Going green is more than just a trendy term. For many people, it is a way of life and even part of their identity. The term eco-friendly determines how they shop, how they eat, and even how they bank. Adopting the eco-friendly ethos is a statement about your values and a tool for building stronger relationships with your customers. These days many consumers are actively looking for eco-friendly options and your company’s commitment to the environment can have a positive impact on your bottom line. The only catch is, you have to go all-in on green and make choices that benefit your customers.
The first eco-friendly adjustment that most banks make is to offer paperless statements. For obvious reasons, paperless statements are good for the environment. But they also cut down on costs for banks. Less labor, less postage, less time spent on the task of producing paper statements leaves more resources for other tasks. Plus, even more importantly, is the opportunity it gives a bank to support their customers who are pursuing their values. As a business, you have the opportunity to help customers build the life they want to have for themselves. For some people that means going green. Providing eco-friendly options is one of the ways you can meet your clients where they are.
While most banks already offer their customers some degree of mobile banking, the strength of your mobile offerings may impact your ability to attract new, younger customers. As with paperless statements, customers see mobile banking as eco-friendly and convenient. It’s becoming more common for consumers to hold banks accountable for their ability to provide those values for their customers. As the President of a community bank, I know that my customers are choosing us over the big banks because they expect more. They expect better customer service and they expect value-driven banking. You may be surprised to learn how many of your loyal customers are motivated by your commitment to preserving the environment. Investing in paperless, digital resources is an investment in your customer service efforts.
There are plenty of banks that use “eco-friendly” as a marketing ploy. This may work for a short time, but for customers who are deeply passionate about saving the environment, lip service like this won’t work forever. Conversely, some banks resist making this change out of fear of the cost of trying something new. I promise you, the fear of progress will do more damage than the cost of change ever will. At the end of the day, going “green” has to develop out of a commitment to customer service. Making these changes is an easy and powerful way to invest in those relationships while also making a difference in the environment.
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