Pub. 9 2021 Issue 2

utah.bank 30 Source: IQ Analytics by Ignite Sales Using guided product self-selection, new customers choose the correct products 98 percent of the time. Turn passive users into active engagers Even as you build out digital products and services, you want consumers to be active engagers of your online tools. Accenture’s Technology Vision 2020 Report reveals a key tech trend is to help people choose their own adventure. To redesign digital experiences with new models that turn passive audiences into active participants by “transforming one-way experiences into true collaborations.” Charidy and Thomas have a 401(k) retirement account, but that’s all. Their initial digital conversation informs us they are interested in other wealth management options to secure their future. They would like information on where to start. One of the best ways for financial institutions to increase engagement is with tools that enable people to discover ways to grow their financial wellness. From a how-to video on improving a credit score, to an online class on how to save for a home or launch a small business, the tools you provide customers and members will motivate them to seek more of your services within those sectors. It also inspires them to reach out about other options, especially once they know you have more useful services. These initial conversations have the ability to create revenue, because you’re showing them answers to questions about things they want to accomplish. Even if they’re not ready to commit today, knowing their future needs will let you start that conversation at just the right time. Charidy and Thomas have a detailed financial plan that affects all aspects of their lifelong journey together. They live in the present and look toward the future . The predictive capabilities you need to help them reach their goals and diagnose problems and challenges along their consumer journey comes from continued on- and offline engagement. In doing so, you win Charidy and Thomas’s trust loyalty and respect Mapping the digital consumer journey Consumers are passionate about maintaining financial wellness as their lives change and evolve. Financial institutions that fail to provide the digital tools and platform to automate, simplify and satisfy growing demand for 24/7, year-round personalized service risk losing the loyalty and trust of customers and members to institutions that do. have not mapped their customer’s financial Journey Source: Lay, Robert James, “How to Create a Digital Brand Strategy for Optimal Growth,” Digital Growth Institute, 2019

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