With fierce competition among financial services providers it is getting increasingly difficult to win the battle for customer attention. This post studies latest marketing trends and shows how some of the leading players in the space are using marketing automation and demonstrating fresh and intelligent approach to raising brand awareness. Based on their examples, we will explain how you can leverage Big Data on your existing customers and scorecard development services for targeted marketing.
The most remarkable marketing campaigns in the financial industry
Invesco: “Accidental investing: it’s not always that obvious”
A recent advertising campaign of an independent investment management company Invesco is geared towards stressing the importance of prudent investing.
Barclays: “Bank without emotions”
The British bank Barclays has developed a series of print advertisements to illustrate its emotion-free approach:
First Bank: “For the banking insomniac”
First Bank of Colorado in Lakewood turned to innovative electroluminescent billboards that are glowing in the dark to emphasized its non-stop interaction with customers through the around-the-clock customer service.
Nordea: “Give your piggy bank a new life”
One of the major banks in Sweden, Nordea Bank, has a lot of ideas to help its customers find better ways to interact with their favorite piggy banks. Personal funds of Nordea’s customers are certainly in safe hands!
Efficient marketing with Big Data
Accessibility of Big Data enables financial institutions to capitalize on their knowledge of the customer profile and behavior. Integrating these precious insights into marketing activities guarantees competitive differentiation and great response from the campaigns.
“At the end of the day your customer relationships are driven by their reaction to the decisions you make about them. Developing systems to manage these decisions that are agile enough to change when that is necessary, that embed analytics to improve these decisions, and that are adaptive so they can improve over time is a critical need for better customer relationships. ”
You can read more on this subject in James’ book Decision Management Systems. A Practical Guide to Using Business Rules and Predictive Analytics.
By fully exploiting data and analytics on their customers, the forward thinking companies can answer such important questions:
What kind of customer should be attracted by a particular marketing campaign? What is their psychological and demographic portrait? Where and how does he/she spend their time? What kind of next steps suggested by the marketing activity will be most effective for this target group? What is the expected ROI of the marketing campaign?
Our clients who have implemented marketing automation and are supporting their marketing with advanced analytics, are able to accurately answer these questions and thus significantly increase their customer acquisition campaigns.
Author: Anna Zelenskaya | Google+