Marketing is an essential part of every organization. Statistics could be more positive when it comes to bank marketing. Bank marketers have a hard job and need accurate targeted data to create very specific campaigns and confidence in their reliability. It's an ongoing problem to resolve. Help focus marketing campaigns that will generate measurable results and outcomes without crossing the creepy line.
⭐ What is Baader Meinhof phenomenon: bank marketers indicated they have access to a lot of data useful for marketing. 01:39
🔵 Profitability is important data, and it's not ranked high enough: if a nonprofitable customer leaves your bank for a competitor, your overall profit goes up. 02:50
👉 Bank marketers are getting more comfortable using the data they have access to, but they are still not very confident about the quality or accuracy of the data they use to make marketing decisions. 03:57
✉️ Get very granular about the specific subset of customers or prospects: snail mail marketing is incredibly effective if targeted to a particular subgroup to which its appeal is uniquely tailored. 04:53
🔴 Give our marketers accurate, targeted data that will enable them to focus marketing campaigns that generate measurable results. 07:56
Links:
Marketing’s role in data analytics: https://bankingjournal.aba.com/2022/08/marketings-role-in-data-analytics/?utm_source=eloqua&utm_medium=email&utm_campaign=newsbytes&utm_content=NEWSBYTES-20220824
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