Ways Institutions Can Improve Acquisition Through Contact and Event Tracking

Financial institutions can implement solutions that enhance customer acquisition through contact and event tracking. Successful solutions leverage automation to track contacts from the prospect stage to the moment they become a customer. This tracking continues as the customer moves through various stages of the journey until the opportunity is fulfilled or, alternatively, dispositioned. These solutions route digitally generated leads that exceed configured propensity-to-purchase thresholds to bankers if the prospect is unresponsive to automated engagement and the product’s value is high. Additionally, they record contact information, activity, and regularly updated propensity-to-purchase scores, ensuring complete banker visibility regardless of customer channel choice and contact points.

Solutions can automatically move opportunities into a pipeline or progress them with a banker alert. Contact and event tracking is key to a robust customer experience across channels and from banker to banker. Examples of events that create valuable lead generation and relationship expansion opportunities include:

• Onboarding processes accumulate consumer or business information that bankers can use to explore future opportunities and growth.
• Campaign responses provide measurable feedback to quantify overall relationship health and identify customer interests and needs.
• Service events, such as changes in marital status or address, alert the institution to expansion opportunities and critical attrition risks.
• Survey feedback, both positive and negative, informs the institution of customer satisfaction and, when analyzed in aggregate, contributes to optimizing branch and contact center service, workflow, website intuitiveness, and overall customer experience.
• Goal-centric personal financial planners offer insight into evolving customer needs and how the institution can support them with educational content, products, and banking and advisory services.
• Human interactions allow branch and contact center staff to ask the right questions to better understand customer needs.

Data accumulated from these events drives actions that lead to success. For more information, download our interview: Creating Digital Revenue Streams through Customer Acquisition and Relationship Expansion