Digital Advertising 07.10.2023

Driving a Digital Transformation, but Keeping the Human Touch

Shownotes

In today’s rapidly evolving marketing landscape, the need for digital transformation in the financial services industry has become crucial. As customers increasingly expect seamless experiences, striking the right balance between digital and in-person services can be a challenge. In this episode, we discuss how Fifth Third Bank embraces digital transformations while prioritizing customer support and human interaction. Explore the role of marketing in driving successful digital transformations and creating impactful customer experiences.

About the Guest

Melissa is an executive vice president and chief marketing officer for Fifth Third Bancorp. She is responsible for ensuring a client-centered, digital-first approach to all areas of the Bank. She also oversees the Bank’s Enterprise Workplace Services and Corporate Communications organizations. Melissa joined Fifth Third in May 2016 and has been integral to the Bank’s transformation to thrive in the digital world. She has designed an integrated and seamless customer experience across the organization.

Connect with Melissa Stevens

Key Takeaways

A key part of balancing digital and in-person services is to ensure that customers feel supported throughout their journey without overly relying on digital or automated solutions.
It’s important to combine meaningful conversations with quality data, insights, and integrations to help solve customer problems more effectively and point them to the right tools and solutions.
Success in digital transformations requires understanding the “why,” “how,” and the people involved. Evaluate technology, processes, and people to make necessary adjustments and raise expectations based on customer experiences and the competitive landscape.

Quote

“It’s not about marketing a product or hacking a product or service, it’s about understanding those business’ needs, understanding those institutions’ needs and bringing them thought leadership, bringing them a great partnership.” – Melissa Stevens

Highlights from the Episode

How has Fifth Third Bank responded to the increased competition in the digital space and the overall industry shift toward digital solutions?

Fifth Third Bank uses a three-pronged strategy to face the digital transformation challenge: buying, partnering, and building. They buy non-core services from external providers and then partner with fintech companies to offer innovative solutions like treasury management for businesses. Building unique, proprietary solutions in-house enables them to adapt to modern needs while ensuring that they continue to provide the best possible solutions to their customers.

How has Fifth Third Bank managed the balance between digital and in-person services for its customers?

Fifth Third Bank aims to strike a balance between digital innovation and human interaction. While acknowledging the significance of digitalization in the banking industry, they also recognize that the human touch is indispensable when providing support. They aim to make customers feel cared for throughout their service, refusing to lean solely on digital or automated solutions.

What advice would you give to our listeners who want to learn more about digital transformations, particularly in the financial services industry, and how does marketing play a role in these transformations?

Digital transformations are driven by understanding the “why,” “how,” and the people involved. Financial services can successfully navigate these transformations by examining exceptional customer experiences, focusing on practical solutions, and managing change effectively. A strong data foundation, streamlined processes, and the use of Agile methodologies contribute to driving impactful results.

Is there a book, blog, newsletter, website, or video that you would recommend to our listeners?

Books