Banks Disclose How Mobile Technology Can Create More Profitable Customer Relationships

Mobile technology is encouraging more frequent visits and putting customers in control.  By improving the customer experience with technology (and other means), banks can create better, more loyal and profitable customer relationships.

We know that the banking sector is a popular industry today. It’s also an industry that comes with a great deal of risk. So it’s no surprise then that technology is changing the way this industry is ran and also how

So how are banks using this mobile technology to help them build their customer relationships? There are actually several ways in which this is being done. Taking a look at how mobile devices help us to build relationships with our businesses, we see that there is a rise in self service these days. People want to be directly involved in their own services and mobile technology makes that easier than ever before. For example, in banking you can check your balance, make deposits and more, all from your mobile device.

Customer insight and location-based services, innovating with social media and looking outside the box and finding new, unique ways to reach customers are all important ways that banks are reaching their customers.

Self Service is Important to Mobile Customers Today

This post from the Institute of Customer Service explains, Self-service is becoming an increasingly important delivery mechanism too, growing by 15% over the last year – and technology tends to form its backbone because there is an increased need to integrate the contact centre, website, branch and mobile channels.”

Here we see an example of what self service really means to mobile customers. People are on the go these days. They want to be able to do things for themselves and any services that stop them from having to go to the bank, stand in line or go through a drive through, make it even easier to be self reliant. If they can use their mobile device to quickly deposit a check directly into their account, for example, then they have saved time and done it for themselves.

Getting Social with It

How often do we hear about social media these days? It is truly everywhere but how much does it matter to the average bank user? You might be surprised to know it’s important than the average person thinks.

Banks now know that like many other industries, they need to reply to customers and interact with them on the platform that is most comfortable for them. This means if customers are on Facebook seeking help, the bank needs to be there to oblige. It’s the way of the world these days and companies who do not keep up will surely be left in the dark.

It’s very important that banks are involved in social media. They need to post, engage and interact with their target market and customers via social channels. Getting comfortable with this process is very important to the success of a bank. This is also one more example of the importance of going mobile, being that many people use their social media from mobile devices.

Top Tips and Thinking Outside the Box

Social media and mobile banking are just two examples of how technology is changing the industry and how you can think outside of the box to improve customer relationships. Some other tips include making the customer the center of everything that happens and also using technology today to enable customer interaction and relationships.

Banks can use the innovation in technology to help further their relationships with customers. This also improves the user experience, which creates more long-term, loyal customers.