Too many FIs still not using data to optimize marketing campaigns
Optimizing the customer experience was overwhelmingly deemed the biggest opportunity for 2018 for bankers (36 percent) surveyed a recent 2018 Guide to Financial Marketing report sponsored by Deluxe. Data-driven marketing that focuses on the individual was a distant second at 21 percent which left me wondering if the people who chose other options either have the CX and data-driven marketing down already or if they are just missing the ball completely. For the sake of consumers across the world, I am hoping its the first option.
The “Oh wow!” moment of the report occurs comes when you look at the biggest challenges. Ninety percent of respondents felt that data infrastructure and data accessibility were a major or moderate challenge and 97 percent felt that data analytics tools and capabilities were a major or moderate challenge. Banks are still struggling greatly when tackling data.
Deluxe Marketing Solutions worked with Gatepoint Research to dig into this a little further to understand why this is and how to help institutions dive more deeply into this area. The details of this research are included in an infographic we released called: Using Data to Elevate Your Marketing.
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