Expectations for frontline staff are shifting.
When customers walk into branches, they expect more than just friendly staff. They want employees to be fintech experts; able to recommend relevant options and answer any questions they have.
And if they don’t get that experience, many simply leave.
90 percent of customers leave without purchasing when they can’t find a store associate to help them.[1]
Knowledgeable frontline employees affect everything from how likely the customer is to buy, to how likely they are to return to your branch.
That’s why knowledge of digital products (like mobile banking apps) is paramount for good customer service.
Delivering on excellent customer experiences also lets you side-step the price slashing war with competitors; 86 percent of customers are willing to pay more for a better experience. [2]
Just look at one industry leader — Sephora.
Sephora’s staff are incredibly well trained. They know their products. And they’re able to help you with whatever you need — whether it’s locating a product, finding the right solution, or even teaching you how to use it.
Sephora isn’t competing on price; they’re competing on experience — and their frontline staff are a key part of how they excel at just that.
Technology Training Objectives
So how do you turn your financial institution’s frontline staff into digital product experts? The obvious answer is great new technology training.
94 percent of retailers agreed that investing in associates as frontline contributors was either “extremely important” or “very important” to improving customer experiences and satisfaction, and achieving business and financial goals.[3]
An effective fintech training program does three main things:
Increase knowledge of the facts and features of the technology
Build confidence using and navigating the tech
Make staff comfortable recommending and/or supporting the tech in customer service situations
Knowledge of new technology products in a vacuum isn’t useful. You need staff to be confident in that knowledge, and apply it when they’re on the retail floor.
6 Best Practices for Improving Knowledge of New Technology Products
1. Encourage Regular Training Habits
Having staff take training regularly (even daily) keeps product information fresh. Repetition helps transition your training from memorization to mastery; staff become confident in their knowledge of your fintech.
Building daily training habits also makes it easier to train staff when new products are released or updated. Instead of trying to get them to take the training, you can simply push new content onto your platform.
2. Make it Mobile
A significant number of frontline staff work away from desks and computers. They’re out on the floor, interacting with customers — and that’s where you want to keep them.
Making your training available on mobile devices (like a store iPad, or even staff’s smartphones) lets your frontline can take courses in lulls between customer interactions — or look up information when they need it.
3. Use Microlearning
Microlearning makes it quick and easy for staff to get the product information they need when they need it. It also allows you to structure your program logically around products. You can create courses about specific products or services, starting with modules about benefits and moving on to the more complex details.
4. Include Role-Play Scenarios
Give staff a chance to practice recommending or supporting products before they hit the floor. Role-play scenarios help staff recognize opportunities to bring products up & builds their confidence, so they’re comfortable discussing those products in retail situations.
Role-play scenarios can also help develop your frontline employees’ communication skills and improve your customer service.
5. Use Technology Walkthroughs and Simulations
Beyond knowing the benefits and features, your frontline staff need to understand how your products and services work — especially if they’re digital (like an app).
A great way to encourage product mastery is to give staff a chance to actually use the products. Interactive tech walkthroughs can be built for both staff and customers, then integrated into your training platform so they’re available on demand.
6. Make it Fun
People learn better when they’re actively engaged with content, instead of passively reading or watching. Strategies like game-based learning or gamification encourage staff to care about the content being learned — and keep playing until they master it.
Plus when training is fun, it’s much easier to create habits of daily training which are so important for retention & application of product information.
The Bottom Line
Customers are researching digital banking products more than ever. But that process is often overwhelming — which is why many turn to frontline staff for help.
Frontline staff represent a great opportunity to build trust and improve customer satisfaction — and to introduce your customers to your other fintech. But to transform staff into digital ambassadors, you need great training content — and need staff to engage with content regularly.
Set your program up with fun, short, mobile accessible learning modules that teach product benefits & facts. Encourage staff to take training daily. And use role-play scenarios and tech walkthroughs and simulations to build their confidence so they’re comfortable recommending products in retail situations.
