[Editor’s note: This is a guest post from direct response marketing veteran Mike Gunderson. He founded Respond Fast™ in 2018 to create the first Voice Activated Call To Action™ (VACTA) technology using smart speakers and digital assistants to respond to offline media campaigns deploying direct mail, TV/radio spots, print ads, collateral, billboards, signage and product label/packaging. VACTA enables banks to easily set up and launch a campaign using a custom phrase or code for frictionless consumer response.]
Digital banking is all about making customer experiences faster, easier and more engaging. Voice response marketing through smart speakers and digital assistants is increasingly the go-to bank marketing channel for “on-the-go-go-go” consumers.
Make it frictionless
To access financial and account information, respond to calls to action and offers, register reviews, handle transactions or reach out for help, voice response marketing is gaining in popularity. Instead of having to type in a website URL, focus on a QR code, or click on a text link, all of which can cause respondents to procrastinate, the frictionless availability of smart speakers and digital assistants encourages in-the-moment action. That can make the difference between closing a sale and losing the prospect altogether.
Consumers reach out to Google Home, Alexa, Google Assistant and Siri to get what they need more often and easily every day. Maria Allen, Unisys Vice President Global Head of Financial Services, describes digital banking that occurs “anywhere, anytime, on our own terms,” in her article entitled, “Embedded Banking: The Future of Digital Transformations.” Voice response marketing is truly driving banking that’s anywhere, anytime on consumers’ terms.
Here are 7 ways voice response marketing can favorably impact digital banking experiences:
1. Make it personal.
Customers today expect simple, personalized experiences that align with the frictionless nature of voice response. A recent Forbes.com article addresses the issue: “One regional bank realized that its new customers felt overwhelmed by the multitude of potential products and offerings. It redesigned its onboarding journey and incorporated a ‘Help Me Decide’ tool, which asks customers a number of questions about their individual needs and then generates a set of customized recommendations based on their responses. The personalized nature of these suggestions makes customers feel more competent and confident in their decisions, leading to a 4x increase in the number of new customers who actually complete the application process.” [Read more…]