You’ve probably heard the term “data-driven” more times than you can count.
It’s everywhere. From sales to marketing to operations, financial institutions want to do everything they can to be “data-driven.” But, this can often be a cliché if it’s not used as the foundation of an actual plan, strategy, or business effort.
When you take your bank's CRM data and apply it to real business and marketing decisions, it can be the difference between meeting expectations and exceeding them. With the banking industry accounting for 14%, or $22 billion of worldwide data analytics revenue, there is significant opportunity to use data to your advantage. It’s just a matter of identifying the right data to use at the right time to land the right customer.
A robust CRM provides you access to this data, so you can turn leads into customers and customers into bank loyalists. Here are a few types of CRM marketing data to focus on as you build a data-driven strategy.