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Improve your Treasury Management Customer Service Experience

Improve your treasury management customer service experience

Our clients see increasing competition for business banking services from not only competitors they know, but ones they don’t know. The ones they know are market competitors from national banks to the smallest financial institution. The ones they don’t know are fintechs, with no local presence and app-based products.

Competing against your known competitors is relatively easy (well, straightforward), but a fintech? How can you do that? Improving your treasury management customer service experience will be a great start.

Let’s start with a new view of treasury management services: They are all technology services requiring modern and proven methodologies to deploy and support. Let’s explore five ways to improve your business customer’s experience with your institution.

Train your Staff

Nothing is more frustrating for a business customer trying to get help with a technology product than getting bounced around from banker to banker in search of a solution. Every time you roll out a new treasury management service, training the staff on that service should be a priority. You’ll need training for the sales team on how to sell it, training for the marketing team on how to generate demand for the service, training for the operations staff on how to deploy and run it, along with training the customer service staff on how to troubleshoot and fix issues.

We see two tracks for training on treasury management services. The first track is on the sales side. Not only does the sales team need to know the service features, but they also need to know how to ask your business customers the right questions to uncover needs. The second track is on the operations side, documenting the service features as a set of results so that everyone on the team knows exactly the goal for each service and the problems the service resolves for the customers.

Create a Business Call Center

Back to our earlier statement that treasury management services are technology services, why not support them as such? Creating a call center sounds like a massive project, but you can start small. Designate a single person (or workgroup) as the business support team. Create a single phone number customers can use to contact that team by setting up a hunt group or a call queue in your phone system. Create a single email address your customers can use to contact the team. Publish this information on your business page on your website. In a nutshell, make it easy for your business customers to quickly contact the trained team dedicated to resolving their treasury management business technology issue.

Use Ticketing Software

Now that you have some of your call center up and running, how are you going to track the service requests without tripping over each other? A modern service ticketing system will do this for you, tracking every service request. Your IT department may already use a ticketing system for IT requests. Maybe you can create a separate service board for treasury management issues and use that system. Maybe you need a new one. Either way, you need a ticketing system – it’s just part of providing excellent customer service.

Whatever ticketing system you decide to deploy, there is one critical feature necessary for excellent customer service: Closed Loop. Closed loop, in ticketing software terms, is where a customer can send in an email, a ticket is auto generated, then an email is sent back to the customer acknowledging the service request. As the issue is assigned to someone, resolved, and closed, each stage of this resolution process generates an email back to your customer (and your staff assigned to the service ticket), keeping them informed of their issue status. This loop of communication, from start to end, is called closed loop, and you need it.

Ask for Feedback

One of the most difficult things to do is ask the customer “How did we do?” or “How are we doing?”. However, if you don’t regularly do that, you’ll be providing support to customers not really knowing if they understand your solution or if the problem was solved. As you deploy your ticketing solution above, be sure to integrate a post-service request close automated survey and regularly review the results. Incentivize your team to constantly improve service ratings. Develop metrics to track this information and regularly review it in team meetings – all with the goal of providing excellent customer support to your business customers.

Keep Improving

Constant improvement in the way your treasury management services are marketed, sold, customers onboarded and supported are critical to the long-term success and profitability of those services. Improvement comes in all sorts of shapes and sizes, but constant communications is the start of all improvement. Start by collecting customer feedback (good and bad), immediately addressing the bad and eventually incorporating the good. Develop internal service cross functional management teams consisting of treasury management product managers, treasury management sales, operations, marketing, and customer support folks. The goal of each team is to guide the service, continually develop it and improve features, re-word sales and marketing materials, re-work support and troubleshooting procedures and generally make that service the best it can be.

Your Call to Action

Start looking at treasury management services as technology services and build your support team to properly support technology services.

With a solid business customer support system, you are on a level playing field in terms of treasury management customer service and on your way to protecting your market share and making business customers happy.

What treasury management projects are you working on? As always, we’re here to help.

Start a Weekly Treasury Management Blog in 10 Steps (Part 3 of 3)

Start a Weekly Treasury Management Blog in 10 Steps

One of the most powerful ways to build additional traffic to your institution’s treasury management portion of your website is to create a weekly blog with content focused on customers who use treasury management or cash management services. Below, we’ll continue our series how to start a weekly treasury management blog in 10 steps.
In part one of this three-part series, we examined some technical aspects of getting a blog up and running. In part two, we examined your blog’s purpose, editorial process and standards for editing and content. This time, we’ll touch on SEO, promoting content and re-purposing content.

Step 7: SEO Your Blog as you Post It

I’ll go through a WordPress post, but it will probably be similar on other hosting platforms.

  1. Post the text and build all the internal and external links a blog needs to rank on search engines (one of each).
  2. Add the featured image and SEO it.
  3. SEO the blog itself using Yoast.
  4. Add Facebook and Twitter titles, descriptions, and images. SEO the images.
  5. Schedule and/or post the blog.
  6. Once the blog is live, manually add it to the Google index by using Google Search Console.

Step 8: Promote the New Posting

Once posted, you need to promote the blog posting. We recommend posting a link to the blog on LinkedIn (since you are targeting business customers). If you don’t have a corporate LinkedIn account (what are you waiting for??), you can also post links to the blog on Facebook, Twitter, or any other social media accounts you use. You can also promote the blog in any e-newsletters you send out to customers.

Step 9: Re-Purpose Content

As time goes on, new social media platforms will become more popular. Now that you have a good assortment of content, don’t be afraid to re-purpose this content onto a new platform. It’s already written, so maybe do a quick edit, then re-post it. Here are several new ideas for re-purposing content.

  1. Expand on something you wrote about last year but needs more explanation.
  2. Shoot videos based on blog posts and post them to the same social platforms you already posted to, but in video format. Also, build up a YouTube channel.
  3. Combine several related blog topics into whitepapers for customers or prospects. All you need is some graphic design, plus some editing to put together a few good whitepapers.

Step 10: Desperate for Content?

Here are some ideas:

  1. Training for customers on how to use treasury management services. Train them via both text and video. Depending on how individuals learn, both will be useful.
  2. Video interviews with successful customers who use your TM services. These can be either be written interviews or video interviews. Keep the video versions to under 3 minutes – preferably to 1.5 minutes. Post them to your blog and the testimonial section of your website. You can even post them to social media directly (LinkedIn).
  3. Do a blog posting introducing the reader to each of your TM services – regardless of how old or new the service is. You can then link from the product page for the services as a “introduction and/or training” link.

Step 11: Bonus! Build your Future in Treasury Management Services

Some ideas for growing your content strategy:

  1. The weekly discipline you get by producing content each week will lead to greater and greater organization success. Assuming you SEO it properly and promote it through social media as much as possible, you’ll start to see more closed deals with an increasing revenue top line. But…it won’t happen right away. Give it 12-18 months to grow and for search engines to start to rank your content. Slow and steady is the name of the game in content marketing.
  2. As time goes on, figure out a way to create a video version of your content first, then convert it to text later. That way, you’ll have a combination of video, audio, and text content for all of your treasury management services marketing needs.

Your Call to Action

Stop denying a blog and content marketing strategy isn’t important to your sales efforts and start the process of getting a blog up and running. It will take some time (especially if your website is not blog friendly), but in the long run, will be worth it.
We hope you learned something about creating weekly treasury management blog to help drive leads to your institution. What treasury management projects are you working on? We’re always here to help.

Books by Marcia Malzahn