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Personalized Marketing Could Enhance Customer Experience

Wellesley Hills, Mass. // www.redpointglobal.com

Financial institutions consistently place customer experience in their top strategic priorities, but many banks still face the challenges of siloed product lines, channels and business units. Yet, 90 percent of consumers value personalized experiences, and according to The Boston Consulting Group, 54 percent of customers who joined a new bank did so because the new institution could deliver such personalized communications.

“Marketers at financial institutions such as banks and credit unions face an immense amount of challenges in today’s marketplace, including delivering dynamic customer experiences that meet and exceed customer expectations,” said Patrick Tripp, vice president of product strategy at RedPoint Global. “In order to compete, marketers need a way to quickly and easily access all critical data sources and activate them for use in personalized, omnichannel marketing campaigns that deliver real value to customers and the business. RedPoint Accelerator for Retail Banking can support these objectives by acting as a single point of control for data, decisions and interactions.”

RedPoint’s solution seeks to provide financial marketers with the following tools to improve operating efficiency and create a personalized, omnichannel experience:

  • Single customer view: Overcome silos and create a unified and accurate view of the consumer in real-time, accessible by automated engagement systems — or by representatives in branches or call centers.
  • Turnkey marketing channels: Design, orchestrate and measure integrated, contextually relevant marketing programs through turnkey access to email, mobile, social, website and direct mail channels. Pre-configured channels and reports empower marketers to rapidly implement new marketing programs.
  • Real-time decisions: Manage strategies for delivering contextual content to inbound channels. Marketers are empowered to conduct continuous A/B/n testing and goal-based optimization tactics, and can leverage customer outputs to offer the next best action.
  • Retail banking data model and templates: Deploy programs quickly with all of the attributes needed for targeted campaigns, robust segmentation and personalized engagement. Marketers can access out-of-the-box campaign templates like onboarding, cross-sell campaigns and retention campaigns to increase opens, clicks and conversions.
  • Business value delivered: Improve campaign deployment times by at least 75 percent, reduce cost and complexity, positively impact revenue and increase customer retention to drive long-term loyalty and margins.

The solution is built on the Microsoft Azure platform.

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