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You know the term CRM, Customer Relationship Management, but it might be hard to explain why it matters to your bank or credit union. With customer relationships at the heart of banking, and technology ever evolving to help, CRM is now the norm across many industries and for good reason.

The news feeds are currently full of the 2023 trend articles. We have waded through the buzz and honed in on what sounds like the best advice for bank marketers in 2023.

As 2023 begins, banks and credit unions are rolling out the plans made last quarter. No doubt some of those initiatives will be just right for what is coming, and some may require adjusting. The prognosticators are appropriately out and about making their own adjustments to what they predicted six months ago. In reading the lists, we have gleaned five trends impacting bank marketers that are worth considering as 2023 begins.

Now is the season for predicting what 2022 will bring. We read all the prominent articles and did the sifting for you. Here are three issues worth your focus.

Everyone agrees a clear peek into the future can be helpful for institutions as they plan for the coming year. Without a functioning crystal ball or a DeLorean-turned-time-machine, we are left to trust industry experts to make their educated predictions. As the requisite “2022 Trends” articles hit the ether, the sheer number of future views can be overwhelming. We decided to cull through the expert opinions and distill the multiple long lists to the most interesting and the largely agreed-upon predictions.

The continued growth of digital-only banks and higher customer expectations has put pressure on traditional banks to change their approaches to customer service to remain competitive and relevant.

One way to augment your bank's customer experience strategy is to formalize a digital customer experience program with measurable goals. This program can provide a framework for identifying improvement opportunities and executing new technology and processes to address them.

One rising trend in the financial services industry is the use of a journey-driven transformation approach to optimize the digital banking experience. As part of this approach, financial institutions are making a concerted effort to organize around the customer rather than their products.

This means tracking customer buying habits and activity to better understand their needs throughout their journey with your financial institution. With access to this valuable data and analytics, banks and credit unions can have confidence they’ll get in front of the right people at the right time, something that is especially important when it comesto seasonal buying trends in banking.

Consider the following top benefits of using your CRM to map customer buying behavior and guide your sales and marketing strategies.