For Bankers, Sales is a Game of Follow the Lead

June 28, 2019


By Kevin Flanagan, Marketing Director, Micronotes

When it comes to successfully selling financial products and services to current bank customers or credit union members, there is one rule that proves accurate time and again: Leads turn into sales.

And to generate those leads, you need to engage with your digital banking users and ask them questions about their lives in order to uncover the needs that turn into leads that become sales.

In examining the latest results from financial institution clients using Micronotes AI-driven engagement and sales platform, one thing is clear: banks and credit unions that use the in-session and logout interviews enabled by Micronotes to ask users about their lives and what they need are generating the most leads.

Here are some of the insights gleaned from recent client results:

  • A $1.4 billion bank in the mid-Atlantic region more than doubled the number of interviews it conducted vs. the previous month. Leads created jumped more than 160 percent, and sales rose by a sizable percentage, as well.
  • A small community bank in the upper Midwest increased the number of customer interviews it conducted by more than 300 percent. This resulted in a 25 percent increase in completed interviews. But, more importantly, those interviews generated a 100 percent increase in leads.
  • An East Coast community bank increased its completed interviews by a modest 19 percent over the prior month. But they still doubled the number of leads generated.
  • A West Coast credit union with more than $5 billion in assets increased the number of campaigns it ran by just 16 percent, which increased the number of interviews completed by about 5 percent. But even such a modest rise in completed interviews increased leads by more than 45 percent.

It’s important to note that not all Micronotes campaigns are designed to sell products and services. Our clients typically run about 40 percent or more of their campaigns to educate digital users about financial issues, security topics and the like.

And not all leads turn into sales instantly in any industry.

But in a world where it takes leads to make sales, we see a solid track record of success for financial institutions that engage with their digital users more frequently. In other words, they follow the lead, which leads to success.