WHITEPAPAER
Exploring One of Banking’s Big Mysteries. Reduced branches but no parallel digital services revenue increase?
Where do the missing customers go? Digital service revenue fails to replace the drop in branch sales. We probe this industry-wide dilemma in our latest whitepaper and show you how customer segmentation and digital funnel optimization will help generate revenue from your bank’s digital services.
Download the ‘Digital Services: the Banking Industry’s New Problem Child’ Whitepaper
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10
%
Retail banking sales in 2021, digital channels not fully making up for the drop in retail banking branch sales.
40
%
Financial services growth leaders generate 40% growth in digital channel, as part of 10% total sales increase.
Source: Best of both worlds: Balancing digital and physical channels in retail banking McKinsey
WHITEPAPAER
Is Your Bank Experiencing a Gap Between Digital Services and Revenue?
The data points to high customer demand for digital banking services, but only a fraction go on to open accounts digitally, which lowers digital revenue generation. A problem impacting many Technology & Marketing leaders in banking, we explore a few reasons why here.
Improper perception of the purpose and potential of digital services, offering it only as an industry norm to keep up with competition
Digital expectations of customers in terms of simplicity, convenience, and trust not properly met
Little to no cooperation between tech, marketing, customer experience and other relevant functions in providing digital services
Whitepaper Preview
Whitepaper Sneak Peek: Customer Segmentation & Digital Funnel Optimization to Fix the Revenue Disconnect
Our whitepaper shows you a tried and tested solution, which involves personalizing banking experiences for specific customer segments while treating digital services as a sales tool. The infographic explores a framework to do so beautifully, the famed AARRR pirate metrics framework. Our unique interpretation of it also adds customer segmentation to the mix.
What Everyone Does
One-size-fits all marketing and messaging for all banking customer segments
Bank uses the portal only as a platform to provide traditional services digitally
Spend on traditional and digital marketing to promote digital banking, without using in-app messaging and the like to grow digital services
What Very Few Do
Very few treat their digital banking services or portals as a funnel to personalize customer experience and fuel digital service growth. But when done right, it works on autopilot to grow your bank’s digital business. Here’s one of our investment banking case studies to show you how to treat the top of the funnel!
Beta Launch Business Knowledge
Business Knowledge for Tech and Marketing Leaders
Our Business Knowledge section explores pressing issues, critical insights, and practical solutions for the financial services industry, essential for technology and marketing leaders to differentiate themselves while helping their organizations grow. Access all our banking and finance related articles and whitepapers inside.
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The Balancing Act: AI-Based Legal Services vs the Human Touch
In recent years, the legal landscape has witnessed a notable transformation with law firms increasingly turning to digital solutions to...
Can Poor ‘Productization’ Stop Clients from Consuming Legal Services Digitally?
Productizing legal services is a well-established concept in the legal profession, shifting from traditional one-to-one consultations to...
Whitepaper Download
Download Your Copy of the ‘Digital Services: the Banking Industry’s New Problem Child’ Whitepaper
As explored so far, the widening gap between digital services and revenue generation continues to worry decision-makers in banking. Don’t get left behind offering digital services only because your competitors are. Instead, absorb its potential to grow banking revenue effortlessly.
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