4 Compelling Benefits of a Digital Sales Platform November 28, 2017January 31, 2019 Q2 4 Compelling Benefits of a Digital Sales Platform As head of marketing at Gro, I like to interview our new customers to find out what the driving factors were for their financial institution to implement a digital sales strategy. Some answers are similar, such as wanting to increase customer acquisition. But I’ve also heard many that are creative ways to solve traditional problems and improve the customer experience. Here are the top 4 business reasons banks and credit unions cite for implementing a digital sales platform: 1. Risk-free expansion into new markets. I hear this one a lot! Adding a new branch is an expensive commitment when you are testing out a new market. Having the ability to sell products directly from your website allows you to enter new geographical or demographical markets without having to find real estate, build out, and employ a new staff. Simply expand your advertising efforts and direct people to the digital checkout process on your website, and watch your numbers grow. 2. 24×7 hours for alternative schedules. Many small- to medium-sized banks and credit unions cater to consumers who may work or keep alternative schedules. With a digital sales platform in place, your website can accommodate these people by offering the ability to open an account or sign up for a loan when it is convenient to them, not just during traditional bank hours. 3. Same simple experience for multiple product types. Many banking products are decisioned differently on the back-end. For example, there are different qualifications for a checking account than there are for a car loan. With a digital sales platform in place, the front-end checkout process for all types of banking products can be one seamless experience. Customers can simply add products into their shopping cart and checkout, and the decisioning can happen separately on the back-end. 4. True omni-channel checkout. Customers are not one-size-fits-all, and the answer is not to force everyone into using the same channel. A digital sales platform allows you to have a true multi-channel sales strategy, where people can do what makes sense to them on a given day. They can go in the branch, go online, mobile or even via tablet from a community event. Offering multiple channels to do business is a strategy that makes everyone happy.