Marketing for financial services: Improving customer insights using marketing data

This blog is part 1 of a 4-part series marketing for financial services

How well do you know your customers? If you ask the average marketeer at a bank, insurer, or financial service provider this question, the answer is often “quite well”.  But is this really true?  Particularly when customer preferences change more rapidly than ever before?


Companies in the finance sector have access to more customer data than an average company.  Commonly however, that data is not shared within the organization and therefore, not used efficiently.  The solution is to leverage marketing automation to properly access the data and acquire the right customer insights.


Customer insight for financial services is necessary to (re)gain and retain customer trust

Trust in the financial services sector has fallen significantly in the last few years, according to the 2021 Edelman Trust Monitor. This same study also indicates that service providers can most rapidly regain trust if the quality of the data and information provision is safeguarded.

Insight into customer data is essential to be able to provide the right information. Subsequently, using customer data correctly to deliver the right message to the right person at the right time is a job perfectly suited for a marketing automation platform.

A 360-degrees customer profile using marketing automation

As concluded previously, most financial service providers have ‘heaps’ of data. However, a 360-degrees customer profile is often missing.   An overview of customer (or prospect) touch-points within the organization includes behavioral data, such as visits to the website, social media activity, app activity, or email click-throughs. This behavioral data is combined with profile data: the information already in a database, such as name and address details, financial data, and existing contracts.

Using a correctly designed data infrastructure architecture, this profile can be completed in a marketing automation platform.

Using customer insights for personalized communication in finance

Because the marketing automation platform offers a complete customer profile, it is possible to deploy personalized communication on the web page and in emails, chats, and advertisements. Examples are personally following up on customers and proactively offering a combined package based on demonstrated interest. This interest can be derived from the behavior of the customer on the web page or in emails. This enables a (potential) customer to receive the right information at the right time.

Do you want to learn more about the use of marketing automation in the financial services sector?

Organizations like NEDASCO, PayingIt, Standard Chartered Bank, and Fuse Capital are already using marketing automation. We have helped them select and implement the right platform, and – the most important thing – achieve the right results by making smart use of data in campaigns and communication. We do this around the globe. Do you want to learn more about this? Schedule an appointment below: