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Banking on Digital Growth Podcast

You’re Not Selling Financial Products, You’re Selling Shortcuts

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Brief Summary of Episode #314

Customers at your bank or credit union are making more and more of their buying decisions outside the normal confines of the traditional buying process.

It used to be that financial brands held all the cards when it came to introducing a product, educating a buyer on it, and then selling that product.

The internet changed all that, and now more than 70, sometimes 80% of buying decisions for a financial product are made before a customer ever sets foot inside your branch, if they even visit a branch at all.

The rise of 3rd party opinions on what consumers should spend their hard earned money on can be a boon for your financial brand.

All you have to do is have your website control the narrative.

So many bank and credit union websites are overly complex and filled with puffery about how great their products are.

Let other people and resources do the talking for you.  

The social proof aspect of it is key in today’s buying process.  Involving a rating system whether internal or external, can have a great impact on your customers’ confidence and trust in your institution.


Key Insights and Takeaways

  • How content fuels your bank’s digital growth engine (4:16)
  • Mapping your buyer’s journey so you are a guide, not a seller (8:07)
  • How ratings, especially from 3rd parties, can help you take control of the buyer journey and increase your credibility (14:49)
  • Making value added your number one priority like Amazon (17:31)