julien's story, he will be delighted to receive a small gift following his mortgage.
- This gift could be a box containing a tea bag, a pack of cookies and a cup personalized with his first name. Not to mention a postcard announcing to him: “Thank you for your trust, rest assured, our team takes care of everything (such as communicating to your employer, EDF,... your change of bank for transfers or direct debits); so take some time to yourself by enjoying a well-deserved snack.”
- This gift could also be a relaxation box with candles, incense, tea and an eye mask. Always the same message and the same card: we take care of everything, relax!
Don't forget to offer “an action” to those customers who have received your message. Why not encourage them to:
- join your community of borrowers who share advice,
- to share their experience in a short video,
- to subscribe to the Information Newsletter,
- to give your opinion on their bank (preferred),
- to sponsor a friend,...
This idea is great... but how can you easily implement it?
Adding offline to your marketing and customer experience campaigns is not easy. It is necessary to think about the strategy, to find suppliers, to determine your budget, to buy gifts, to create the boxes, to send the packages to your customers...
In short, many handling steps that it just seems impossible to do when you have thousands of customers (like you)!
💛 We suggest you select a hybrid marketing solution that allows you to automate the sending of your physical messages throughout the customer journey. The applications allow you to connect to your CRMs so that at each key stage, a gift is automatically sent to your customer.
All you have to do is define the key moments when to send physical messages and determine the composition of the box. For the rest, hybrid marketing applications take care of absolutely everything (even measuring your campaign ROI).
