“The most startling truth is we don’t even think our way to logical solutions. We feel our way to reason. Emotions are the substrate, the base layer of neural circuitry underpinning even rational deliberation. Emotions don’t hinder decisions. They constitute the foundation on which they’re made!” – Douglas Van Praet
Don’t Build Financial Services Products — Build Connections with Customers
Financial services institutions thrive when they can acquire new customers and retain those that they already have — simple, right?
Simple, if financial institutions remain aware that their customers are human, and human decisions and behaviors are driven by instinct and emotion. Every successful company today must focus on building emotional connections with customers, not on selling more products. When financial institutions lead with a product or service and then try to find as many customers as possible to buy it, they are missing the mark.