Your credit union or community bank needs new members or customers. Every new account opened gives you a new opportunity for loan growth. I know it. You know it.
But you’re losing consumers instead. And the scary part: you can’t see it happening.
“Silent attrition” is when consumers engage less and less with your services as they look elsewhere to have their needs met. They won’t close all their accounts, but they won’t use them anymore either. Fear this silent consumer. 96% of consumers won’t tell you about a bad experience, and 91% just won’t come back.
So, how do you get new consumers and reverse silent attrition? Here are three ways to do it.
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