Put a ring on it: 4 ways to retain your account holders

Retaining account holders is a lot like dating—you reach a certain point, and the relationship either fizzles out or turns into something greater. If you want to keep these valuable relationships alive, here is some advice: stop casually dating them, show some commitment, and as Beyonce would say, “Put a ring on it!”

Not sure how to do that? Here are four steps that will help you take your account holder relationships to the next level.​

1. Welcome

Things may be different at the time of publication of this article in regard to branch openings and in-person transactions, but consider your account holders’ impression when they were able to visit your locations. Can you say with certainty that your account holders were welcomed into your facilities and made to feel at home by your employees? Does your staff wait to be approached, or do they reach out to each person who enters proactively and in a friendly way? Yes, you are a financial institution, and most of your business is transactional, but every conversation you have with your account holders should include reassuring eye contact and a level of personality—particularly for the phone conversations that are likely taking the place of in-person contact during our current COVID-19 era. To truly see if you’re performing at an optimal level, a ​​good measuring stick is if they are referring you to their friends. Try a referral program, and track your results.


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