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Relay Network Addresses Customer Disengagement & Dormancy with Leading Industry Analyst

Thursday, June 16, 2022 1:00 PM

Independent research study and corresponding webinar reveal common customer engagement challenges facing today's bank and credit union leaders

RADNOR, PA / ACCESSWIRE / June 16, 2022 / Relay Network ("Relay"), the innovator of SaaS feed technology that drives unmatched customer, member and employee engagement, today announced it will host a webinar on Thursday, June 30, at 1:00 pm EST to discuss the preliminary findings of its commissioned Forrester Consulting 2022 Customer Disengagement and Dormancy Study.

In this webinar, our guest speaker, Forrester Principal Analyst Peter Wannemacher will review key insights from the study, which surveyed CX leaders at U.S. banks and credit unions, to uncover the greatest customer experience (CX) challenges facing them today.

The webinar will further delve into the industry's common re-engagement roadblocks along with solutions to overcome them. It will also provide a framework for how leaders should divide investments between initiatives aimed at customer acquisition and those aimed at nurturing existing customers.

The full study will be released in July. The initial findings discussed in the webinar include:

  • The majority of banks and credit unions know that engagement is critical - possibly more so than customer acquisition - with 87% stating that building and maintaining customer engagements would be an important undertaking in the next 12 months
  • Respondents recognize their current struggle with engagement and messaging, with 45% declaring it a challenge to securely engage with customers and 66% reporting an uptick in the number of customers who passively disengaged with their communications year over year
  • Despite the engagement challenges, respondents were hopeful, with a majority reporting they are planning to invest in customer engagement initiatives in the next 12 months
  • Respondents cited "complex rules around ownership and customer relationships" as the top challenge in developing and sustaining a single cross-organization communication strategy

"The findings of the Forrester survey echo a trend we've been seeing for some time: today's engagement tactics are missing a golden opportunity," said Matt Gillin, CEO and Co-Founder of Relay. "Retail banks and credit unions must prioritize implementing a meaningful digital engagement strategy for existing customers because customer dormancy is the biggest threat to - and opportunity for - their business. Relay clients are bucking the dormancy trend by using our feed technology to catalyze and enhance meaningful engagement with their customers."

Forrester's Wannemacher serves digital strategy leaders at banks, advising them on how to better win, engage and retain customers. Wannemacher's strategic frameworks help banks prepare for digital disruption and the future of financial services. He leads Forrester's ongoing digital banking benchmark research, a series of assessments covering companies' online banking, tablet banking, mobile banking and digital sales efforts.

To register for the webinar, Banks & Credit Unions: Findings From the 2022 Customer Disengagement and Dormancy Survey, Featuring Forrester, please visit the link here.

ABOUT RELAY NETWORK

Relay Network is the innovator of SaaS feed technology, with over 10 years of experience helping companies more meaningfully engage with their customers. Using the Relay Feed, a dedicated 1:1 engagement channel, companies are deepening their relationships with their customers and employees and improving business outcomes. Our goal is to help our customers maximize customer lifetime value by catalyzing mutually beneficial engagements between them and their customers.

COMPANY CONTACT

Taylor Fleming, Relay Network
[email protected]
https://www.relaynetwork.com/

SOURCE: Relay Network

Topic:
Company Update
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