ABA Banking Journal
No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
SUBSCRIBE
ABA Banking Journal
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
No Result
View All Result
No Result
View All Result
Home Retail and Marketing

4 Ways to Keep Customers Loyal

February 11, 2016
Reading Time: 4 mins read

By Hillary Kelbick

Keeping customers happy, loyal and committed is a lot less expensive than replacing them with new ones. So investing wisely in and focusing on continually improving customer experience will have a positive ROI and long-term brand benefits to your bank!

The good news is you don’t necessarily have to allocate big budget dollars. Here are four strategies you can start implementing right away to increase customer loyalty.

1. Take a closer look at your onboarding process—even if you don’t think you need to.

“You only get one chance to make a first impression.” Hard to argue with that, isn’t it?  Which is why the new account opening process is such a cornerstone of most customer experience strategies.

The interesting thing is, there seems to be a major disconnect between customers and banks on how well our industry is doing with onboarding. If you ask bank executives, many will tell you they’re doing pretty well. But according to a recent study by Greenwich Associates, which provides market analytics for the banking industry, only 31% of customers nationwide felt that their representative had completely identified their financial needs at account opening.

So basically, two customers out of three think you can do better!

Most likely, your customers are simply expecting more than you think. The standards of customer experience are now being set by the likes of Apple and Amazon. Customers see how easy it is to work with leading innovators like these, and they expect the same intuitive ease and convenience from all the companies they do business with. What was acceptable five years ago just doesn’t cut it today. The bar is higher.

So take a fresh look at your process from a customer’s point of view. How can you streamline the paperwork and make account opening less tedious, whether online or in person? What cross-sell strategies are you missing? Who follows up with new customers, and how soon? What kind of accountability and metrics are in place to assure proper follow-up within the first 90 days–a critical window for new customers? Remember, banking can be viewed as a zero-sum game, so when you lose a customer, it’s another bank’s gain.

2. Extend the customer experience philosophy throughout your entire organization

When you start to strategize about enhancing your customers’ experience, you naturally target your customer-facing employees and processes. Makes sense, right? They’re the front line, the ones who make the magic happen. But limiting your audience in that way is missing a big opportunity. You’ve got to make this clear to your entire company: When it comes to customer experience management, we’re all in this together.

Don’t just focus on your branch and call center staff. The fact is, your back-office staff have as much to do with improving the customer experience as your tellers and branch staff. But they may not think that way. So it’s your job to convince them and reward them for it.

Include your back-office staff in training sessions whenever it’s appropriate. Make sure they are included in your internal communications and progress reports. Reward outstanding examples of back-office staff going the extra mile on a customer’s behalf. Make them feel included, and you will reap the rewards.

Compliance staff should be part of this effort too. Take it from a marketing agency, there’s no quicker way to improve your business-as-usual communications than a compliance team who finds ways to accommodate a more positive customer experience!

3. Make problem resolution less of a problem.

Fixing customer issues and complaints is another hot-button issue. And it’s an important one. But once again, a deeper dive makes a difference.

It’s all well and good to sensitize your representatives to customer dissatisfactions, and to encourage them to take ownership of problem resolution whenever possible. These are smart first steps. But do you also have a feedback loop in place, so your representatives can communicate back to the area where the problems originated? How good is your bank at making sure these problems don’t happen consistently?

Keep in mind that one solution does not fit all. You may need to tailor your problem resolution strategies for different segments to make sure your response is appropriate for each group.

Remember, the only thing better than fixing a mistake promptly is never making it in the first place. A company-wide approach to customer experience management gives you tools to make that happen.

4. Improve your end of the conversation.

What’s the end result of all this effort? A more personal, one-on-one relationship with your customers, who feel their needs are being heard and met. So when a customer picks up the phone, visits a branch, or starts on online chat, make sure your staff has the tools on hand to respond personally. For example, if you send a letter describing a price change, make sure everyone in the call center and the branch has a copy of the communications along with key talking points about the change. If you’re sending customized messaging that’s adjusted to different customer segments (which earns you a silver star, by the way!) make sure your staff can quickly locate the text of the letter sent to each customer. The last thing you want is for your rep to ask, “What does your letter say, exactly?”

