COVID-19 Tactic: Help Consumers Transition Fast to Digital Banking

As coronavirus spreads financial institutions must move quickly to get non-digital consumers onto online and mobile platforms. Branch demos are out as lobbies continue to close. Instead, use 'Digital Demos' — online how-to simulators — to give digital newcomers confidence in using your virtual platforms. These tools also help contact centers provide 'side-by-side' answers to digital banking questions.

As the world responds to COVID-19, digital banking has moved from a nice-to-have to the primary way to do banking. It is important to make sure your customers understand and know how to bank digitally. We are seeing banks and credit unions embracing digital demos as an integral part of their COVID-19 mission-critical communications to get their customers banking digitally.

A growing number of financial institutions globally are including “Digital Demos” on their homepages, COVID-19 response pages and within dedicated customer knowledge hubs. Many customers have received emails from senior bank executives that include Digital Demos that help customers with basics such as depositing a check, paying a bill, setting up person-to-person payments and other key digital journeys.

Digital Demos are also used by contact centers so employees can quickly answer how-to questions and send Digital Demos directly to customers.

What Are ‘Digital Demos’? How Do They Educate Customers About Digital Banking?

Banks and credit unions have typically focused on the “why” of digital banking. Digital Demos have a more precise role, focusing on the “how to” of digital banking. Think of Digital Demos as micro-learning simulators, teaching through short, digestible content. Both basic and complex mobile and digital features are split into small units focused on digital banking features and how to do digital banking.

Digital Demos are used by employees and customers to practice mobile and online banking in a risk-free environment. Instead of reading instructions or watching videos, customers gain first-hand experience with digital products by walking through each journey before they try to use it for real.

To drive digital adoption over the past few years, financial institutions have unsuccessfully used tools such as PDFs and videos. Customers and employees have not found them appealing. And it is difficult for institutions to quickly update content as new features and innovations are launched.

Digital demos are engaging, interactive and accomplish two key purposes:

  • They teach non-digital customers the digital banking basics.
  • They drive awareness and usage of new digital banking features with digitally savvy customers.

An Immediate Need to Get Customers Banking Digitally

With COVID-19 closing branches and making over the shoulder demonstrations impossible, customers who struggle with digital banking need help right now. It is important to meet all your customer digital banking needs, from the basics to more complex features. Banking institutions have to communicate and distribute digital product knowledge to customers across as many communication channels as possible.

Once Digital Demos are in the public domain, they can be used to communicate with customers, as well as help customers self-discover answers to digital banking questions. This includes:

  • Integrating digital demos for customer self-discovery on bank and credit union websites, product pages, FAQ pages, support pages and knowledge centers.
  • Within key marketing campaigns, using digital demos to teach customers how to bank online and on mobile devices.
  • When customers search using Google, surfacing digital demos to help customers find answers to digital questions.
  • Embedding digital demos through mobile app support and within chatbots. Support customers with their mobile banking needs when they need it most.

The Importance of Contact Center Conversations with Customers About Digital Banking

As customers look for digital banking support from contact centers, financial institutions need to make certain employees have practical how-to digital product knowledge. Contact centers need easy access to digital demos to quickly answer questions and share knowledge with customers.

Contact center employees don’t have access to a mobile phone or they may not bank with you. As a result, it can be difficult for them to quickly provide answers to digital banking questions. Using Digital Demos, while on the phone, employees can see exactly what the customer is seeing and guide them through any digital journey.

There are different ways that Digital Demos can be integrated into contact center activities to help customers bank digitally right away.

  • Contact center employees can guide customers to digital demos on the bank website or the Customer Learning Hub, and then walk customers through a demo screen-by-screen.
  • During or after phone conversations, contact center employees can email links of digital demos to customers, who can then view the digital demo online or on their devices.
  • Financial institutions can embed or insert links to digital demos for common digital questions in Contact Us and Help/Support pages. This provides answers directly to customers, defers calls and reduces call volumes.

As we navigate through this period, we know that strong companies backed by great leadership are well-equipped to manage and operate during times of crisis.

It is mission-critical to make sure that your leadership can stand by your customers and help them with digital banking. Digital demos can reduce stress and be available 24/7 for customers, helping them understand and feel confident with banking digitally.

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