Royal Advisor May/June/July 2016
Word Count600+ 92(call-out box)
DKT 4
The Everyday Banking Experience – so much more than just opening a bank account
Our first chance to make a lasting impression
It may seem like every day new clients are coming into our branches to open a bank account, but it actually doesn’t happen as often as you think. Canadians are very hesitant to switch banks, but when they do and they walk in to a branch, they are prepared to buy. This is our first chance to make a lasting impression. New clients expect the star treatment and meeting this expectation is a critical step indeveloping a long term relationship with that client.
What motivates someone to open a bank account? A bank account plays a key role in many people’s everyday lives. Bank accounts allow people to:
- Get paid
- Pay for things they want/need, and
- Keep track of it all. (don’t forget about all the benefits eStatementsoffer)
What may seem like “just opening a bank account” to us, is a very important moment for the client, so keep the experience focused on them and how they choose to conduct their everyday banking. Think of itas a first date: listen, learn and be attentive so that client will ask for a second date.
The Conversation Tool can help you plan that firstall-importantconversation and help ensure you cover offall of the important considerations with the client.
Deliver the Everyday Banking Experience to every new client
1)Don’t forget how important this first interaction is (especially when this may be your 800th account opening) –this is your client’s first interaction with us.It’s a big deal!
2)Understand that clients are coming in to buy. Deal with their immediate need and ensure they have everything they need to get set up and running.
3)Find out what the client knows. What research have they done? Many newclients have done their homework before they come in … let them know that you recognize and appreciate their effort.
4)Keep it real. Use the Everyday Banking Conversation Tool as a guide, not a checklist. You need to learn how the client plans to use their account and respond accordingly.
5)Understand that everyone has biases, including you. Don’t project your feelings on the client. Listen, learn and recommend based on their needs. Did you know that more than30% of new clients call the Advice Centre within the first 30 days for help signing up for Online Banking? Why not get your client set up with online banking during your first interaction? Show them how easy our mobile banking app is to use … and have them navigate around it. Make sure they feel comfortable using it beforethey leave the branch.
6)Provide the temporary bank card to every client and have them use it atthe ATM. Some clients have concerns about the temporary card (have you ever had a gift card that didn’t work?), so if you have them try it right away, they will walk away feeling much more confident.
7)Keep your questions relevant. Updating their net worth can be done when you complete acredit application oroverdraft protection. You don’t need to know their net worth to recommend a bank account.
8)Finally … know your stuff. Clients may lose confidenceif they know more about our products than we do. A few questions will tell you what account is best for them. Follow up with your client after 3 months to ensure their account is continuing to meet their needs. Use the Account Selector, so you can anticipateany questions they may have regarding their account.
Call Out
Helping you Acquire New Business
The iPad Campaign is all about attracting both new and existing clients who don’t yet have a RBC Personal Banking Account (PBA) butare looking for a comprehensive premium banking package – RBC Signature No Limit or VIP. These clients (primarily millennials) see real value in a comprehensive set of account features (e.g., free overdraft protection, credit card fee rebate, bank drafts and rebate on safe deposit box, etc.) at a fixed monthly fee.
Make the most of your conversation by focusing on the features and benefitsof our no limitaccount options.