A vicious cycle for both customers and financial institutions
The crisis is still unfolding and everyone is scared about what might happen in a near future. As the way is unlighted, both customers and financial institutions are wondering when this whole recession will be over. Banks are loosing a lot of business and whereas customers are reluctant to get their money on the stock exchange market, banks which are already struggling to earn money are not able to propose interesting products. In France, Le livret A, which was the most conservative and popular saving program, has seen its interest rate dropped from 4 to 2.5%, and most of the other saving products are about to do the same.
This situation is not helping clients to trust the end of the tunnel is close. This situation is creating a feeling of fear. Fear is a feeling that shows up while there is an unknown situation which we believe will drive us to an unpleasant end. That is exactly the situation we are in right now: a crisis that is still unfolding, where a lot of people are impacted, and leaders are announcing us more trouble.
Fear drives the information need
Fear is turning the need of information, as information is probably the best way to limit and fight this fear. You might not like news that fear you but actually you are eager to listen to them because they are impacted you in a very important way.
Therefore, customers are seeking for information, and that is important for companies to leverage this fact in order to generate new leads.
Actually, the person that will be able to calm down customers' fear will stand out as the expert of the situation, and will be the best placed to generate leads.
Banks must focus on content
That is the reason why I consider banks and financial advising corporations should focus right now on their skill to create high quality content. This content could be available thanks to different ways, public relations, blogs, podcasts, or online videos. That will help them generate leads and also secure their customer relationship.