It’s true, the world has gone digital and financial marketers need to catch up. But as you shift your efforts toward creating delightful digital experiences, don’t overcorrect and start ignoring the offline customer experience. When it comes to choosing a bank, interacting with a financial institution, or making complicated banking decisions, most consumers still rely heavily on offline communications. Financial marketers should prioritize integrating online and offline into one continuous experience.

Check out these 12 stats from Invoca’s new report, The State of the Consumer Banking Experience, to understand how today’s consumers make important financial decisions.

Omnichannel is the New Normal


When interacting with their banks, people use every channel of communication including mobile apps, phone calls, websites, texts, SMS, in-branch visits and chatbots.

1. 76% of consumers use at least two different channels during an average month.

2. 37% use three or more channels their bank in an average month.

3. 75% of consumers say it’s important or extremely important to be able to easily switch between channels when interacting with their bank.

Offline Actions Dominate Complicated Decisions


In a world gone digital, consumers still want to talk.

4. 64% of consumers list offline actions as their primary mode of contact when evaluating a financial institution.

5. 72% of consumers made at least two phone calls when researching loans.

6. 75% of people say offline methods of communication is the most effective for building a relationship with their bank.

Calls Are a Key Part of the Decision Making Process

551-on-invoca-slideshow-report-11-14-16-r047As mobile use increases, so do phone calls; this is especially true for large or complicated purchase decisions like loans.

7. 65% of people said they were more likely to take out a loan from an institution they spoke with on the phone.

8. 56% of callers would choose another financial institution after a negative phone experience regarding a loan.

9. 57% of callers would likely choose an institution for a loan after a positive call experience.

Customer Experience Matters


People want a consistent omnichannel experience and personalized recommendations. Financial institutions must create good offline experiences or risk losing customers.

10. 84% said that being immediately routed to the right rep had a positive or extremely positive impact on their decision to take out a loan.

11. 54% of consumers said personalization over the phone was extremely important.

12. 51% of people would refer someone to the same lender after a positive call experience.

For more data on how today’s consumers make important financial decisions, check out the State of the Consumer Banking Experience report.

Andrea Mueller

Posted by Andrea Mueller

Andrea Mueller is the public relations manager at Invoca. She has 10+ years of experience and has held positions at Edelman, Trend Micro, McGrath/Power and even interned for Governor Schwarzenegger one summer. Andrea earned her B.S. in Communications and Geography at Syracuse University. She loves racing triathlons, the outdoors, national parks and traveling.