Can I ask you a question....How do you focus limited resources on those opportunities that will drive profitable growth in a highly competitive marketplace? How do you identify those opportunities within your customer base and within your market?
In today’s highly competitive financial marketplace, you need a competitive edge built on strong analytics, sound strategies, and well-executed tactics.
A fundamental step to get this edge is through effective use of customer segmentation in marketing and sales strategies. Demographics combined with a household-based segmentation system that considers financial variables, purchase behavior, and social metrics enables financial marketing professionals to better understand buying preferences and more effectively target their promotions and product campaigns.
While this tactical approach helps to improve ROI and leads to better targeted growth, the strategic implications are of even more value to gaining competitive advantage and driving sustainable profitable growth.
Analytics becomes ‘actionlytics’ when the right data is integrated with your marketing and sales strategy effectively with desired results.
Critical to strategic marketing planning is understanding your customers in the context of the marketplace you serve. Customer profitability adds yet another element and, when analyzed within the framework of your customer segmentation program, allows you to understand how your institution is able to drive profits. The last piece of the puzzle is understanding your market share and wallet share, segment by segment, product by product.
Strategic planning and expansion planning efforts are enriched with a foundation of strong customer and market analytics. With this new information, customer cross-selling, onboarding, and lead generation can all be executed around an integrated strategic focus and driven through 360 View’s CRM providing marketing and customer-facing staff with the tools they need to maximize each customer and prospect interaction. Therefore, you can focus your limited resources, both staff and dollars, where they will drive the strongest results.
“Actionlytics”, actionable analytics from 360 View CRM, provides a foundation of strong customer segmentation so financial institutions can strategically evaluate their best opportunities for profitable growth and tactically implement sales and service initiatives to retain and grow their business.
Have questions? Or want to learn more?
If you are not taking advantage of the strategic and tactical advantages from using customer segmentation, talk to us about how 360 View can help you take your marketing to the next level.
I am Denise Salyards, the Director of 360 View Actionlytics, and I am here to answer all of your questions. You can reach me directly at 954-474-6716 or email me at dsalyards@360view.com.
