Adobe and Econsultancy recently conducted a study that included more than 300 financial-services executives from around the world. The study revealed that “growth” was the organizational top priority for financial-services companies and projected that digital sales goals will increase by 33 percent over the next three years. This expectation is not only in terms of new-account volume, but also better account quality.
Can your digital-marketing strategy and acquisition-marketing capabilities today meet the increased goals of tomorrow?
Break Down the Roadblocks to Success
Successful acquisition starts with DATA. The good news is — as with most financial institutions — you more than likely have the data you need to create more personalized experiences and, ultimately, increase conversions.
However, some common, well-documented challenges can prevent this from becoming a reality. For starters, the channels that make up a connected customer journey are being managed separately, by separate teams, and using separate tools. Display is commonly managed by an agency, search might be managed in-house, and a company’s website is likely managed by an entirely different internal team. Additionally, customer relationship-management (CRM) data is used for direct mail and email marketing, digital marketing leverages digital behavior — and all of these must converge to be more effective across all channels.
In another recent survey, 61 percent of respondents indicated that improved tool integration would enable them to make better use of their data to support marketing and advertising. Only 12 percent of businesses surveyed indicated that they had a single view of the customer — without which, results include reduced message relevance, response, conversion, and marketing efficiency as well as increased difficulty with attribution.
Start Your Engines!
Here are three ways you can jumpstart the process of accelerating your acquisition efforts.
1. Embrace a Data-Driven Culture.
Creating a data-driven culture is critical to the survival of organizations going forward. Without a solid foundation of data, marketing decisions rely on trial and error — and today’s customers won’t stay with brands that miss the mark. Your organization must be prepared to quickly deliver the most relevant brand experiences at any touchpoint — and carefully executed data-driven marketing is the answer.
2. Take Hold of First-Party Data.
While the use of third-party data is profuse, financial-services firms find the deepest insights about their customers from their own first-party data. By activating and operationalizing your first-party data, you can deliver more relevant content and offers more consistently.
3. Welcome Integration With Arms Wide Open.
Our mindsets must shift with regard to not only how we define the success of our marketing channels, but also how our organizations view integration. With customers jumping in and out of touchpoints, it takes a unified, integrated approach to make sure they have a solid experience to land on. As the world of acquisition evolves, so must your digital marketing strategy — including the integration of marketing and advertising technologies.
Expectations have increased exponentially in this new world of acquisition. Customers want you to know them, and executives demand results from your marketing efforts. Learn more about how the Adobe Marketing Cloud — by uniting marketing and advertising technologies — can accelerate your acquisition marketing.
With the tools and strategies outlined, you can unlock the full potential of your data to better identify the right prospective customers and understand how all your channels are truly performing. You can acquire more, better-quality accounts — and all using less media dollars. It’s not just theoretical anymore — it’s the new reality.
To learn more about using data-driven marketing to attract high-value customers for financial services, read the full report here.
The post How Integrating Marketing Technology Can Accelerate Acquisition appeared first on Digital Marketing Blog by Adobe.
from Digital Marketing Blog by Adobe https://blogs.adobe.com/digitalmarketing/analytics/integrating-marketing-technology-can-accelerate-acquisition/
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