Returns on investment from superior customer-centric strategies easily can exceed 20 percent in the first year of implementation. However, this number is compounded exponentially in subsequent years due to repeat business, new customer referrals and customer loyalty.
Learn more about the design and deployment of holistic retail bank customer-centric strategies that synthesize critical information and qualitative banker insights.
To improve your customer retention efforts in 2023, you'll need to leverage comprehensive data, credit education, and digital technology.
Putting customers at the center of your credit marketing strategy is key to achieving higher response rates and building long-term relationships. To do this, financial institutions need fresh and accurate consumer data to inform their decisions. Atlas Credit was looking to achieve higher response rates on its credit marketing campaigns by engaging consumers with timely and personalized offers. The company implemented Experian’s Ascend Marketing, a customer marketing and acquisition engine that provides marketers with accurate and comprehensive consumer credit data to build and deploy intelligent marketing campaigns. With deeper insights into their consumers, Atlas Credit created timely and customized credit offers, resulting in a 185% increase in loan originations within the first year of implementation. Additionally, the company was able to effectively manage and monitor its targeting strategies in one place, leading to improved operational efficiency and lower acquisition costs. To learn more about creating better-targeted marketing campaigns and enhancing your strategies, read the full case study. Download the case study Learn more
When you provide financial wellness services, your likelihood of acquiring customers who make smarter financial choices may increase.