Marketing is essential for financial institutions not just for generating leads, but for increasing profitability within the existing customer base. When faced with many products to promote, a large customer base, and a seemingly endless number of potential customers, it can be tempting to resort to mass marketing. However, mass marketing often results in non-specialized communication efforts that tend to be ignored. Today’s consumers want and expect customized communication. Your marketing strategy needs to be specific to your products and their respective targeted demographic.
With a greater customer focus, your targeted marketing efforts can actually increase customer support and retention, allowing you to discover greater profitability while utilizing one, cost-effective platform.
Customer Service
DeepTarget supports cross-selling appropriate products to individual customers. This means promoting products that they need or want so your communications do not waste their time or inbox space. In addition, it can also send personalized, relevant messages to your account-holders. Relevent communications shows account-holders that you know and appreciate them by sending them messages and offers that meets their current needs and/or life objectives. These automated, intelligent digital marketing products segment your larger audience tailoring each message to be meaningful to the reader. These efforts are appreciated by customers and can give your financial institution a competitive edge in a competitive environment.
32% of American digital banking users are willing to leave their current banking relationship for a better digital experience. Cite: Online poll of more than 1,600 digital banking users conducted by Harris Poll and D3 Banking Technology
Customer Retention
The move to a greater customer focus is an attempt to see things from a customer’s point of view. This perspective will enable the best engagement and best results of marketing campaigns and initiatives. DeepTarget’s fine-tuned cross-selling ability ensure that your customers can benefit from more of your products, and become more loyal. Loyal customers are typically more profitable customers. There are no acquisition costs, they tend to buy more products and services, and they are more likely to try out new ones.
“Members are expecting more out of their mobile and online banking experiences now than ever before, and credit union executives must elevate and expand the features and functionality they provide to their members, or risk becoming uncompetitive.” – Michael Ogden, Credit Union Times
DeepTarget’s platform allows your products, services, and special offers to display concurrently on multiple channels with custom messaging 24/7 so you meet your account holders whenever and wherever they are. Using your customer knowledge and automation variables that include first name, age, gender, location, credit rating, financial info, loans, CDs, and more, DeepTarget cross-sells relevant products with clear, targeted messaging for better sales results that your customers appreciate.
Cost Effective
One of the biggest advantages that DeepTarget provides is that a single communication platform can be used to deliver messaging and campaigns through multiple channels. Your data is processed securely once, and the resulting offers – unique for each of your account holders – are used to deliver messages in multiple channels. Increase efficiencies with a more focused solution that acheives higher sales while storing campaign results together. Our technology puts usability at the forefront, meaning less time to for training, deployment and ramp up, and more time generating results that drive revenue.
It’s the age of the customer. It’s time that banks and credit unions improve their understanding of an increasingly powerful customer base in order to gain a competitive edge. Today’s financial services customers research, evaluate and choose financial products and services by accessing a wide variety of online material. As a result, there has never been a time when technology has had a greater impact on financial institutions’ revenue performance.
We have done the work for you. Our data driven platform is built to help you achieve your income targets, enhance customer service, and increase customer retention and cross-selling. What are you waiting for? It’s time for tangible, communication-generated improvements to your bottom line.
