Transforming the World of Banking. Sponsored by

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1 Transforming the World of Banking Sponsored by

2 The Monumental Shift 2 When Joe wanted to meet with somebody at your bank, it used to be to do things like deposit a check. Today those transactions can be done without speaking to another human. Even in commercial banking the dynamic has changed. Joe is now researching and taking advantage of information and tools online. According to SiriusDecisions, 67 percent of the buyer s journey is now done digitally. 1 67% When Joe engages with your people, he is informed and looking for expertise to help him solve a problem or capitalize on an opportunity. This is a monumental shift in the dynamic. Joe is expecting a very different kind of customer experience from your retail and commercial bankers. of the buyer s journey is now done digitally. SiriusDecisions,

3 The Evolution Of The Banker s Role 3 Banks everywhere understand that a focus on products and transactions is a losing proposition. Alternative online providers have taken over that space, making it simple and more convenient to open an account, find funding, and more. Has this made banks obsolete? Absolutely not. Studies of human behavior show us that the more complicated a subject, the more likely a person is to want to talk to another human. Most people would put banking in that category. The more complicated a subject, the more likely a person is to want to talk to another human. But the prospects have a different expectation of this interaction now. Where once they settled for transactional help, now they expect insight and advice tailored to their situation. With the right tools, information, and analytics, retail and commercial bankers can meet the customer experience expectation. In fact, bankers can discover newfound success with prospects by delivering a new breed of insightful, intelligent interactions.

4 The Alignment Imperative 4 If a bank is going to meet the new customer experience expectation, then it s going to need to get sales and marketing in tight alignment marketing setting the expectation with the prospects and sales delivering on those expectations. Sales and marketing alignment is rapidly emerging as a priority for businesses across a wide array of industries. In fact, 42% of companies rank alignment as a top organizational priority. 2 And for good reason. When organizations are well aligned, they see: increase in annual revenue growth 20% 38% higher win rate and 36% greater retention 2

5 The Alignment Imperative 5 Lack of alignment results in missed opportunities. But there is more to the story. It can cause some unwelcomed side effects as well. For example: 60% to 70% of B2B sales content created by marketing is never used 59% of a sales professionals time is spent on non-selling activities 3 If you feel that you re among those that need to improve your sales and marketing alignment, just know that you re not the exception some surveys report that less than 10% of executives believe sales and marketing functions are tightly aligned. The bottom line is that there are hard economic reasons why you should align sales and marketing to improve your customer experience when your people are meeting and working with prospects.

6 What It Means For The Bank s Retail Division 6 Person-to-person interactions still matter even for those adopting the digital channels. According to The Future of U.S. Retail Banking Distribution from McKinsey & Company, Most intriguingly, digital channels have not replaced physical channels. Customers using mobile and online banking more than once a week are over 60 percent more likely to be active retail branch users than those who do not. 4 At the same time, the stakes are higher for those in person interactions. As the report goes on to say, So while customers have embraced multichannel access, they also expect higher value from face-to-face interactions at their bank branch.

7 What It Means For The Bank s Retail Division 7 That higher value will come from a customer experience that goes beyond transactions to deliver expert help in real time. That means using technology to: Access information and tools in a one-on-one setting Guide prospects to choose or even build a solution that 33% fits their specific needs Follow up with great information that is particularly relevant to each prospect in order to advance a sale or deepen the relationship And doing all this while aligning with and building on the promises delivered in the marketing efforts. Implementing this experience may have more immediate implications than banks realize. According to a study from Gallup, prospects who are thinking about opening an account but who need a nudge from the bank to take action account for 33% of bank sales. 5 Building this kind of customer experience can help you capitalize on business that is ready to convert. of account openings come from people who need a nudge from the bank to take action. Gallup,

8 What It Means For The Bank s Commercial Division 8 Commercial banking has traditionally been a more relationship driven business than its retail counterpart. According to a report from Gartner, In an increasingly digital world, face-to-face interactions continue to be a key part of sales and delivery in the financial services ecosystem. 6 But those interactions are changing. People expect expert insight and advice. This will require sales and marketing to align to build a position of advocacy and then deliver on it in the one-on-one setting with the commercial prospect. This business advocate will be ever ready with digital tools and information to help guide decisions. And through insightful analytics, be able to follow up with the right information to help a prospect make a sound decision. In fact, Deloitte s 2015 Banking Industry Outlook identified Leveraging digital technologies to elevate the customer experience in both business and retail banking as a key factor to drive growth. 6 The result of this new breed of engagement will be a customer experience that changes the prospect s mindset about the role and value of their commercial banker.

9 Are You Ready To Begin The Transformation? 9 What will make your retail and commercial bankers more successful? It will be meeting and exceeding the new expectations your prospects have when they are ready to engage. It will require a transformation to align sales and marketing. And it will require leveraging the digital tools, information, and analytics to deliver insight and advice that turns prospects into customers. The research shows that prospects are ready for this transformation. The only question is, Are you ready?

10 Transforming The Customer Experience Takes Chemistry 10 Chemistry is an easy-to-use, powerful sales enablement platform that helps your bankers be more successful by creating insightful, intelligent interactions.

11 Transforming The Customer Experience Takes Chemistry 11 Chemistry s integrated tablet and web features let marketers manage messaging while sales optimize engagements. The combination delivers powerful insight and efficiencies that drive better results. Marketers can deliver approved assets to the salesperson s tablet in real time utilizing a robust suite of web-based asset management features. This ensures brand and legal compliance. Plus the insightful analytics help inform the ongoing development of materials that customers find valuable. Salespeople can organize content based on their presentation style and prospect needs. Then, utilize the intuitive and easy-to-use tablet app to build rapport with customers, deepen conversations, gather data, personalize solutions, follow up, and more. It is a powerful tool that sales professionals want and love to use. To learn more, visit us at usechemistry.com and request a demo.

12 Sources 1 Three Myths of the 67 Percent Statistic, SiriusDecisions, July Sales & Marketing Alignment, Aberdeen Group, September From Enablement To Execution New Sales Principles To Live By, Qvidian, The Future of U.S. Retail Banking Distribution, McKinsey & Company, February Banks: Stop Missing Sales Opportunities, Gallup, May Banking Industry Outlook, Deloitte, 2015 Request A Demo Of Chemistry USECHEMISTRY.COM