How City National Bank is Advancing its ...

Never before have consumer expectations shifted at such a rapid pace. As brands and marketers try to keep up with an always-evolving consumer landscape, what they are quickly discovering is that just because you operate in one sector, doesn’t mean you are just being judged amongst your peers. As the  Executive Vice President and Chief Marketing, Product and Digital Officer at City National Bank, what Linda Duncombe has discovered is that while the customer always comes first, the way customers interact with other brands and platforms across multiple sectors greatly alters the expectations they have for yours.

“They're not comparing me to banks. They compare me to the experiences that they're having in their lives. When we think competition and innovation, it's really easy for us to say this bank is doing this and this bank is doing that, but that's a big mistake because that is not what we are being benchmarked against. Innovation now has to start thinking very differently about how we meet the client experience. It's evolving.”

On this episode of Marketing Trends, Linda discusses why City National Bank has widened its scope of technology services in an effort to make the customer experience a more streamlined experience. And she discusses why the customer’s voice is larger and more important to marketers today than it has ever been before.

Main Takeaways:

• Can You Hear Me Now?: Never before have clients played such an integral role in the development and launch of products. As clients’ voices rise in importance, marketers need to develop a workflow that now incorporates the client more in order to ensure that their needs are being met. Co-creation helps develop a working and personable relationship with the customer while making sure they have a seat at the table
• Think Outside the Box: When you are hiring a marketing team, think outside the typical personnel you are comfortable with. Don’t lock yourself into hiring individuals with only banking experience, or only content expertise. When you confine yourself to those boxes, you often find the same types of candidates and a lack of diversity in skill. Instead, go outside of your organization and industry in order to create a diverse team filled with passionate marketers who can help innovate your space.
• Expectations Rising: Banks and companies are no longer being measured solely based upon their products. Instead, customers are measuring a company's value based upon a variety of factors, including the social good they contribute to their community. Incorporating some sort of social mission or community initiative will help the upcoming civic-minded generation feel comfortable working with and remaining loyal to your brand.

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