Every industry is learning the value of tapping into customer data to improve marketing efforts and connect on a more personal level with their target market. This banking resource can help ensure that your promotional materials reach the right people at the right time. Here are a few ways that accessing data can improve the customer experience and help you nurture customer growth:
Delivering the right marketing materials: You can create a beautiful mailer with engaging graphics for a promotion that’s sure to capture the attention of your target market. Unless they never open the mailer, that is.
It’s important to know what types of materials are most effective at reaching your potential customers. Using analytics, you can find out where your new customers are coming from, and which types of marketing are reaching them most effectively. Maybe they don’t open your mailers, but they do see your ads on social media.
Adding value with content: In addition to sending out regular promotions, you also need to recognize your knowledge as a valuable banking resource for your customers. Create content that adds value to your audience, such as a blog post that explains a new type of home equity loan that’s available or offers insight into new regulations that affect small businesses. This type of content builds your reputation as a source of trustworthy information and gives a clear message that your goal is to help your customers.
Invest in personalization: The customer experience is dominating business activities because customers expect more than just a mass marketing effort from their preferred brands and companies. Personalization is key, and customers will be loyal to a brand that “knows” them and their preferences, offering them products and services personalized for them.
You can access the data to determine your customers’ preferences. For instance, do they click more often on emails that contain certain words in the subject line? Perhaps you’ve measured an increase in social media engagement when you feature a guest from the local community on your blog.
As you gather these analytics, you can begin to see how different segments of your target market interact with your bank, providing you with the information you need to further personalize your marketing efforts.
Watch customer analytics and customer experience feed one another: As you develop your strategy for personalization, you’ll see customer experience improve. Likewise, as you learn more details about what makes a customer experience ideal, your analytics will sharpen. Your marketing strategy will become more refined and more effective at nurturing growth.
Data analytics is just one banking resource that ICBM strives to help our members navigate. To learn more about membership and the many benefits it offers, make an appointment to talk more with us. We look forward to hearing from you!