None of these steps are hard, or particularly expensive. But together, they can make a big difference in your customer loyalty and commitment levels—and ultimately, your bank’s earnings. Done properly, well-conceived and executed customer experience management programs always have a positive ROI. It’s one of the smartest, most cost-effective ways to build customer loyalty and open new revenue opportunities.

Hillary Kelbick is president of MKP communications inc., a New York based agency specializing in financial services marketing and merger communications. Email: [email protected].

Tags: Advertising agencyCustomer loyalty
ShareTweetPin

Related Posts

Survey finds many bank customers use gen AI, but don’t trust it

Survey finds many bank customers use gen AI, but don’t trust it

Newsbytes
September 1, 2026

Deloitte survey finds that while most bank customers use generative AI to research bank products, they hesitate to share personal info with the technology or trust its recommendations.

Bank marketing’s essential role in successful branch expansion

Retail and Marketing
August 31, 2026

Banks have opened more than 1,000 new branches annually over the last three years. This new branching boom presents a great brand and marketing opportunity.

FTC seeks to enforce business disclosure of personalized pricing

FTC seeks to enforce business disclosure of personalized pricing

Compliance and Risk
August 26, 2026

Businesses that fail to disclose that they use consumer data to set personalized prices for goods or services are likely engaging in deception or unfairness and can expect the Federal Trade Commission to pursue enforcement actions, according to...

From the Vault: Traveler’s checks and creative destruction

From the Vault: Traveler’s checks and creative destruction

Retail and Marketing
August 19, 2026

The first recognizable traveler’s check was issued in 1772. Why did they disappear?

Cost of funds shoots to top of community bankers’ concerns in 2024

Survey finds most consumers want to maintain bank branch access

Community Banking
August 14, 2026

U.S. consumers want digital banking convenience but also want to maintain access to bank branches and people for complex issues and personalized financial guidance, according to a new survey by Santander.

Banks, Sports Sponsorships and COVID: Three Ways to Win

The new playbook for banking athletes

Retail and Marketing
August 10, 2026

An ABA Banking Journal series explores how banks are adapting to the financial needs of student athletes, professionals and the sports industry around them.

NEWSBYTES

FCC releases draft order to protect fraud alerts

September 9, 2026

Fannie Mae, Freddie Mac expand VantageScore availability to all lenders

September 9, 2026

Hill: FDIC on track to issue stablecoin rulemaking by year’s end

September 9, 2026

SPONSORED CONTENT

Banking Technology at a Strategic Crossroads

Banking Technology at a Strategic Crossroads

September 8, 2026
Taming AI Agent Sprawl: A Playbook for Consumer Lending

Taming AI Agent Sprawl: A Playbook for Consumer Lending

September 1, 2026
Grow Public Deposits Without the Operational Burden End Fragment

Grow Public Deposits Without the Operational Burden End Fragment

September 1, 2026
Could Your Bank Absorb the Hidden Cost of Running Legacy Systems?

Could Your Bank Absorb the Hidden Cost of Running Legacy Systems?

August 20, 2026

PODCASTS

Podcast: Banking the brave new world of college athletics

August 4, 2026

Podcast: Tactics for meaningful strategic planning

July 28, 2026

Podcast: Why it might be time to revisit a key FDIC ratio

July 23, 2026

American Bankers Association
1333 New Hampshire Ave NW
Washington, DC 20036
1-800-BANKERS (800-226-5377)
www.aba.com
About ABA
Privacy Policy
Contact ABA

ABA Banking Journal
About ABA Banking Journal
Media Kit
Advertising
Subscribe

© 2026 American Bankers Association. All rights reserved.

No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive

© 2026 American Bankers Association. All rights reserved.