The financial services landscape is shifting rapidly. Fintech startups and agile competitors are carving away market share of personal finance consumers from traditional financial institutions by offering hyper-focused technology, innovative products, and seamless services that meet highly specific needs. This…
As competition heats up in financial services, consumer loyalty matters more than ever. But what does true loyalty look like for a bank or credit union? It’s about more than just satisfaction. Taking steps to increase brand awareness, simplify the…
When a bank or credit union decides to offer insurance products to their consumers, they’re taking an important step toward increasing their non-interest income and improving their consumers’ financial health. But to ensure the time and money invested in insurance…
You’ve probably heard the one about the old-school salesman who swore by giving his first product away for free. Does this tactic still work? Every person who visits Costco “for the samples” is a walking testament. Such is the effect…
What does it mean to be able to serve consumers of all generations successfully? Do you have to find a different method or solution for each age range? Financial institutions typically offer services to consumers of all ages. As trends…
Banks use a lot of different third-party vendors to help fulfill the services and products they provide for customers. However, the compliance and security standards required for these vendors have increased exponentially since the beginning of Know Your Vendor regulation—and…
You’ve probably heard the age-old phrase, “Work smarter, not harder.” Financial institutions, like any other business, must be able to market their products and services to grow and succeed effectively. However, marketing new insurance products can be a time-consuming task.…
In the digital world, businesses need a solid online presence to be successful. Digital direct marketing allows you to reach a large audience with your message quickly and easily. But that doesn’t mean traditional direct marketing methods like mail aren’t…
Why Financial Institutions Are Focusing on Consumer Loyalty Over New Business Acquisition Financial institutions spend thousands to tens of thousands of dollars every year on attaining new consumers (an average acquisition cost of $200 per new consumer). However, in recent…
When economic times are tough, individuals and businesses alike suffer. As people tighten their purse strings, businesses are making less money on less necessary products and services such as travel. This means member retention and growth are more important in…