I’m a strong believer in “Omnichannel” experiences, which foster emotional and human involvment. Digital only is not wrong I’m sure, but it’s dangerous to take out the human component. In this recent article by McKinsey they highlight what omnichannel can move within the retail banking business.
There needs to be a thorough understanding of the roles of channels within a successful omnichannel strategy –
While digital channels have transformed banking in many respects, and customers have embraced it, most sales, whether in the branch or on the telephone, still involve human interaction.
They see a number of key factors important which banks need to develop to make the jump into true omnichannel distribution
- advanced analytics and granular customer data for better targeting
- marketing personalization across channels, based on data-driven insights into customer activity and sales journeys
- a motivated sales force, equipped with the tools to operate in an omnichannel environment