How can I retain my DDA customers?
Abstract:Jonna Anderson is a Product Manager for Zoot Enterprises. In this video Jonna discusses how banks can retain their DDA customers.
Financial institutions can retain customers by increasing the value to the customer. There are 3 factors that contribute to value: product, number of accounts, and customer service. First: product-- customers are more likely to accept products that fit their needs and are priced to their expectations, so a bank needs to take time to look at their product offering. Secondly, increasing the number of products per relationship is important. This can be done by cross-selling to maximize customer interactions. Third, superior customer service is important. This helps to ensure customers feel known and valued by your institution. So, in summary, banks can retain their DDA customers by increasing their value through product mix, deeper relationships, and a positive customer experience.