Targeted, relevant content is now possible. Financial services are now embracing tech customizations, focusing on personal recommendations based on customer data. Gone are the days of generic ads, replaced by engaging and relevant content. The approach of delivering tailored content isn’t limited to advertising but extends to security, problem-solving, and coaching. Here’s how to consider this approach for your customers.
Communications in Security:
Customers feel valued when they receive specific inquiries about potential fraud on their accounts. It shows that their financial institution sees them as individuals, not numbers. Receiving fraud alerts reassures customers, making them feel secure and cared for. Similarly, notifications about unusual logins or strange purchases give customers a sense of control over their finances. This is targeted, relevant content.
Information Content:
Today, customers turn to their financial institutions not just to safeguard their assets, but also for advice on personal finances. Services such as budgeting tools, innovative investing options, and debt repayment resources are increasingly sought after. To meet this demand, financial institutions must ensure robust data sharing protocols and build valuable FinTech partnerships. This transformation changes the financial institution’s role from a mere service provider to a well-informed partner. Targeted, relevant content builds trust with your customers.
Targeted Relevant Content Offers Improve Results:
Financial institutions can leverage customer data to craft personalized offerings that seem timely and valuable. Institutions can consider loans, special accounts, and suitable investment opportunities as areas to utilize customer data for a well-crafted proposition. This approach deepens the customer relationship, enlarges the customer portfolio, and paves the way for future recommendations. Use targeted, relevant content to continuously improve customer experiences.
Moreover, customer data can help institutions create significant third-party partnerships. These partnerships provide customer incentives for loyalty, like rewards and discounts. Pre-qualifications for offers like loans can streamline the process, ensuring customers get applicable and readily available options.
Proactive Conflict Avoidance Using Targeted Relevant Content:
Financial institutions can use AI and machine learning to understand customer banking behaviors, such as their bills, pay frequency, and typical transfer amounts. By automating this information collection and analysis, institutions can help customers avoid mistakes. For example, alerts about low account balances can protect against overdrafts. Also, knowing a customer’s average transfer or payment amounts allows the system to flag unusual transactions and check with the customer if the action was intentional.
