For the sake of this discussion, implementation is the entire period between contract signing and go-live. And it’s essential that you communicate information about your digital banking conversion throughout the entire implementation. It can’t be stressed enough.
From a communication standpoint, treat your digital banking conversion just like any other formal marketing campaign. Sure, you’ll measure the success of this campaign differently from other campaigns, but the mechanics should be the same. You should employ all the same channels and tactics, whether they’re traditional or digital.
This is also a good time to consider new channels. For example, perhaps your institution doesn’t currently use video. A well-scripted, professionally produced video of your CEO explaining the upcoming upgrades can be an extremely powerful tool.
It’s important to characterize your digital banking conversion as an upgrade that will benefit accountholders. Likewise, you don’t want your message to be too technical. Speak in terms of “what’s in it for the accountholder.” To that end, don’t be afraid to include your messaging in public channels such as billboards or radio. That may be just the nudge non-accountholders need to explore your institution.
In short, do as much as your budget will comfortably allow, and then a little more. After all, a digital banking upgrade can be a game changer. There’s no single best way to communicate. Your success will be determined by how well you balance all the channels you have at your disposal.
It may seem at times that you’re over-communicating with your accountholders. You’re not. Because no matter how often you communicate with your accountholders, and no matter how many different channels you use for that communication, some percentage of your accountholders will get caught off guard by the change. That’s inevitable. However, the more you communicate, the lower that percentage will be.
Consider this, too. Which would you rather encounter (and which would you be more likely to encounter), an accountholder who complains that you communicated too much, or an accountholder who complains that you didn’t communicate enough? If you’re like most financial institution executives, you’ll agree that the former is more desirable and the latter is more likely.