Multichannel communication strategy: Enables banks and financial insinuations to deliver a seamless customer experience

The idea behind multichannel strategy is not new. With the increase in the channels used by companies to interact with the customers, the customers expect to enjoy a consistent experience across those channels. A lot of companies, spanning diverse sectors and industries, have invested in infrastructure to deploy multichannel initiatives. The financial sector, for instance, is ripe for robust Multi channel communication. With the evolving market conditions and customer behaviors, banks and financial institutions are heavily prioritizing the multichannel approach.

Customers today want to connect with banks the way they want, on the channel they want and when they want. Multi Channel Communication Software helps deliver a smooth experience to customers, while providing banks and financial institutions an edge over more tech-savvy fintech firms. Multichannel communication makes things a lot simpler for the customers. For example, they can search for car loans on a web browser, ask questions about it to the bank on WhatsApp, resolve certain queries on personal loan repayment at the website of the bank, and ultimately submit their loan application.

To have a strategic approach towards both multichannel and Omnichannel Marketing in India, one has to start off by analyzing the behavior of the customers on diverse channels across segments and products. This will help in defining channel value propositions for distinctive customer segments. Based on these insights, banks and financial institutions can design sales and service processes across all channels to facilitate a seamless customer experience.