5 Common Communication Mistakes Banks Make Today

Banking institutions are such essential parts of everyday modern life that it’s easy to forget that they operate in their own world, with very specific processes and terms. More often than not, these institutions assume that their audience understands the way they talk when they could actually be confused. When clients don’t understand what you’re talking about, or if they need assistance to help them understand your message, there is a drastic disconnect between you and your client.  Here are some of the most common communication mistakes that banks make:

Using financial jargon

This is one mis-step that many banks are guilty of. The vast majority of your customers are not well-versed in financial terms. These terminologies are often found in marketing messages, online banking instructions and even in online forms. Encountering complex words and processes can very easily put off clients from using specific services simply because they don’t understand what they do.

A similar concern involves unclear processes that can lead to more questions instead of answers. Make sure you include all relevant details, such as additional fees, and other conditions.

Not having an immediate resource for customer clarifications

It’s bad enough to have complicated terms and processes on a bank’s website, but more often than not these institutions also don’t give customers an instant way to clarify their questions. Having a Contact Us page isn’t immediate enough, so consider adding an easy-to-locate chat box that will connect customers with representatives. Another solution is to link complex jargon to pages that explain them in simple terms.

How do you give instant answers to customers who want to know which of your financial products or services are right for them and their current situation? An intelligent engagement platform such as DecisionHawk is the perfect tool to provide unbiased, accurate information that will ease their decision-making process. With DecisionHawk, you will help free them of the burden of too much information and too many choices, exceeding many of their expectations.

Inconsistent customer service between branches and online banking

Most all banks offer stronger customer service in their branches because customers can easily speak to a teller or representative in person. In today’s market, having the same level of customer service in your website is a must in order to satisfy the younger demographic.

Website visitors are just as likely to become your customer as those who drop by one of your branches to make an inquiry in person. Losing many potential customers is possible if website visitors are treated carelessly, especially if competitors are much more welcoming. Features such as instant voice or video chat can make a big difference!

Great customer communication is all about putting ourselves in their position and rethinking how they want us to communicate with them. Customers today approach banking the same way they approach most everything else — through digital means. When you optimize your bank’s website to help today’s increasingly digital audience and add innovative support features such as DecisionHawk, interactions with clients are smoother and quicker, helping to build their trust in you and your institution.

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