Virgin Money got some well-deserved attention this week for its new UK retail space, which features bowling, air hockey, pool, and other lounge elements to redefine the banking experience. In an industry often seen as stodgy and old-fashioned, Virgin Money did the unthinkable – it made banking fun. So, whether you’re planning your own exciting new branch […]
7 Novelty Experiences for Retail Banks Read More »
When researching the rash of stealth attrition currently unsettling the financial services industry, we collected lots of data about consumers’ banking habits, preferences, and behaviors. We’ve already broken that data down in several ways to highlight different things – for instance, we broke down the types of customers most likely to switch financial institutions to highlight their reasons for leaving
Breaking Down the Customer Loyalty Pyramid Read More »
Building a stronger connection with banking customers is crucial to maintaining their loyalty, and yet, this is often a difficult task since each customer has unique attitudes and needs. In SLD’s research on stealth attrition, we identified three levels of engagement among customers, based on their connection and involvement with their primary bank, ranging from low to
Build Stronger Relationships with These Three Customer Types Read More »
When you are embarking on any kind of change for your financial brand, regardless of the degree it is critical to get a good understanding of where your brand fits into the industry landscape. One of the most recognized tools to create this view is the SWOT analysis. We often get asked questions about how
The Importance Of SWOT Analysis for Financial Services Brands (Free Guide) Read More »
One of the top five things people want from their banks is advice on how to better handle their money. But although banks offer such services, consumers, especially Millennials, are not actually asking for this advice. This CGI report puts banks at the bottom of the list people turn to for consultation when making a
Why Customers Aren’t Asking for Your Financial Advice Read More »
In a competitive banking landscape, it is often difficult to stand out and truly connect with customers. Financial services are challenging to promote. They are complex and mostly conceptual, and can lead to financial institutions all seeming the same. Branding can help solve these issues. It can differentiate a financial institution by expressing an identity
Three Visual Strategies to Connect with Banking Customers Read More »
We recently spoke at the BAI Beacon conference held in Chicago about the work we completed for Regions Bank, a large regional bank with roots in Birmingham, Ala. The conference was well attended by more than 1,500 bank leaders and executives covering a wide range of relevant topics providing insights into what is top of
Brace for More Changes in the Banking Industry Read More »
As a bank executive, one of the most urgent matters you face these days is how to update your business model to address the dramatically changing behavior of your customers. One important insight you already leverage is that you understand your customers well: modern banking customers expect service that is personalized, efficient, and immersive, and
Three Strategies Banks Can Learn from Specialty Retail Read More »
Millennials are entering an important life stage for banks as this segment of the population is starting to build wealth while driving potential sales growth in financial products and services. As Millennials provide banks with continued growth opportunities, banks must understand their needs and expectations in order to create a strong affinity with these future wealth generators.
Banking on the Ultimate Millennial Experience Read More »
Picture this: dozens, maybe hundreds of people walking aimlessly, their eyes glazed, looking down, oblivious to the environment that surrounds them. No, this isn’t the next zombie apocalypse blockbuster, it’s the scene common at any grocery store, shopping mall or bank branch — everyone staring at their mobile phone. This generation of consumers could be
Six Ways to Overcome the Mobile Zombie Apocalypse in Bank Branches Read More »
