Driving Cross-Channel ROI

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When you walk up to an ATM the first few questions are typically for your language preference and what you want to do. Few users change their language preference, and most stick to their one or two favorite transactions, so the Q&A routine required by most ATMs consumes valuable time – and represents a valuable opportunity for the FI to engage the user in a dialogue.

If only the ATM knew a little more about you, maybe gave you a customized offer in addition to remembering your favorite transaction… if it was truly connected, maybe the offer could be based on your preferences. Only a few FIs lead in this market – one of the leaders starts with a welcome screen (after PIN entry) that offers favorite transactions. While processing the transaction, the ATM serves a custom offer to a coffee shop in the neighborhood and offers to email the receipt to the address on file. Later that evening, when the user is checking email he sees the receipt and a couple links with offers on the FI’s website. The clickthrough triggers a direct mail piece, a call, more targeted email or invite to a survey – essentially their current next step.

We posted an article last week discussing Effective eMarketing for FIs highlighting that now is the time to show true value – reminding customers/ members that you are more than just a safe repository for funds. Harnessing your information and leveraging cross-channel data can give your institution a smart, competitive advantage.

Even if you are not an FI, serving relevant offers, seeking more and knowing more about your customer is vital in creating a bond. Applying preferences can show how much you know and help you build trust as you mentor the recipient towards the end state – wouldn’t you think highly of a company that treated you this way?