With travel returning at speed, and travellers willing to spend more in order to access premium travel experiences, it presents brands in the financial services sector with new opportunities to leverage the return of travel to re-engage and deepen customer relationships.
At the recent Asian Banking & Finance Forum in Bangkok held at JW Marriott Bangkok on 4 April 2023, James Ellis, Vice President of Business Development, Asia Pacific, Collinson, joined Tim Charlton, Publisher of Asian Banking & Finance and Martin Buchholz, Head of Digital Banking, CIMB Thai to discuss the topic, “Digital Banking and Customer Experience: Delivering Seamless and Personalised Service”.
Key takeaways from the session include:
- Consumers today are expecting far more sophisticated, tailored experiences that will add value to their lives. To stay relevant, brands will need to understand and adapt to these evolving expectations and deliver seamless, tailored, value-adding and status-enhancing experiences to deepen relationships with their most valued customers.
- Financial services brands are well placed to get closer to their customers and build stronger connection and engagement with them. To do so, they will need to build on their existing foundation of trust with their customers and find ways to extend the reach of their relationships beyond traditional boundaries through providing aspirational enhancements that will interest their consumers.
- The return of travel presents brands in the financial services industry with new opportunities to implement travel-related experiences that will value add to their customers’ journey. A recent study from Collinson featuring responses from 4,750 consumers across Asia Pacific, revealed:
- 85% of consumers in Thailand would stay with their financial services institution if offered travel-related rewards and benefits.
- 81% of consumers in Thailand are also likely to use the card for travel expenses and 75%, for everyday expenses.
- By incorporating travel in their offering, it helps to create positive perception and behaviours with consumers. Consumers in Thailand have said that airport lounge access makes them feel valued as customer (60%), rewarded (60%) and it also encourages them to be loyal to the brand (51%).
Contact Collinson today to learn how to build closer connections with your most valuable customers