Renasant Bank and StrategyCorps – Trusted Alliance
Evolutionary thinking breeds success. Growth, determination to succeed, resilience, and forward thinking minds best embody Renasant. In this, creating an environment to lead, direct, and compliment others recommendations while providing positive solutions have made the success between Renasant and StrategyCorps a story worth telling.
Pick a Partner, Not a Vendor
Renasant's history of rapid growth came with opportunities to become more efficient and advanced in product and service culture. Being engaged with customer behaviors and preferences has been and remains top of mind for Renasant. “We accumulated thousands of customers with different account types over the years,” Suzanne Smith, Senior Vice President and Director of Customer Experience, noted. “To reshape our solutions to meet customer needs and continue future bank growth, we wanted to engage a high performing partner. We found StrategyCorps to be just that.”
StrategyCorps delivered a thoughtful approach to consolidate and migrate a magnitude of accounts and simplified the bank's product offerings, which was a win for customers, employees, and the bank. This strategic approach leveraged customer relationship data to enhance the customer experience. Renasant quickly learned to “trust the data,” Smith stated.
Picking the Right Partner
Renasant has partnered with StrategyCorps for both a migration strategy and an account simplification strategy and “easily came to see the value of StrategyCorps as a strategic partner,” Smith said. With the migration strategy, the two companies worked together and collaborated to achieve common goals. With the simplification strategy, the companies focused on keeping products, features, and benefits clear and understandable. This allowed bankers to easily understand what solutions to offer and provided customers a transparent choice of product.
Finding Opportunities and Leveraging Creative Delivery
Part of Renasant’s success is resiliency regardless of the economic environment. Renasant is connecting to customers in each community and meeting them along their financial journey. “It is being open to new ideas and ways to do business despite the current circumstances,” Kimberly Dillard, Senior Vice President and Director of Retail Experience and Delivery, said. “It is being creative about outreach and product and truly making a customer connection beyond a bank and a product. It is also having the right insight to bank people the way they want to be banked.”
Renasant is well known in the industry for marketing and being a household brand name. StrategyCorps offers Renasant more opportunities to grow by recruiting new households.
The Three Key Takeaways for Success:
- Approach this with understanding this is a long-term commitment, not just a project.
- To achieve success, you must be able to speak to the customer, the bank, and the employee. Thoughtfully create the message you want to be heard by all three audiences.
- Keep it simple and relevant. Both require discipline and consistent review.
Continuing to Evolve and Prosper
As the banking industry has evolved and continues to change, being prepared to move forward and face the challenges has led to Renasant’s continued success. Focusing on the customer and providing the best product offerings to meet their busy lifestyles is always at the forefront for Renasant. Along with offering security, protection, and peace-of-mind, driving decisions that best benefit the overall customer experience is a winning combination with valuable products and outstanding service.
“Working with StrategyCorps has allowed us to view both the quantitative and qualitative aspects of the customer relationship and bank performance,” Dillard stated. “Collectively assessing numbers, behaviors, and strategic alignment makes a difference. StrategyCorps walks you through this assessment and gives you a roadmap for success.”
“To sum it up is simple,” Smith said. "We saw the success of the partnership during the first engagement with StrategyCorps, so it was an easy decision to want to drive further success for our company and to partner again. Repeat business is the best recommendation we can give.”