The uncertainty that engulfed us due to COVID-19 has given rise to an unforeseen world that’s virtually online. As per the statistics revealed by World Retail Banking Report 2020, a total of 57% of consumers choose internet banking in the COVID-19 era.
It has also been revealed in a BCG survey that 63% of the respondents have opted for a cashless way of dealing with their customers and have reduced their reliance on cash ever since the initiation of the crisis. The survey further revealed that as many as 43% make the most of social media messaging apps to send across payments.
It goes without saying that the future belongs to digital banking. As the situation slowly and gradually becomes under control and comes back to another new normal, contemporary banks will tend to modify their banking practices and make sure that they adapt to the new digital world while revolutionizing their website to begin with.
What is Lead Generation?
In marketing terms, lead generation is the instigation of consumer interest or inquiry into specific kinds of products or services of your business. As far as lead generation is concerned, it makes the most of digital channels, and has been successfully undergoing revolutionary changes in the contemporary world due to the immense rise of new online as well as social techniques.
Why is Lead Generation So Crucial in the Banking Business?
While keeping in view the fact that the buying process has transformed, banks are on a lookout for new ways to keep up with their buyers and most importantly to make their own mark in the competition. Rather than finding a variety of customers with lots of advertising that will need so much budget, banks should focus on making their own position and also learn to build persistent relationships with customers.
10 Different Ways Banks Can Generate Leads
There are so many different ways for banks to successfully generate new leads and some of the prominent ways include online resources, networking, direct mail, and most importantly referrals through banks can successfully reach a larger audience and flourish their business by leaps and bounds.
Letโs have a look at the top-10 digital lead generation tactics that banks can leverage in the modern world to their benefits while making sure to successfully grow their banking business.
1. A High-Quality Website is a Must
It goes without saying that visitors to your website should successfully be able to find information in a quick succession of time most importantly when they are your potential clients. Whether they wish to open a checking account, initiate a line of credit, or want to invest in a certificate of deposit, it is crucial that you must have the useful information available right on your site.
The main purpose behind the aforementioned fact is that the hassle-free you make it for anyone to become a client; the more apparently they can convert into one. Keep in mind if something isnโt easy to do, folks wonโt do it. Therefore, it is essential that you offer as much quality information as you successfully can, most importantly when you are operating in such a competitive sector.
2. Integrating a Co-Browsing Software
It is also worth mentioning here that co-browsing software can modify the way users can easily view your bank’s clientโs experience. Quite easily, co-browsing is undoubtedly a user-friendly interface that can skip barriers right between customers and also the support agents who need to assist them.
Letโs say if a consumer logs onto your bank’s mobile app or a website and unfortunately faces some hurdle on the payments page. In this scenario, the agents can easily offer assistance through some visual clues and also start a co-browsing session right away. Moreover, the best part is that they can easily take over the consumerโs browser and easily interact with them on-screen, that also, in real-time to easily highlight and also draw features that can easily indicate the very next steps.
Moreover, the co-browsing software has also got everyone covered in other cases as well such as reduced query resolution time and also enhanced chances of lead generation. Besides, rapid issue qualification and issue assessment can result in more efficient help. Furthermore, customers will also not leave the site and opt for external apps.
3. Make the Most of PPC Advertising
You can make the most of PPC advertising to ideally reach potential clients. This can easily allow you to successfully target customers who are really interested in your products as well as services.
Besides, there are also several ways for banks to successfully generate new leads. While making the most of online resources, efficient networking, direct mail, and most importantly referrals, banks can successfully be able to access audiences in-large and their business. Make the most of PPC advertising to usefully supplement your lead generation efforts and ideally reach even more potential clients. Make sure that you ideally use PPC advertising and all of these several other marketing strategies to successfully diversify your customer base and thus generate leads as a result.
4. Individual Pages Optimization for Relevant Keywords
Make sure that every page on your website should pay attention to one keyword so as to easily show up well in search engine results pages (SERPs). Regardless of the fact as to whether the keyword is โcontact usโ or โopen a savings accountโ depends wholly and solely upon you, however it is more crucial that you make the most of specific keywords on various pages.
The question arises at this point is what are keywords and the precise answer would be that they are words or phrases that folks use to easily find information on search engines such as Google.
