Effective communication is more crucial to successful customer relationships than ever before. It’s 2022 – so what constitutes effective communication? It’s important to understand that consumer expectations over recent years have not just evolved, they have been dramatically transformed. Consumers expect brands to truly know and understand their unique needs and desires. Then, they expect to be connected with in multiple ways at multiple touch points with a consistent cadence and relevant content. Today, many brands are transforming their internal infrastructures and skills in order to meet these demands. It should be no different for the Financial Services industry.
Financial institutions need to deliver messages, campaigns and promotions that hit the mark. If they don’t, your customers/members won’t value the communication, or worse, they’ll view these unnecessary touchpoints in away that is damaging to your brand. Fortunately, it’s 2022. Today, automation that utilizes consumer/business intelligence and AI to power personalized experiences takes the guess work out of identifying the right messages at the right time for your customer base.
To create high quality engagement in a time where communication clutter is higher than ever before, FIs need to transform every communication into a unique engagement opportunity. Banks and credit unions that take the time and effort to utilize the data they already have (aka invaluable “first-party data”) can demonstrate true connection and create relevant content that reaches each banking consumer individually and uniquely on their financial journey. Effective communication becomes a powerful force when focused messaging and promotions reach the right targeted audience and is combined with 1-to-1 personalized messaging and creativity that sets it apart.
With fewer branch locations than ever before, and more branch closures likely on the horizon, FIs need to deliver unique, high-impact digital experiences to stay competitive. As consumers rely more and more on mobile devices for everything including banking, the need for full digital access with excellent delivery grows more critical as “nearly half (49%) of U.S. online adults say they should be able to accomplish any financial task through a mobile device.”
Well-crafted digital experiences targeted to each customer provide a personalized financial experience that includes specific actions they can take to help them on their unique journey. FIs that communicate relevant content visibly convey their understanding and support of their customers/members’ needs and desires. This is especially important during a time of rising economic uncertainty and the highest rate of inflation seen in decades. FIs that are continually helping consumers navigate these circumstances by offering them the right solutions at the right time in their financial journeys are going to be the ones that thrive in the times ahead.
DeepTarget helps financial institutions grow by simplifying digital marketing to deliver amazing experiences that result in up to 10X more sales and lasting relationships with their digital users through an ever-expanding Digital Experience Platform.