In the fast-paced world of banking, acquiring new customers is essential for growth. dacadoo, a leader in Digital Health Engagement Platforms (DHEP), has outlined eight key strategies that combine both traditional methods and digital innovation to help banks attract and retain customers. These approaches focus on creating meaningful interactions, improving customer experiences, and building strong brand loyalty.
1. Digital Marketing
A strong digital presence is crucial for modern banks. Launch or refine your digital marketing strategy by focusing on both paid and organic channels.
Optimise your website, keywords, and backlink profile to improve search engine rankings and increase organic traffic. Leverage social media platforms to share valuable content, engage with potential customers, and raise brand awareness.
Additionally, launching targeted PPC (pay-per-click) campaigns allows you to reach prospects actively searching for financial services, driving qualified traffic to your website.
2. Referral Programs
Turning satisfied customers into brand advocates is an effective way to grow your customer base. Studies show that referred customers make 31%–57% more referrals than non-referred ones. Develop a simple and rewarding referral program that encourages existing customers to recommend your bank.
Offer meaningful incentives, such as cash bonuses, waived fees, or exclusive services, to motivate customers to refer others. Make the referral process seamless by enabling it through digital channels like email or mobile apps.
3. Promotions and Offers
Promotions and special offers remain one of the most powerful customer acquisition tools. Attract new customers with enticing offers like welcome bonuses, cash rewards, or waived fees. Create urgency with limited-time promotions and personalise offers based on data insights to appeal to specific customer segments.
Consider using tiered promotions that cater to various customer preferences and monitor the performance of your offers to continuously optimize your strategy.
4. Community Engagement
Active participation in the local community helps build trust and familiarity with your brand. Engage with potential customers by sponsoring community events, supporting local initiatives, and collaborating with nearby businesses.
Demonstrating genuine care for the community not only raises brand awareness but also fosters strong customer relationships. Hosting educational programs, such as financial literacy workshops, positions your bank as a trusted advisor and builds long-term connections with customers of all ages.
5. Partnerships and Alliances
Forming strategic partnerships is becoming increasingly important for banks looking to expand their customer base.
Collaborating with organisations that complement your services can help you reach new markets and offer innovative solutions.
For instance, partnering with a digital health provider like dacadoo enables banks to offer holistic services that combine financial planning with health and wellness solutions. These partnerships enhance the customer experience and provide valuable insights for future customer acquisition strategies.
6. Online and Mobile Banking
In today’s digital age, a seamless online and mobile banking experience is a key driver of customer acquisition. Invest in user-friendly platforms that offer essential features such as account management, transfers, and deposits. Ensure that your app is secure and easy to navigate, as this builds trust with potential customers.
Consider enhancing your digital banking services by integrating value-added features like budgeting tools, financial planning resources, or health and wellness options, which appeal to customers looking for comprehensive financial solutions.
7. Customer Experience
Exceptional customer experience is a significant differentiator in the competitive banking landscape. Banks that provide personalised, responsive, and empathetic service are more likely to attract new customers.
Train your team to deliver exceptional service at every touchpoint, ensuring that customers feel valued and supported.
Going beyond basic service, create strong brand experiences by helping customers achieve their financial and non-financial goals.
By integrating wellness programs like dacadoo’s DHEP, banks can show a commitment to their customers’ overall well-being, making a lasting impression.
8. Competitive Products and Rates
Offering competitive financial products and rates is essential to capturing new customers. A survey by Deloitte found that simplicity, cost, and product variety are the top factors influencing customer choice.
Ensure that your bank provides a diverse range of competitive products and services tailored to different customer segments. Continuously monitor market trends and adjust your offerings to meet evolving customer demands, helping you stay ahead of the competition.
Read the full blog from dacadoo here.
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