Is your branch location convenient?
Providing convenience for your customers includes being easily accessible. Sometimes this means being embedded in their mobile device with slick features, sometimes this means a simple and powerful online banking platform, and sometimes this still means a physical location in the community. Consumer preferences continue to show that consumers of all ages frequently turn to in-person service for opening new accounts, addressing more complex questions, and seeking financial advice.
Evaluating how convenient your branch locations are to existing and potential customers involves many aspects, including the following:
How close is the branch to where customers live and work?
Is it easy to find the branch?
How is ingress/egress to the parking lot? (Is the left turn back on to the busy corridor a problem?)
Is it difficult to find parking? (Must customers walk across the drive-thru lane to the front door?)
There’s a good chance that you have already mapped where your customers live in relation to your branch network. Have you looked at where they are conducting other routine errands and transactions in the market?
By plotting their foreign ATM and debit card transactions on a map, it immediately becomes clear where they are conducting their everyday errands – those spots that are truly convenient to them. It’s powerful to visually see clusters of transaction activity and assess how close that activity is to your branches. Do you have a branch or ATM nearby?