Video Banking ROI

Video Banking ROI

What is your banks Video Banking ROI?

Video Banking ROI can be seen in a matter of months if not weeks when implemented properly. In addition to increasing your CSAT scores by 50-80%, there is tangible ROI in revenue and cost reduction.

Banks and credit unions, large and small can see their video banking ROI in three main areas:

  1. Online conversation rate increase 4X
  2. Phone or online close rates by 30-40%
  3. Increase wallet share by 10%+

The banking industry average website conversion rate is 3%. Our Video Banking ROI infographic outlines an increase in $8.6M for a bank with 1.5M monthly visitors. This is a direct result of video banking marketing to new prospects for acquisition.  This model only assumes a 10% increase in conversation rate vs. 30-40% which is the proven industry analyst numbers.

This model does not take into consideration the increase in wallet share and cross-sell opportunities with current customers during a video banking call. Customers are more open to “account reviews” when using video banking at their convenience vs. being rushed in/out of the branch.

To learn more about the value of video banking for financial institutions see our latest infographic with some industry case studies. It outlines why 80% of banking executives say they will implement video chat solutions at some point soon.

Furthermore, 100 of the Global 500 will implement video chat by 2018.