Empower and Reward Your Account Holders to Fuel Checking Growth
Referral solutions are a natural complement to a checking acquisition strategy, especially when you consider:
- 45% of consumers start their search for a new Financial Institution by asking friends and family for advice on where to bank. (Source: Forrester Research)
- Word of mouth advertising is more trusted than traditional advertising. (Source: Nielsen Global Trust in Advertising Survey).
- Referral marketing cuts the cost of acquisition in half.
Royal Digital Referral is designed to:
- Acquire quality new checking households.
- Deliver a Cost Per Account that is less than ½ the national average of $450 (Source: The Financial Brand).
- Provide a growth factor of several incremental new accounts per branch per month, over & above business as usual.
- Promote brand advocacy. Strengthen customer loyalty.
Key Solution Features
- Automated digital solution. No paper. No manual processing.
- Multichannel engagement through text, email and social media.
- Marketing best practices will be provided. Typical examples include –
- Train-the-trainer & direct training sessions for branch and contact center associates
- Launch plan with key digital assets
- Training video for your staff, and training video for account holders
- Ongoing training and support
- We also offer optional turnkey digital marketing support if desired.
- Usage incentives for your customers.
- Automated behavior-based incentive system.
- On-demand performance analytics.
Program Development, Execution & Management
Program development, implementation and management is designed to be easy on your Financial Institution and quick to launch in as little as 30-days. The account team is structured to function as an extension of your marketing department, heightening the productivity of your staff.
Recommendations from family and friends trump all other consumer touchpoints when it comes to influencing purchases…
— Independent Forrester, Nielsen and McKinsey market surveys
9 out of 10 consumers online trust recommendations from people they know.
71% claim reviews from family members or friends exert a ‘great deal’ or ‘fair amount’ of influence.
— Harris Interactive
Contact Us Now to learn how the Royal Digital Referral can benefit your organization.
Ready for the Power of Digital Referral?
Check out this article in The Financial Brand titled, How To Acquire Checking Accounts in an Amazon World.