There’s a lot more to a bank than “they keep your money safe.” Banks offer a lot in terms of value, but, fundamentally, they were built on valuing the client. That means helping people manage their financial situations both big and small.
FI’s help set up money market accounts, debit cards, credit cards, loans, mortgages, etc.
The question at this point should really be, “how do we let clients know?” Getting that information out there through the services you offer can be done in three simple, yet effective steps.
1. A Welcoming Email Series to Help Up-Sell
A smart, efficient way to help nurture and maintain customers is by sending automated emails that are unique to their situation.
Let’s say a client or member decides to apply for mortgage pre-approval, for example: If they’re a first-time homebuyer, it would be wise to send them an email thanking them for their business and welcoming them to the team. Follow it up with giving them insight into the homebuying process.
Here’s a sample of what it could look like:
Email Subject: Essential Tips for the First-Time Homebuyer.
Body: Entering the world of homeownership is exciting, and we’re thrilled to be on this new journey with you. Before you choose your home sweet home, however, there are some key things to consider:
- What can you afford?
- Make sure to consider your comfort level when calculating what you can afford.
- Make the home buying process easy by getting a pre-approval loan before you begin your search.
- Home Inspection
- Most times, purchase agreements contain a clause providing for a professional inspection of a home. Make sure you attend so you can ask any questions about the home.
For all your homeowner needs, XXX Bank is here to help. If you have questions, concerns or are looking to start your journey, contact us at XXX-XXX-XXXX.
It’s also important to provide solutions at your customers’ fingertips. Inserting back links and contact information in the appropriate areas will help build trust and incentivize them to act.
They might be coming to you for one particular service now, but this is your chance to open up the gates of opportunity for them for any future needs.
2. Cross-Sell Emails to Existing Customers or Members
The more products a customer has with you, the more sustainable the relationship is likely to be.
If customers already utilize your products, they already trust you. Now, building on that relationship doesn’t mean to offer them every product under the sun. To cross-sell successfully, you need to offer them products that hold value to their situation.
Start by asking a question from your client’s perspective, “What’s in it for me?” Why would this extra service be beneficial to them? You need to justify the reasoning.
Categorizing your customers makes this process easier. Using your client data, create lists based on products they do and don’t have. This could fall into categories like:
- Home loaners
- Savings only account
- Checking only account
- Car loan
If you can’t easily segment or create this audience list – then let them self-identify! When audiences sign up for a newsletter give them an option to choose topics they are interested in, for content you are actively creating for.
With segmented lists, you can send Homebuyers a HELOC or refi offer after enough time has passes to take advantage of their home equity.
3. Ongoing Email Distribution
Always keep your clients, members and potential audiences in the loop.
Ongoing emails act like cross-selling, but it focuses more on the content you generate versus products you offer.
An example of this would be utilizing your blog – or creating a blog, that educates your audiences on banking needs, functions of your products, and situations they would come in handy.
These kinds of emails can help:
- Generate interest in your services
- Demonstrate your knowledge in the industry
- Highlight your value to your clients
We recommend 1 – 2 emails a month at most as long as they are customized and tailored toward your audience segments.
Remain consistent in your delivery.
Give clients control on how they want to receive emails. Grant them preferences when they visit your website, or, if they already subscribe, leave a link that allows them to change their preferences.
Once you develop a system, gauge how you’re doing by analyzing your email’s open and click rates.
Make sure you give audiences a clear way to unsubscribe or to sign up for a different newsletter that addresses different topics.
As time moves on so will the needs of your audiences. Letting them pick a new topic can keep them satisfied while you retain the opportunity to connect.
Make sure you keep and build your opt-out list of low or unengaged contacts. This will let you focus on the active audiences.
Create Everlasting Value
You can offer your clients or members every product you have on the market, but nothing will stick unless you first offer them value. You know your client matters, just make sure they know it too. All it takes is a good reminder, or email in this case, to let them know you want to help them – whether it’s setting up a checking account or taking out a loan. Creating personal, thought-out solutions to potential headaches only further solidifies the relationship, and regular maintenance will keep it afloat.