KQ Article

“Objects in motion tend to stay in motion; objects at rest tend to stay at rest.”

Sir Isaac Newton wasn’t talking about customers or learners when developing his first law of motion, but he may as well have been. Training professionals know you must continuously infuse the classroom with energy and compelling content if you want to keep the learner in motion. If students drift away, re-engaging them is an incredible challenge.

The same principle applies to customers. New account holders, whether first-timers or those switching from another bank, are in motion. To maintain that momentum, financial institutions must provide energy and compelling content. If not, new account holders may not see your institution as anything more than a place to let their money rest. And you know what happens when objects come to a rest.

Here are two ways to keep both trainees and new account-holders in motion:

1. Peer pressure. Recently, the Wall Street Journal described an energy company that offered customers a report comparing their usage to the most efficient households in their neighborhood. Those who received the report showed a “sustained reduction in energy use.”

In other words, peer pressure works. This is why onboarding should feature information about similar customers. Highlight products and services that are popular with a new customer’s peers, including details about how much they are investing and how often. I rely on this tactic in the classroom all the time, using video endorsements from salespeople who are in the same jobs as the learners.

2. Timing. The first 30 days after training are critical. This is when you make it stick through immediate coaching and relevant content. Without follow-up, new knowledge is often lost. Timing is just as critical for financial institutions. New account holders keep your brand top-of-mind for a few weeks, 30 days at most.

This is why onboarding must occur early and often. Unfortunately, many of us forget that true selling starts the moment the new account is opened, and that the hard work of maintaining the relationship has just begun. Although the content of onboarding is important, timing is absolutely critical.

When trainers deliver the right content at the right time, the result is empowered employees. When bankers do the same, onboarding influences how new customers or members perceive your brand and interact with your institution. The key is to keep them moving — and in the right direction.

_{© 2010 Mark McCarthy}

What are your thoughts about onboarding? Share them with others below.