It should also be kept in mind that longer keywords are usually more specific and easily reflect someoneโs intent to successfully convert. On the other hand, shorter keywords tend to be vaguer however attract more traffic.
Generally, itโs far better to make the most of long-tail keywords as theyโre usually less competitive and rather more specific to your niche. Make sure that you add those keywords naturally throughout your text. This will easily help Google and certain other search engines comprehend what your page is about, and it will also make your page convenient for visitors to read.
5. A/B Testing and Service Pages Go Hand-in-Hand
In case you are wondering as to what is A/B or split testing, you should know that this is the process of easily comparing two different versions of the same entity and in this specific case a website. While successfully measuring the real difference in performance and also optimizing impacts depending on the customer’s behavior and also preferences.
On the whole, all you need to do is successfully give one version of the web page to another group and also another version to yet another group. The basic aim is to completely comprehend how each variation functions.
In the case of a Banking institution, the sole purpose of A/B testing your Services pages and also your homepage can easily deliver unimaginable impacts. While keeping in view the fact that the desired person represented on the home page completely differed depending on where the lead came from, the website should have plenty of landing pages to create more and more A/B tests.
6. Make the Most of โCalls to Actionโ
If you want to make more and more sales, itโs really crucial to effectively use calls to action right in your marketing materials. As far as a call to action is concerned, it is a phrase or sentence that ideally encourages customers to usefully take a specific action. Some of the common calls to action would be to visit our website for further information, call right away for a free consultation, download our free white paper and easily sign up for our mailing list to name a few.
When you make the most of a call to action, youโre obviously letting it be known to your customers as to what you want them to do. This will easily make it convenient for them to ideally know what they wish to do when it comes to what they are buying from you. Also, make sure that you use clear and concise calls to action in all the marketing materials, and see how conveniently it is to enhance your sales conversions.
7. Creating Social Media Accounts is the Way to Go
Social media is undoubtedly the new hang-out, and you definitely have to be there if you wish to be seen.
Owing to the fact that banks are regulated, you might be really hesitant in the bygone days to join Facebook or Twitter. However, things are the other way around these days as you can easily sign up for social media too within banking regulations. Besides, as long as you interact with folks without opening any personal or business information, youโll obviously be okay.
Social media is undoubtedly the best place to successfully announce new deals from your bank and you get to know some really interesting statistics about your sector, graphics youโve established, videos youโve filmed, and even more. It is also worth mentioning that not everyone who comes across what you post can become a customer; however, itโs an amazing way to successfully attract new attention.
8. Email Marketing can have Wondrous Outcomes
Email marketing is undoubtedly the most efficient form of marketing in terms of ROI. If you want to get some of those returns, you will definitely start marketing today.
The important factor is inquiring for visitors to your website so as to submit their email addresses and most importantly if you can easily contact them later.
The moment you have their emails; you can easily start using lifecycle email marketing to usually make them into potential customers. It may take some time however this kind of lead generation has the real potential to usefully pay off really big time with respect to new customers and growth.
9. Blogging can be Game-Changing
Blogging essentially requires sharing your useful knowledge with others and also talking about the ongoing events.
There are loads of articles you could easily write for those in search of financial advice like how to budget for a new car and comprehend how CDs work, and most importantly when to take out a personal line of credit.
Make sure that you can create a diverse list of 10 to 20 ideas and create a blog post calendar for the next month or so. This will easily help you write some new blogs in time when it comes to publishing them right according to your schedule.
10. Mobile Optimization Pays Off
While keeping in mind that banking websites are mostly renowned for being slow to load and usually operate at stone-age speeds, you should make sure that this kind of slow as well as unpleasant service is kept at bay as it is definitely not in line with the present-day digitally-savvy customers.
You must make sure that the mobile version of a bankโs website easily determines its search rankings based on mobile phones along with desktop.
Wrapping Up
While keeping in mind the dynamic innovation and a flawless, customer-driven online experience, it will be more efficient if we opt to use core banking technology. This can easily make logical as well as business sense owing to the innumerable folks that are a greater proportion of the worldโs total population that are using the internet worldwide. When it comes to lead generation, the aforementioned tips and tricks that are mentioned above are definitely the way to go.
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