4. Automate Multichannel Marketing Activities
Acting on account holder data means actually reaching out and connecting with them in meaningful ways. To do that efficiently, FIs need to take the insights learned through merchant payment cleansing and integrate that data with a turnkey multichannel marketing solution to deliver the highest level of targeting efficiency and relevant messaging. Most importantly, the digital use cases can accelerate revenue generation for both current members and acquisition campaigns.
Automating delivery to this channel increases the capability for on-demand quick campaign building, closing the time gap for most marketers while delivering a conversion-rich form of digital marketing.For example, spend analysis could indicate that a particular account holder has started making mortgage payments to a competing FI. A marketing integration could take that information and target that account holder with a relevant refinancing offer. In other use cases, where individuals may be identified as outdoor enthusiasts based on their purchase history, marketing photography can be tweaked to reflect those interests and create a stronger connection.
The key is to achieve alignment between data insights and marketing automation to deliver account holder experiences that are compelling, timely and relevant.