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How Banks Can Use Personalized Marketing to Grow Inside and Out

Superlative, hyper-relevant experiences through Amazon and Netflix have transformed customer expectations for every industry. And technology is positioning the banking industry to meet these rising expectations. While the bar is high, the good news for banks is that technology solutions have made delivering this level of customer experience possible.

Now it’s up to banks to invest in technology that empowers customer-facing teams to support this level of customization. This article will outline how adopting solutions to execute personalized marketing at scale will spark growth inside and out.

Great Customers Grow Banks

Local relationships are as important today as they were when brick-and-mortar banking was customers’ only option.

You need to pay close attention to customers from your first contact to when they begin to cash in on their retirement account. At every stage of the journey, customers expect personalization. Banks must be able to deliver.

To align with these expectations, the banking industry is trending toward more automation and better tracking of customer interactions. Stay ahead of this curve to achieve the following.

1. Attract the Right Customers

Customers who find personalized experiences “very appealing” are 10x more likely to be a brand’s most valuable customer. If you don’t have the tools to serve up personalized experiences, you won’t capture the attention and the business of your most valuable customers. Have the tech to meet and exceed their expectations, though, and you’ll be rewarded.

2. Build Valuable, Lasting Relationships

Customers today expect bankers to help secure their data and their financial future. Give them many reasons to stay by showing them you know who they are and what they need. If these personal touches deliver the product information they need before they need it, you’ll increase the number of transactions per customer.

Consider these two data points:

  • Accenture’s 2018 Digital Banking Report found that 73 percent of customers expect specialized treatment for being a good customer.
  • Perhaps even more telling: 33 percent of customers who abandoned business relationships did so because their experience lacked personalization.

Given that it costs five times more to acquire a new customer than it does to retain a customer who’s already in your sales flywheel, the incentive to build lasting relationships cannot be overstated.

3. Deliver the Right Products at the Right Time

You already know you can optimize growth for your customers through hyper-relevant marketing. That’s what personal relationships are all about. Customer-facing teams can now manually enter life events into a customer’s digital record and set a workflow to follow up at an appropriate interval. These life changes may include:


  • When your customer finances an engagement ring
  • The month of their planned wedding
  • When they start researching a mortgage on their first home
  • When they rearrange their savings plan around the arrival of their first kid

This kind of detailed timeline will help you send along information about how to choose between an ESA and a 529 before your customer thinks to ask. This is the new baseline for customer experience: anticipate their needs and they will trust you to help them with their next steps in life – forever.

Great Employees Grow Banks

The value of local relationships for banks is the one thing that hasn’t changed since the days of George Bailey. It’s more important than ever to attract and retain employees whose top priority is the customer.

When you’ve got hundreds of prospects, it takes more than intuition to know when to put the right products and services in front of the right people. As consumer expectations grow, banks are looking to unlock the full potential of modern marketing solutions to get the right message to the right person at the right time.

With the right technology, great employees will have no trouble surprising and delighting customers.

1. Have Tech, Attract Talent

To be massively successful, you must have the technology in place to attract top candidates who will become top performers.

Think about it: the best prospects understand that the key to higher LTV is building meaningful relationships with lots of people. Tech enables just that: hyper-relevance at scale. When top performers see that you have the tech that will make customer nurturing not just possible but easy, they’ll be eager to work for you.

You’ll dominate in your market by providing your workforce with the technology they need to succeed, and others will see this success and want to join your team.

2. Nurture Your Rockstars

Once you attract top performers, you’ve got to keep them on board. These individuals hold the keys to the strong relationships they’ve developed with customers.

But be careful: the best performers tend to be entrepreneurial employees who move faster than your organization can keep up. Banks (and other companies that operate within a strict regulatory environment) will never be as agile as individual employees might like.

Solve for this by using a technology solution to give customer-facing employees maximum flexibility within their respective ecosystems. If you give employees the tools they need to grow while remaining compliant with industry standards, they will stay to crush another day.

3. Internal Communications for Internal Alignment

With unemployment continuing its downward trend, talented workers have their choice of employer. This means leadership must effectively message why their bank is the place to stay for the long term. This calls for a strategic communications plan that shares company goals and expectations with employees.


That plan should include a campaign for communicating what the company values, why its work is meaningful and how it measures progress against its goals. In other words: why is your bank a special place to work? It’s not a frivolous question to employees.


In fact, job satisfaction is proportional to the type of impact employees feel they can make. When you define the impact your company has and include in job descriptions language employees can use to measure themselves, you show them how they fit in.


Everyone on staff should be ready and able to describe the impact the organization is making and how they contribute to this mission.

Final Word: Hyper-Relevance Will Win

Banks can continue to foster the best culture by making sure the best ideas rise to the top. That means empowering your top performers to do what they do best: build ongoing relationships that involve helping and guiding customers on an ongoing basis. When you do this, your customers will win big – and they’ll thank you with their loyalty.

Joe Welu is the Founder and CEO of Total Expert, which he started in 2012 in the basement of a real estate office. Fast forward to 2019 and Total Expert is backed by some of the leading venture capital firms in Silicon Valley and has been named the fastest growing software company in the Midwest by the Inc. 500. Prior to starting Total Expert in 2012, Joe co-founded and led one of the top-selling real estate teams in the U.S., achieving over $1 billion in sales volume.

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