BANK AND CREDIT UNION MARKETING

The Importance of Personalization

The Importance of Personalization

What’s in a name, you ask? Everything. People respond to their name. Research indicates that even children under sedation respond selectively to the sound of their first name (ncbi.nlm.nih.gov). What does this mean for your marketing efforts? Again, everything. A recent article by The Financial Brand says, “Thirty-three percent of consumers who abandoned a business relationship did so because personalization was lacking” (thefinancialbrand.com).

Personalization means more than just using a recipient’s name though; it also means promoting products and services that appeal to a person’s specific needs and wants. The Forbes article “Why Marketers Must Think ‘Personalization’” explains: “Today, people have access to a wide range of content from…an obscene number of channels. Due to this deluge of information, people naturally get their interests piqued by content that is tailored to their interests and needs. All the rest just flows on by and never gets a read. Personalized content talks directly to your target audience and offers the exact solution they are looking for” (forbes.com).

The good news is that image.works offers easy, effective ways to increase personalized marketing for your financial institution.

Marketing Automation 
This powerful tool enables you to transform accountholders and prospects into trackable leads, letting you see when those leads visit your website, which pages they’re viewing and for how long. It can be used to target specific individuals with drip email campaigns that are triggered automatically based on your leads’ website activity and email clicks. It’s a win-win! Your audience receives marketing messages personalized to their interests, based on what they’ve been viewing online, and you get to send these messages without any extra effort on your part.

Targeted Mailing Lists
image.works can tailor your list of recipients to any demographic in any geographic region, such as by income, homeownership, model credit score, recent move, vehicle and more.

Personalized Direct Mail 
We can include recipients’ names on direct mail pieces, as well as on email messages and online landing pages. In addition, we can do all of the above for your next promotion with cross-media marketing to achieve unmatched results. Check out this example.

When Aspire Federal Credit Union, located in Clark, New Jersey, was looking for options for their skip-a-pay promotion, cross-media marketing from image.works was the obvious answer. We created a campaign that included direct mail and follow-up email blasts, enabling Aspire to reach over 2,000 members with multiple hits. Personalized websites included on the direct mail letter, as well as dynamic QR codes and follow-up emails with recipients’ names, grabbed attention and made it easy for them to find more information. 17% of recipients visited their personalized websites, and pre-populated fields made it easy to fill out an application. The result? “This was our best skip-a-pay promotion yet,” said Alexia Mavrakes of Aspire. Aspire approved 426 skip-a-pay requests – generating $30,260. 

With all the ways to personalize your message, there’s no reason not to – and the benefits are big! “Personalization drives results,” says Forbes contributor Stephen Diorio (forbes.com). You can start today by talking to an image.works representative.

Sources:
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC1647299/
https://thefinancialbrand.com/69126/intelligent-personalization-banking-ai-data-trends/
https://www.forbes.com/sites/danielnewman/2015/03/25/why-marketers-must-think-personalization/#4d14ac53767e
https://www.forbes.com/sites/forbesinsights/2016/02/11/how-marketers-are-driving-growth-through-personalized-content/#6f9136c370f9

Posted by Charity Wanta - January 02, 2019