Declared Data 101

The Secret to Better Digital Marketing for Financial Services

Whether it’s their first savings account or a complex investment portfolio, financial services companies play a role in just about everyone’s life. 

Given all of the advancements in technology, everything related to financial services can now be handled in the digital world.

Yet despite the advancements in accessibility and ease of use through technology, the digital experiences provided by financial service businesses can sometimes be…lacking and the data…lagging.

Inconsistent experiences across channels or devices, giving information to a customer service representative and then having to repeat it when they transfer you to another department, misunderstanding why you work with them in the first place — these all harm the customer experience. 

And a bad customer experience is bad for both the customer and the brand.

Not only is the overall experience crucial, but so is the timing of advertisements and remarketing solutions. For example, knowing your consumer just bought a house is important so you don’t flood them with tips to get pre-approved for a mortgage.

But when customers just want to do their business and be done, companies are limited in the data they can collect and the connections that can be made. What’s a financial services company to do?

The answer: Provide genuine value in every interaction. 

Ask consumers about themselves and then provide them with personalized results in the moment. Or, check in with them after different interactions with engaging, branded experiences that are fun — rather than a pain — to complete.

Here are 3 of the top ways your business can adopt Jebbit for financial services:

Use Case 1: Progressive Profiling

Use Progressive Profiling to help build complete customer profiles via first-party data. Understand where customers are in their financial journey and what their goals are so that you can provide a more tailored experience.

One of the most valuable uses of first-party data is to understand consumers as their preferences and needs change with them, over time. Relying on one single data point at a single point in time will diminish your chances of providing a relevant, personalized experience at any given time.

When to use Progressive Profiling:

  • Acquisition: Understand the goals of new leads, then support them with personalized educational resources and product recommendations.
  • Reactivation: Understand what they are looking for from you and provide personalized content to re-engage them.
  • Retention: Determine how you can best support existing customers now & in the future to build better relationships.

Try a progressive profiling experience here.

Use Case 2: Net Promoter Scores (NPS+)

Traditional Net Promoter Scores (NPS) are an easy-to-use market research tool that gets quick feedback from customers to understand if they are promoters, passives, or detractors.

But NPS falls short in explaining why customers fall into each category. NPS+ uncovers the true motivations behind each score. Why promoters promote, why detractors detract, and what you can do to make sure that score continues to trend up.

When to use NPS+:

  • When looking for in-the-moment snapshots on sentiment around your service or product offering(s). Best used sparingly throughout the year.

Try an NPS+ experience here.

Use Case 3: Customer/Employee Feedback

Today’s financial institutions face a similar challenge that marketers across industries: competing on customer experience

While tools like progressive profiling are essential to delivering outstanding experiences, it’s equally important to collect feedback on experiences, both from the customer and employee perspective.

Establish continuous feedback loops to get comprehensive, up-to-the minute views into the quality of your customer experiences.

When to use employee/customer feedback:

  • Customer satisfaction: Survey customers after specific interactions, like meeting with a loan officer or relationship manager, or after experiencing a new product.
  • User feedback: Allow employees to quickly log the results of in-person interactions to drive follow-ups and enhance future experiences.

Try a feedback experience here.

There you have it! Our top 3 plays for enhancing the digital marketing experience for financial services. 

Interested in learning more? Watch this quick video below for an overview of the platform:

 

Ready to maximize your digital marketing strategy for financial services?

Published June 21, 2021

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