It’s time to rethink your bank branch experience
with Next Branch Strategies. Here’s why:
To Build Opportunity, Build Interactions
When foot traffic drops, so does opportunity. Without face-to-face interaction, banks lose one of their most potent sales tools. When you transform your bank branch you turn every in-person customer relationship into an opportunity to build loyalty, educate consumers, and upsell your products.
Reach Your Most Valuable Customers
Provide a welcoming place that tells your customers you understand them. A place where they can learn about banking services that can really help, in an environment that’s tailor-made to meet their heightened expectations of custom service.
Your Competitors Are Already Doing It
The market has shifted. If you are not adopting a customer-engagement program designed to offer integrated banking services in real time that will engage customers at the moment of need, you are about to be left behind.
We’re ready to start helping right now
Next Branch Strategies is ready to bring our expertise, experience and ground-breaking thinking to bear on your branch strategy. We can help you take advantage of assets you already have in your community to transform your bank branches into lifestyle centers, education centers, and best of all, profit centers.
Let’s start by re-thinking they way banks work.
We put in place a phased approach to take to you from assessment to execution at an accelerated pace.
Instead of waiting for two years to see your ideas come to life, Next Branch Strategies delivers actionable,
customer experience innovations in a matter of months.
Banking is Belonging
Before we begin, we look at the relationship you have with your banking customers. We ask a lot of questions to understand your operational landscape. Where does the branch bank fit in the customer equation? What percentage of sales are conducted online? What percentage of closing happens in the bank? What’s the local competition doing? We’ll prepare a report that drills down on your core competencies today, and suggests opportunities for innovation in the next five years.
Banks are generic. Regulatory compliance has come to mean conformity. Blame the Fed. Or work with Next Branch Strategies to stand out, differentiate your services, and build customer loyalty. We employ design thinking methods to focus on a customer-centric solution. We conduct focus groups with customers, interactive deep dives with key executives, and brainstorming sessions with your team to uncover and highlight opportunities, directions, and undiscovered customer needs. Our goal is to help you define the pillars of a new branch experience.
Pressure-Test Your Ideas
Now we begin to test the core elements of the value proposition. Does your offering resonate with your customers? To get the answers we build prototypes and pop-up banks you can take to county fairs and malls. We observe consumer interactions so you gain real world insight into what consumers actually do (as opposed to what they say they do on a survey). Rapid prototyping techniques enable us to test ideas, gather feedback, iterate, revise, and improve.
Rapid, Real Results
Based on everything we’ve learned, it is time to roll out your ideas in the real world. We put together realistic schedules and real world budgets. We work with your operations team to develop new routines and train staff. When your branch concept involves building or renovation. we’ll help you hire an architect to build out the physical elements, a general contractor who understands quality doesn’t have to be expensive, and quantity surveyors who can provide insights into the cost implications of your strategy. We’ll develop an actionable budget and a timeline that coordinate staffing, training, marketing and legal. It’s how we turn concepts into action.
Why Change? — What Experts Are Saying
Empty Branches Impact Sales
The drop in foot traffic at branches is a fundamental digital-age hurdle for branch revenues. In itself, the change is not so bad—ATM and digital transactions are cheaper for banks to execute. The problem lies in the declining number of face-to-face customer interactions, which translate into fleeting customer relationships and reduced cross-sell opportunities. Getting real about branch transformation - 2015
Retaining Your Best Customers
Banks are not meeting the needs of affluent customers, the least- satisfied segment. Expectations for personalized experiences are high among affluent customers, and banks have not provided a differentiated experience to meet those expectations. 2014 U.S. Retail Banking Satisfaction Study
Don’t Miss the Boat
Market leaders, inside and outside financial services have already made the shift … They have adopted integrated, real-time approaches to engage customers at the moment of need and deliver a carefully designed experience consistently across channels. Financial services in a converging, human-centric world” 2013