EFFECTIVE BANKING INDUSTRY MARKETING
Focus on Personalization to Improve Marketing ROI and Gain Loyalty
Delivering Good Marketing is Never Easy
With access to vast arrays of data, new MarTech innovations, and higher consumer expectations, a marketer’s job is only becoming more sophisticated. We’re all suffocating in the details and some of us are struggling with direction. To help alleviate some of this pressure, we’ve curated a list of questions and thoughts to help you ‘reset’ with a bit of grounding – big picture thinking!
Let us help you engage faster, better, and in more personalized ways
Not only are we experts in marketing, we know what it takes to create and implement a successful MarTech strategy in the banking industry. Whether your goals are to enhance the customer onboarding experience, introduce new products or incentives, or customize the next best offer journey, our team will identify the best path forward. We have deep experience working with banking institutions across the U.S. and our team members know how to help you market to the modern-day customer.
We traded in our passbooks for mobile apps long ago and truly understand your needs and the competitive arena you play in. Let's talk about what makes your situation unique and the challenges you face.
How Does Your Strategy Stack Up?
Is your data unified across platforms?
A good marketing organization needs to draw from a variety of different sources (accounts, transactions, loans, demographics, etc.) to form a complete picture of the customer. Often companies deploy a Marketing Data Mart (MDM) or leverage a Customer Data Platform (CDP) of some sort to fulfill this need.
Are you able to identify and capture customer preferences?
Knowing your customers communication preferences is critical to having a valued marketing relationship with them. A profile center to gather and understand things like the preferred types of, frequencies, and channels for communication is a must. Where one customer may see huge value in receiving wealth management offerings, another may see it as spam.
Do you customize your marketing journeys or send blanket messaging?
In your customer-centric marketing, you should be thinking about things in terms of the individual. To fully embrace this means developing, and constantly optimizing, your consumer personas, customer journeys, and lifecycles.
When was the last time you looked at your end-to-end process for developing marketing content and executing?
As your marketing evolves so should your marketing processes. The five steps that historically worked for your direct mail and email may not be the best operational steps for your mobile and social channels. Furthermore, how/where groups like Legal and Compliance want to be included may also change over time with new laws, regulations, etc.
Have you updated your marketing perspective from being product-centric to customer-centric?
Customers (and prospects, when possible) want to be seen for the sum of their parts and have interactions that seemingly match their individuality. This means having better internal communication between the different business units like Personal and Business – breaking down those historical silos and act as a single (unified) entity just as the customer sees you.