Relationships Over Rates:

Why Personal Connection Is The Best Retention Strategy In Banking

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Forrester predicts 30% of customers will shift deposits away from their primary bank in 2024, pushing many banks and credit unions to consider more competitive rates and offers.

But, research shows it’s going to take more than just great rates to keep customers happy long term. They’ll need a thoughtful strategy that ensures customers feel valued at every stage of their journey. In this webinar, our guest speaker Alyson Clarke, Principal Analyst at Forrester, Aaron Young, SVP Retail Operations at CU SoCal and Coconut Software’s VP Product Eric Bin dive into one of the most overlooked tools to improve retention—building relationships.

What You’ll Learn

1

Why relationships matter as much as rates and fees to retain customers

2

How to build a business case to invest in long-term relationships

3

The most important milestones along the customer journey to create connection

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Section 1: Forrester’s Take on The Current State of The Market

  • 1a: The role emotion and empathy play in driving customer loyalty 
  • 1b: The hidden cost of self serve 
  • 1c: The role of branches and employees in driving stickier deposits

Section 2: A Round Table Discussions with Practical Solutions

  • 2a: Building the business case for investing in relationships now
  • 2b: Attracting and retaining customers who want more than just a great rate
  • 2c: Ensuring customer relationships don’t fizzle out over time 
  • 2d: Importance of making sure the value you promise is the value you deliver  
  • 2e: Emotions that matter most to create long-term loyalty 
  • 2f: Understanding how customers derive value to help your financial institution grow
  • 2g: Final thoughts 

“Banking is a relationship business and relationships actually matter”

— Alyson Clarke, Forrester

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