Finance
From data to customer value for financial services companies
Banks and insurers have enormous amounts of customer data at their disposal, but it is often difficult to make real use of it. Data is spread across departments, is not always up to date and may not simply be supplemented via the BRP (National Register of Births, Deaths and Marriages) because of privacy laws. The result is that customer profiles are incomplete, important changes in the customer relationship go unnoticed and campaigns are less effective.
The challenge
In the financial industry, reliability is crucial, but it is precisely that diligence that makes data-driven marketing complex. Customer moves, deaths or changes in business relationships are not always recognized in a timely manner. As a result, customer profiles lag behind reality and it becomes difficult to make the most of cross- or upsell opportunities.
In addition, marketing and CRM teams need accurate, up-to-date data to properly target campaigns, especially for large seasonal promotions such as fall campaigns. Without a complete customer view, personalization remains limited and customers feel less relevantly served.
The solution
EDM helps financial institutions update, connect and better utilize their customer data, fully within the framework of the AVG. Combining data with external data sources, such as demographic and business characteristics, creates a more complete customer picture. This allows marketers to better segment, recognize life-stage changes such as cohabitation, family expansion or a move, and respond to new customer needs. It also makes it easier to spot commercial opportunities, such as when business associates are operating at private addresses.
The result
With current and reliable customer data, financial services companies achieve higher conversion rates, more relevant communications and stronger customer relationships. Data transforms from administrative burden to strategic tool for growth. Thus, EDM helps financial institutions transform their data power into customer insight that is regulatory compliant, effective and forward-looking.
Wij staan voor je klaar!
Do you have questions, are you curious about what our services can do for your organization, or would you like a free consultation?
Please leave your details here and briefly tell us how we can help you; we will contact you as soon as possible.