This One Word Determines Where People Buy Financial Products

Brief Summary of Episode #39

Can they trust you?

Your customers don't care about your commoditized products or your branch sales strategy.

Instead, they want to know that you respect them and then that you love them.

What bridges the gap between respect and love?

Trust.

In today's economy, you have to develop trust with a digital-first mindset. That's because in 2020 you must establish trust long before a consumer comes into a branch.

You can build trust with your customers in 2 ways.

1. Communication

You build trust by what you say.

1. Action

You build trust by what you do.

The key here is empathy.

How can a banker show empathy?

Start by understanding that customers buy with their hearts not their heads. Their feelings and emotions drive their decisions.

To access people's emotions, we need to understand how the human brain works. Then we use that understanding to help our customers experience the feelings and emotions they seek when they engage with us.

To get to the feelings brain (called the limbic system), we go through the reptilian (or survival) brain. It's the part of the brain that determines whether or not the customer *trusts* you.

Key Insights and Takeaways

• The three levels of connection in all human relationships
• The two ways you build trust
• How to use neuroscience to increase customer loyalty to your financial brand