There is one constant in the financial industry: Change. Interest rates, banking products, and government regulations are subject to change quickly. Institutions themselves often are subject to changes. Some grow, some merge, others split. It can all be very tumultuous and potentially confusing for clients.
Once upon a time, I worked for a bank. If there’s one thing I learned, it’s that when clients are confused, they reach out to you, be it by phone, in branches, or online. You can’t blame them—financial institutions are holding on to their money, and they have questions. How can you make sure their concerns are heard and adequately answered?
- Inform your staff. Give staff members in facilities and call centers all the information they need to help clients. Whether you use traditional paper methods or computer based eLearning programs, if they’re not informed, your clients won’t be, either.
- Plan for web traffic. Is your website easy to navigate? It’s probably a good idea to place information about the transition on your homepage, making information easy to find. Be prepared to update your frequently asked questions.
- Make sure an influx of web visitors won’t overload your site.
- If you want to emphasize certain information about the transition, include audio or video to explain it. Duplicate audio content with a transcript, for searchability.
- Create web tutorials that explain the changes. You can create one by compiling screen shots, images, and information into a slide presentation. Again, transcribe for searchability.
- Prepare your phone system. When financial institutions have transitions, one of the first places they include new information is on the phone.
- New names can be introduced by IVR Systems
- Messages On Hold explain changes in more detail.
- The information you present in your on hold marketing should be the first step of client services.
- Frequently asked questions and common concerns should be addressed.
- Be sure to tell clients how to get more information: by asking a representative, looking online, visiting a branch, and any other options
- Use a Survey to check on the level of service your representatives are providing.
How do you know what questions your clients will be asking? First, make a list of questions they asked last time you had a policy change or merger. Next, record questions your employees ask about the upcoming changes. Anticipate as much as you can, but remain flexible. Don’t forget the power of audio in explaining new information.