Reaching New Heights of Customer Satisfaction, One Personalized Step at a Time

Consumers expect personalized brand interactions, and marketers want to deliver them to stay competitive. But to create relevant and focused messages, marketers working for financial services firms must continue to enhance their data and analytics use practices amid mounting industry disruptions.

More than 78% of consumers will only engage with personalized offers1

Personalization can improve customer experience and increase conversion rates for marketers. Specifically, 68% see a lift in closed sales as indication of personalization success.2

Data can transform campaigns, helping financial services marketers personalize their brand and offers to diverse customer groups. From initial customer recognition — identifying a consumer before direct engagement begins with them — through understanding that customer’s needs and offering relevant products, data can help you communicate with ideal consumers across the channels they use most.

Learn how your financial services organization can start the personalization journey and improve customer experiences. Read on to discover four essential steps that can lay the groundwork for helping you leverage data and analytics to enhance your customers’ experience through improved personalization.

Scale challenges with a data-driven understanding

If your current view of customers is based solely on proprietary data, it may lack the hyper-relevant insights needed for key business decisions such as household makeup, estimated spend capacity, wealth, credit availability and estimated income.

Fresh, differentiated data can help you lay a better foundation for a long, high-value customer relationship. These data enhancements can help ensure the right audience receives exposure to your marketing messages and offers — and can help you personalize a digital strategy that’s more likely to perform.


Learn how unique data, innovative analytics, technology and expertise can help you drive profitable growth.

Want to see the full webinar? Click here.



Most financial services organizations are providing some form of personalized, multi-channel customer experience. You will get a good idea of what products and services your customers will need next by linking the customer data generated around:

  • Deposit account transactions
  • Credit card purchases
  • Home purchases
  • Number of children and presence of a spouse
  • Assets
  • Credit
  • Income
  • Home value

Then, by enhancing your internal data with the addition of rich economic data, you can confirm that your customers and prospects have the resources to get a second mortgage or open a new line of credit, saving both you and them from the embarrassment of a stellar offer going sour when a credit check fails.

To stay ahead of your competitors, you need fast integration of new data collected across your enterprise. This data linkage can help provide a more holistic picture of your customers, which is a key to personalization. When your data is linked, both internally and with third-party sources, you’ll not only see transactions made, but also the many ways customers engage with your brand — online, through a mobile app or at a brick-and-mortar location.

Linking your customer profiles with additional data insights may also trigger other important insights about their lifestyle and purchase behaviors — information you can use to more effectively market your products and services. Get a more comprehensive view of your customers so you can more intelligently talk to them across all your brand channels.

Be a step ahead by anticipating customers’ next need through predictive insights

Because consumers expect immediate gratification in their experiences, it is imperative for organizations like yours to develop personalized customer journey strategies and relevant campaigns based around them. Reliable intelligence can help you better address small segments of buyers, therefore accelerating their engagement, conversion, satisfaction and retention.


Learn why every step of the customer journey can be crucial to your customers’ decision to buy, open an account or invest with your organization.

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Which factors matter in predicting the next best product or service for your customer and prospect groups? Behavioral triggers can expose propensities toward specific product or service adoption. In understanding where your target consumers have been using which financial products — as well as the economic and lifestyle markers most relevant to them — you can help predict their future personal customer journeys. Ultimately, you will have identified the best customer segments that will help you meet your business objectives.

Using this approach of linking proprietary data with estimated income and spending, aggregated credit information, demographic and geographic statistics, one financial institution implemented a strategy encompassing multiple investor segments. It marketed via offline and online channels, including direct mail, Web, addressable TV, and mobile.

When this financial institution used addressable TV ads personalized to its customer segments, it achieved a 30% lift in new accounts opened.

Another benefit of overlaying unique data on consumer households comes when consumers request additional services. Because you reviewed their credit risk potential before inviting them to apply for a home-equity loan or meet with a private banker, you minimize risk by knowing your customers will likely qualify for the products and services they desire before they even ask for them.

Of course, data alone won’t get you the right customers to market to. Integration of data sources, and the use of cutting-edge tools and technology that transcend foundational analytics, can help you create personalized offers that improve customer experiences and the efficacy of your marketing.

