Why Customer Success Executives are Critical for Digital Bank Sales Success May 8, 2017January 31, 2019 Q2 Why Customer Success Executives are Critical for Digital Bank Sales Success When we started this journey in 2013, before Q2 Gro was a company, we thought of digital sales platforms as the third wave of digital banking. First there was online banking, then mobile, now digital sales. In some ways, we were right. But we underestimated how dramatic the impact of digital sales platforms would be for banks and credit unions. The digital disconnect. Banks have invested heavily in developing and marketing digital products and services and have been successful in moving 85% of transactions from the branch to digital channels. However, 80% of new account sales still come from their branches even though banks have moved to marketing through digital channels. Why would a prospective customer come to the branch to act on an interest sparked by a digital ad? We dug into it and learned that while banks were using enticing cash offers in their marketing campaigns with great success, more often than not the offer required the prospective customer to open the account in the branch. It seems so obvious to link a digital offer to digital account opening; however this is not being done. When banks do it right, moving to digital sales affects everything. We spoke with our customers and prospects and found great interest in expert assistance to evaluate how the bank or credit union should evolve to better align sales and marketing efforts and how to prioritize it all. We’ve also heard that this lack of guidance is one additional explanation for why 80% of bank sales transactions come from the branch, even if the bank bought one of the solutions from the first wave of online account opening. Use our success coaches. Gro has put together an expert team of Customer Success Executives, each with 20+ years of banking experience, to help FIs make the transition to a digital sales platform. We’ve trained them on what we’ve learned so far, and they have access to cutting-edge proprietary metrics that provide empirical data on what choices are driving our customers’ success. Furthermore, we’ve setup programs so banks and credit unions have access to these executives throughout the lifecycle of using our products. We believe bank sales growth is an evolutionary process that should be continually evaluated and tweaked to optimize growth. As this space matures, more best practices will arise and customer behavior will change. We think banks and credit unions should reevaluate their campaigns frequently to maximize their customer growth and share-of-wallet. Our Customer Success Executives are also available to banks and credit unions that aren’t customers. Let us know if you’d like to setup a time to speak with them about how your institution can sell more products and attract more customers. Happy Selling.