Podcast: Why banking is emotional and not transactional

Feeling all the feels this holiday season? So are your customers and members. Why? Because they’re human. And here’s the kicker: those humans are emotional 365 days a year. So, at the start of a new one, perhaps it’s time your financial institution takes a closer look at investing in their financial well-being.

To help get you started, CRMNEXT’s Banking On Experience brings you not one, but twoexperts on the subject: Jennifer Robison, Senior Editor and Anson Vuong, Managing Partner- both at Gallup. So, what’s covered?

Why this Topic?

“Any customer who walks into a bank is coming loaded with the most visceral, deep-seeded emotional needs that they will have in their lives,” says Jennifer. According to her, the only other profession that is as meaningful to people is doctors. Says a lot, doesn’t it?

Studies have determined that about 70% of decisions are made emotionally, versus 30% made rationally. Many financial institutions spend a lot of time on the 30% and not on the 70% –– where the market edge is actually happening.

 

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