As consumers browse internet sites, they encounter curated content and ads that appeal to them based on their browsing history and data they voluntarily share. But what do consumers think about this practice? Is personalization valuable to them, or do they resent the intrusion?
A new Salesforce State of the Connected Customer report indicates that 66% of customers now expect companies to understand their unique needs and expectations. Prevailing consumer opinion favors personalization, and the majority of customers are giving you license to use data to improve their experience.
Based on this statistic, you would expect companies to have strategies in place to collect and use data from their customers. However, according to the same Salesforce report, only 32% of executives say they are able to turn data into personalized prices, offers, and products in real time across channels and touch points. Most companies aren’t using data as a tool, and subsequently they’re missing out on an opportunity.
Many of your accountholders use a variety of financial institutions for their banking needs, and the idea is to harness this data as a tool to drive customer engagement and promote loyalty. Your institution can use data intelligence tools to gain insights about your users’ financial relationships, including information about third-party transactions, loans, credit cards, mortgage payments, investments, and savings. With access to data about your users’ banking habits, you can deliver targeted messages and offers directly to these users.
Gathering the data and knowing what to do with it are very different things. A good solution is to incorporate a data intelligence strategy to help you capitalize on your customers’ financial information. A digital banking provider like Apiture can help you build a data strategy. With the power of data, you gain the tangible benefits of improved satisfaction and loyalty, and your customers will appreciate the enhanced personalized experience. Talk to us if you’re interested in learning how data intelligence can help your institution.