Learn how unique data, innovative analytics, technology and expertise can help you drive profitable growth.


Get on top of the channels where customers spend time

You undoubtedly collect data from direct engagement across the channels your customers and prospects use, such as social media, mobile, brick and mortar and the internet. This can help you achieve a data-driven understanding of consumers that highlights their preferred channels so you can create more consistent, personalized messages for the channels in which your customers are most active.

But your multi-channel personalization begins with something simpler: onboarding the actionable, high-potential consumer segments you have developed offline for use in your online marketing efforts. So, the segments you have already identified for relevant targeting through direct mail can also be leveraged for Web, email and social media campaigns.


Regardless of their location or digital device, consumers have nearly constant access to multiple media.

83% of consumers expect a personalized retail experience in person or in app long after they leave a retail location.3

In addition to channels consumers use to research your products and services, you can have success targeting them amid their other activities.



One financial services firm sought to reach prospects with $100,000-plus in investable assets. Using real-time digital targeting segments based on financial profiles, the firm served online ads exclusively to geographies with an average $100,000-plus in investable assets per household. As a result, opening balances on new accounts increased by 88% over past campaigns that didn’t qualify targets.

Power your online display campaigns with the same kinds of customer insights that inform your offline efforts.

Find out more in our new interactive tool about Equifax Digital Targeting Segments.

Take steps to create a consistent experience across digital and brick and mortar

The winners in customer experience recognize that it is a strategic competitive advantage today, not only generating new customer relationships but also greater satisfaction and loyalty among their stalwarts. Robust segmentation helps them drive multi-channel messaging strategies, which depend on new and updated processes that engage technology that’s adept at communicating cross-channel. In this way, through investment in data and digital tools, successful financial service marketers facilitate consistent brand interactions, shifting from quantity of messages to quality of messages through the channels customers prefer.

Delivering consistent messages in a multi-channel landscape may be complex, but to be effective among savvy consumers, your marketing efforts must cover:

  • Online
  • Mobile
  • TV
  • Email
  • Direct mail
  • Call center
  • Other media

By leveraging a third-party vendor that has forged relationships across the digital ecosystem, you will be able to more seamlessly connect with your target audiences through the channels they view, interact with, and experience.

Listen in as we reveal the five steps that can help you improve your marketing strategy with data and analytics.

Want to see the full webinar? Click here.


If you can satisfy consumers’ desire to have more personalized and consistent interactions with you across live and digital touchpoints, you can improve both their brand experiences and your brand performance. Leveraging a third-party vendor can help you overcome impediments in data standardization and quality as well as digital distribution so you are able to communicate with agility.


Multi-channel personalization is critical to customer experiences that can expand your brand’s business where competitors fall short.

The more satisfied your customers are, the more brand loyal they become — and the less likely they will be to switch to another financial organization. Organizations can better retain and grow their customer base, as well as increase customer lifetime value, if they build their brands on a foundation of superior customer experiences, leveraging growing volumes of data and innovative, flexible analysis tools.

Working with a vendor like Equifax who can provide differentiated data, robust insights and relevant digital targeting can help improve customer experience and satisfaction, and your chances of success.


Learn how we can help you with Data-driven Marketing from Equifax.

ABOUT EQUIFAX
Equifax is a global information solutions company that uses unique data, innovative analytics, technology and industry expertise to power organizations and individuals around the world by transforming knowledge into insights that help make more informed business and personal decisions.

FOR MORE INFORMATION:
Info.DDM@equifax.com | www.equifax.com/DDM | 800.210.4323

Copyright © 2018, Equifax Inc., Atlanta, Georgia. All rights reserved. Equifax is a registered trademark of Equifax Inc. Your individual results may vary based on your actual customer data, marketing efforts, product/service type and other related factors.

1. Marketo, Customers Frustrated with Brands that Fail to Personalize, 2016.
2. Researchscape International, 2017 Trends in Personalization, April 19, 2017.
3. NectarOM and Texas A&M Mays Business School, With Holiday Season Weeks Away, New Survey Reveals 83% of Customers Expect a Personalized Retail Experience, November 1, 2017.


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