Re-engaging the unengaged customer

Are your customers engaged? It’s a question many in the financial industry are asking themselves lately. In the age of fintech disruption, it’s more important than ever for financial institutions to reach out to customers, to make them feel valued, and to give them reasons to give you more of their wallet. It’s an opportunity for growth and a way to build, and in some cases, rebuild, relationships with the segment of their customers who are at risk of falling away.

Who are these customers, and why are they disengaging? At Deluxe, we wanted to find out. That’s why, in January 2018, Deluxe Financial Services commissioned Forrester Consulting to look into what’s going on with those unengaged financial consumers. The complementary report, entitled Reward Your Unengaged Customers: How Loyalty Programs Can Reinvigorate Your Relationship with Your Lapsed Financial Customers is available to download today.

First, let’s define what “unengaged” means. It’s a customer with active accounts, either checking, savings or credit card (or all three) but for varying reasons, they have not made deposits, withdrawals or payments through them for the past six months. Forrester conducted an online survey with 1,016 respondents in the U.S. who are unengaged with their financial institutions.
What they found might surprise you.

 

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