4 Indisputable Steps To Optimize Customer Engagement in Banking

4 Indisputable Steps To Optimize Customer Engagement in Banking

Article from: The Financial Brand

Financial marketers have wanted a 360-degree view of customer relationships for a long time. To pull this off, they need a unified and accessible storage of consumer insights. With the right "customer data platform", financial marketers can improve campaign ROI that leverages data analytics and business intelligence.

Gone are the days of a linear banking experience. The banking journey has evolved into a dynamic path, defined by a proliferation of touchpoints and owned by customers who desire a better omnichannel experience.

However, financial institutions are facing major challenges in not only meeting consumers’ omnichannel demands, but also delivering on customer engagement and hyper-personalization. To meet these demands, stay relevant, and compete on experience, banks and credit unions need to organize their data into a single point of control and offer dynamic, individualized customer banking experiences — something some refer to as smart banking.

The key first step in accomplishing this lofty goal is embracing digital transformation. Marketers must recognize that today’s wide range of touchpoints are an opportunity to deliver additional value to the consumer and improve their overall omnichannel experience. To translate customer data from these touchpoints into business value, financial institutions must have the ability to blend their massive volumes of data into a single point of control over data, decisions, and interactions.

It is only when financial institutions have the most complete, immediate and accurate understanding of their customers that they can leverage effective, data-activated marketing. According to McKinsey, this can boost total sales by 15% to 20%.

However, organizing data into a single point of control is easier said than done. Here are four crucial steps that will help financial institutions prepare their data for optimized omnichannel engagement:

  

CLICK HERE TO CONTINUE READING

Privacy Policy