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Customer Acquisition in Banks: Most Inspiring Ways to Reach Out to Customers
This post provides inspiration for everyone looking for new ways to gain customers’ love. Having studied banks’ advertising campaigns, we have selected the most outstanding promotions from financial organizations around the world. Afterwards, we will analyze the anatomy of the remarkable and effective customer acquisition campaign.
So, grab yourself a cup of coffee and make yourself comfortable!
1. Our rating is topped by Barclays. A British multinational banking and financial services proves its ability to leave emotions aside using just a set of artwork.
2. The runner-up prize goes to a privately held bank based in Lakewood, Colorado. FirstBank is spreading news on its around-the-clock customer service through glow-in-the-dark electroluminiscent road billboards.
3. The third most attractive advertising campaign is launched by a Stockholm-based financial services group operating in Northern Europe. Nordea Bank helps their clients find better ways to use the traditional piggy bank: obviously, the customers’ personal funds are from now on in safe hands!
What is the source of these bright concepts? What secret weapon did the authors of these creative campaign use to impress the public? The answer is – knowing your audience. Establishing the profile of the target customer, having studied their demographics, tastes, preferences… and even fears and secret desires.
Some people wish to estimate the budgets involved in these campaigns, along with their financial effectiveness. While we can provide some insight on this, we would rather focus on the following questions:
Data modeling and predictive analytic techniques analyze customer behavior to produce insights on the target audience. Business intelligence tools for behavioral analytics help you to better understand your customers. And, the better you understand your customers, the more effectively you can design, implement and launch promotions and customer outreach campaigns.
Application of predictive analytics goes beyond planning marketing campaigns. Used in credit line management or portfolio processing systems, data modeling solutions help to automatically segment and rate accounts. This allows you to select the optimal pricing, manage particular accounts or the entire portfolio more efficiently and thus greatly increase customer loyalty.
Despite the widespread opinion that a creative spark is all that is needed for a successful campaign, analytical and objective understanding of your audience is also essential to design an effective promotion. Furthermore, decision automation techniques and solutions can significantly increase the effects of customer acquisition efforts, reduce costs and help every financial organization gain customers’ trust.