276) Digital Onboarding: Communication Keeps Customers

39min | 02/28/2023

Description

Digital onboarding, or lack thereof, is often an afterthought as financial brands chase new account applications. However, can banks and credit unions really label a fresh account as a win if all it does is collect cobwebs?

Laurie McLachlan, CMO at Digital Onboarding, Inc., thinks financial brands have an abandonment problem, and they won’t be able to fix it until they step back and accept it.

Laurie argues that throwing more information at account holders won’t cure attrition unless institutions help their clients understand it.

Join us as we discuss:

- Why most official account abandonment numbers are fickle (6:53)

- The difference between communicating and helping (16:23)

- How referral programs help build better relationships (32:17)

Check out these resources we mentioned during the podcast:

- laurie@digitalonboarding.com

- Laurie McLachlan

- Digital Onboarding, Inc.

You can find this interview and many more by subscribing to Banking on Digital Growth on Apple Podcasts, on Spotify, or here.

Listening on a desktop & can’t see the links? Just search for Banking on Digital Growth in your favorite podcast player.

Hosted on Ausha. See ausha.co/privacy-policy for more information.

About Banking on Digital Growth

If you’re part of a financial brand marketing, sales, or leadership team, you know the entire industry is in the midst of exponential change fueled by new technologies. Consumers now make purchase decisions long before they walk into a physical branch location, if they walk into a branch at all, while mobile banks, digital lenders, and fintechs have transformed traditional growth models rooted in legacy broadcast marketing and branch sales strategies.Get ready to gain practical insights, proven ideas, and empowering inspiration as financial brand marketing and sales leaders, along with the leading digital marketing and sales technology firms, share their stories to help you maximize your digital growth potential here on Banking on Digital Growth.

Hosted on Ausha. See ausha.co/privacy-policy for more information.

About Banking on Digital Growth

If you’re part of a financial brand marketing, sales, or leadership team, you know the entire industry is in the midst of exponential change fueled by new technologies. Consumers now make purchase decisions long before they walk into a physical branch location, if they walk into a branch at all, while mobile banks, digital lenders, and fintechs have transformed traditional growth models rooted in legacy broadcast marketing and branch sales strategies.Get ready to gain practical insights, proven ideas, and empowering inspiration as financial brand marketing and sales leaders, along with the leading digital marketing and sales technology firms, share their stories to help you maximize your digital growth potential here on Banking on Digital Growth.

Hosted on Ausha. See ausha.co/privacy-policy for more information.

Description

Digital onboarding, or lack thereof, is often an afterthought as financial brands chase new account applications. However, can banks and credit unions really label a fresh account as a win if all it does is collect cobwebs?

Laurie McLachlan, CMO at Digital Onboarding, Inc., thinks financial brands have an abandonment problem, and they won’t be able to fix it until they step back and accept it.

Laurie argues that throwing more information at account holders won’t cure attrition unless institutions help their clients understand it.

Join us as we discuss:

- Why most official account abandonment numbers are fickle (6:53)

- The difference between communicating and helping (16:23)

- How referral programs help build better relationships (32:17)

Check out these resources we mentioned during the podcast:

- laurie@digitalonboarding.com

- Laurie McLachlan

- Digital Onboarding, Inc.

You can find this interview and many more by subscribing to Banking on Digital Growth on Apple Podcasts, on Spotify, or here.

Listening on a desktop & can’t see the links? Just search for Banking on Digital Growth in your favorite podcast player.

Hosted on Ausha. See ausha.co/privacy-policy for more information.

About Banking on Digital Growth

If you’re part of a financial brand marketing, sales, or leadership team, you know the entire industry is in the midst of exponential change fueled by new technologies. Consumers now make purchase decisions long before they walk into a physical branch location, if they walk into a branch at all, while mobile banks, digital lenders, and fintechs have transformed traditional growth models rooted in legacy broadcast marketing and branch sales strategies.Get ready to gain practical insights, proven ideas, and empowering inspiration as financial brand marketing and sales leaders, along with the leading digital marketing and sales technology firms, share their stories to help you maximize your digital growth potential here on Banking on Digital Growth.

Hosted on Ausha. See ausha.co/privacy-policy for more information.

About Banking on Digital Growth

If you’re part of a financial brand marketing, sales, or leadership team, you know the entire industry is in the midst of exponential change fueled by new technologies. Consumers now make purchase decisions long before they walk into a physical branch location, if they walk into a branch at all, while mobile banks, digital lenders, and fintechs have transformed traditional growth models rooted in legacy broadcast marketing and branch sales strategies.Get ready to gain practical insights, proven ideas, and empowering inspiration as financial brand marketing and sales leaders, along with the leading digital marketing and sales technology firms, share their stories to help you maximize your digital growth potential here on Banking on Digital Growth.

Hosted on Ausha. See ausha.co/privacy-policy for more information.

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