In today’s crowded banking marketplace, competing on customer experience (CX) can provide community banks with an undeniable advantage, setting them apart from competitors—even the megabanks that dominate the financial landscape. While “unfair advantage” might sound like a compliance nightmare, we’re talking about a competitive edge that leaves your competitors scrambling to keep up with the seamless, customer-first experiences you provide.
For many banks, much of the focus tends to be on acquisition—bringing new customers in. But keeping customers is equally, if not more, important. The harsh reality is that a poor customer experience, not a lack of products, is often the reason why a customer leaves a bank. And here’s the kicker: retaining a loyal customer is far easier (and cheaper) than attracting a new one.
If you’re a marketer and you’re not already prioritizing customer experience, now is the time to start. Community banks are uniquely positioned to outperform even the largest financial institutions when it comes to CX. While megabanks have invested heavily in customer experience, they simply cannot forge the deep, personal connections with local communities that community banks can. Your advantage lies in the personalized, humanized experiences you offer—and your customer experience is how you showcase that superpower.
So, what exactly is CX? At its core, it’s the sum of every interaction your customer has with your bank—whether through online banking, your mobile app, an ATM, a drive-thru visit, an in-branch experience, a phone call, or even an email or text. Even slightly clunky experiences (like navigating a poorly designed app or struggling to speak with a real person) can add up to major frustrations over time. Great CX is about eliminating these frictions and creating seamless, consistent experiences across every platform and touchpoint.
Here’s the beauty of focusing on customer experience: people want to share great experiences. By delivering moments that delight your customers, you’re naturally creating brand advocates who will spread the word about your bank. The key to cultivating this kind of experience is maintaining a feedback loop—one where your customers’ voices are heard, and their feedback actively informs your bank’s strategic planning.
The takeaway is simple: always be engaging with your customers. Regular conversations with them—whether through surveys, direct feedback, or even casual chats—help you stay tuned in to their experiences and uncover opportunities for improvement. CX isn’t just a buzzword; it’s an ongoing commitment to continuously enhance every customer interaction.
At Agora Eversole, we understand the value of customer experience and its impact on your bank’s success. As specialists in bank marketing, we help community banks harness the
power of CX to build stronger relationships, drive loyalty, and ultimately, create an advantage that even the biggest players can’t touch. Contact us today to see how we can help elevate your customer experience—and your competitive edge.
