Revolutionizing Customer Acquisition in an Omni-Channel World

In today’s financial landscape, the primary driver for senior leadership has shifted dramatically. According to a recent Gartner survey, 49% of executives now prioritize growth, while only 14% name cost management as their top concern.

But in a world where consumers expect digital convenience alongside a human touch, how do financial institutions (FIs) achieve that growth?

The New Pillar of Success: Staff Integration

The transition to an omnichannel delivery world has changedthe rules of engagement. It’s no longer enough to have a digital presence and aphysical branch operating in silos. Success now relies on seamlessly embeddedstaff integration.

To drive growth, bankers need a 360-degree view of allcustomer activity—whether it originated online or in person. When a banker canperform any function—from sales to service—based on a holistic view of thecustomer’s needs, the FI moves from selling commoditized products to creatingmeaningful revenue streams.

Navigating the Shift in Consumer Preferences

Financial institutions often lose personal interactionduring the early "awareness" and "consideration" stagesbecause consumers are doing their own online research. To counter this, FIsmust respond with digital-based automation.

Key strategies include:

• Data-Driven Engagement: Using lead generation details, service events, and friction signals to drive timely outreach.
• Automated Decisioning: Routing high-value opportunities to staff while using digital self-service for lower-propensity prospects to keep marginal costs low.
• Frictionless Fulfillment: Ensuring that once a customer decides to buy, the process is easy and provides immediate access to a person if needed.

The Omni Advantage

Improving acquisition success comes down to six key factors:

• Enhanced customer experience
• Improved response cycle time
• Earlier prospect detection
• More accurate prospect identification
• Probability-based propensity qualification
• Improved engagement timing and relevance

By integrating automation with a high level of human touch, FIs can meet consumers in their preferred channel, optimize resource use, and ultimately increase revenue.

Ready to dive deeper into the strategies for growing your revenue streams?

Download Growing Revenue Streams through Customer Acquisition and Relationship Expansion to learn more about digital sensory needs detection, the power of self-service financial planners, and advanced pipeline management.