Right before the pandemic, a vast majority of people were using a combination of traditional and Internet banking methods, but when the pandemic hit everything changed. With brick and mortar businesses shutting down during the pandemic it has helped to drive more customers online. Omnichannel marketing is the future of online marketing solutions especially for banks and financial institutions as it can help to sustainably grow in the market. With Omnichannel marketing, banks and financial institutions are able to build out a stronger relationship with clients thereby leading to greater growth in the future. Let’s take a look at understanding the major role that automation has played in omnichannel marketing.
Now, let us take a look at the significant role that Omnichannel Marketing will play in the future.
Success of the organization depends on a firm’s ability to attract, satisfy and retain its customers. Since Customers are the lifeblood of an organization, CRM plays an important role in modern business. When the data is managed by a CRM platform, organizations get a competitive advantage and understanding of their target audience, which eventually leads to much more aligned messaging.
Omnichannel marketing has helped banks in delivering streamlined services that are tailored towards the specific needs of a particular demographic or towards the needs of the buyer. Over the years, modern banks have worked on their relationships with their customers by communicating their points across by utilizing the correct communication channels. There are various Omnichannel marketing strategies that can help banks assist customers along every step of the journey. Some of the main types of Omnichannel marketing strategies that have helped banks assist their customers better are in quicker transaction processing and having an overall optimized customer experience.
Enhanced Customer Loyalty:
It is a well-known fact that Omnichannel marketing has helped to build trust in customers and enhanced customer loyalty within its customers. One of the prime examples of this has been HDFC bank, which has worked on their CX capabilities on their banking portal, web page, and mobile application. HDFC bank was able to capitalize on certain trends and helped to deliver an exceptional customer experience as a whole. Even during the peak of the pandemic, HDFC managed to successfully take care of the customer onboarding process.
Improved Customer Service:
In a time when customers are willing to go above and beyond for a better customer experience. Let’s consider HDFC bank again, during the pandemic the transition of front-to-back digitization happened in a rapid manner and helped to open up a whole new market of banking opportunities. It was observed that organizations that were capable of handling comprehensive customer service workflows received a higher customer satisfaction score compared to others. There has been an overall increase in the number of digital banking opportunities, along with handling comprehensive customer service.
Are you interested in improving the overall experience of your customers? Check out how RouteMobile can help build a better experience for your customers!
Also Read: Omnichannel Communication with SMS, Emails and Voice Solutions – Route Mobile
Overall Customer Experience & Satisfaction:
In this modern-day and age, BFSI companies have become pioneer implementers of AI, ML, and RPA as the overall useability has experienced significant growth. It has helped to leverage and deliver a superior customer experience. Automation has helped in cost reduction, compliance, and data security that have plagued the BFSI sector.
Better Overall Geographic & Demographic Outreach
India is the second-largest online market in the world, ranking only behind China, and has a mix of digital-first and native users. With online shopping and payments rising exponentially, there are third-party players which are on the rise such as eCommerce companies and online wallet platforms offering seamless payment experiences. As more transactions are happening online, customers do not feel the need of visiting the branch and depend more on online transactions, it is important to have a fantastic online experience for your customers.
Do you want to successfully achieve your business goals as mentioned above with Omnichannel Marketing? Reach out to us to learn more!