2016 is looking like a breakthrough year for #FinTech, where institutions of all stripes ranging from money mangers, banks and credit unions are upgrading to serve their new digital customers.
It’s all about digital customer acquisition. Who’s got it and who doesn’t?
Financial institutions are taking cues from other industries using customer-centric apps, tools and platforms that simply make life easier.
Or as Jim Marous says, technology is “…removing friction from the customer journey” turning financial decisions into a virtual trip to the finish line.
To get an idea of how this change is orchestrated, take a look at this graphic from Kyle Nakatsuji’s guest spot on the CBinsights blog. Kyle goes deep on insurance distribution trends, but I think this diagram can morph to many financial services.
The two big takeaways:
- Expect “…continuing development of online agencies, including mobile-first channels…”
- Turn your customers questions into solutions/revenue using “..incidental sales platforms.”
All Roads lead back to digital customer acquisition: Invite Education fits right into the new paradigm with simple strategy. Families engage your white labeled platform via the web or mobile and gain answers to all the normally expected questions. “How much will it cost?” and “Can I get Admitted?” are the billion dollar questions being solved everyday, but it does not stop there. Real college questions take more than one moment to solve. It takes follow-up, grade-by-grade, to piece together a strategy building up to high school graduation and beyond. Simply dropping information on a family during Junior/Senior year of high school is not a plan, and introducing financial products out of context to a family’s actual needs creates frustration. Instead, a more tailored approach is in grasp by building the audience your firm already has access to, but until now had less to offer. Yes, your digital customer is looking for answers. Instead of referring them to Google and your competitors, refer them back to your own program and pick up their email address for followup as you grow with their financial needs.
Are you ready to take the next step in your digital customer acquisition strategy?
Join our next demo and learn how Invite Education makes all the difference: