“What’s in it for me?”
This could very well be the first question a customer asks when a financial institution announces a product conversion or merger with another company. This is likely followed by confusion, anxiety, and—in some cases—anger. So how does an organization diffuse these feelings? Timely information and transparency is key for conversions and merger success.
Usually, a product conversion or merger success is driven by an institution’s ongoing effort to better serve customers and their changing financial needs. When it comes to finances, we understand this kind of change is not easy for many people. But if we show an evolution of our products and offerings through clear and insightful communications, they will see the change is to their benefit. It’s also an opportunity for us to build credibility and trust with the new customers.
Those customers may have varying financial needs and ways of consuming information. How can WordCom and other companies help them cut through the clutter and understand the benefits born from such change? Create proactive channels (FAQs, social media, product conversion guides, etc.) to inform people of changes before they become issues, and build in a process that allows for timely responses to concerned customers.
Product conversion communications are a tremendous opportunity to demonstrate an institution’s ongoing effort to better serve changing financial needs. Timely and effective communication is key to successfully connecting and retaining customers.
We believe that a successful transition actually makes customers more loyal and aligned with our products and brand. In the end, all this outreach is designed to retain customers and strengthen their relationships with their new bank.
Interested in talking with us to learn more about how your company can drive conversions and create a mergers success? Contact us here today.