T The Case for PERSONALIZED DIGITAL MARKETING AT COMMUNITY BANKS BY HANNAH DAY, CSI Today’s consumers expect a seamless, personalized digital experience, especially with their financial institution. As institutions look to grow, a one-size-fits-all approach to digital marketing is not as effective as data-driven strategies to personalize and resonate with customers on their chosen channel. Using data to develop personalized marketing initiatives on digital channels can help community banks break through the noise, reaching new customers and deepening relationships with existing ones. Understanding Your Customers: The Importance of Effective Segmentation Understanding customer data and demographics is the first step in elevating your digital experience. At the most basic segmentation level, institutions should be able to differentiate between business and consumer customers. Each of these groups will have different messaging and product offerings. On the consumer side, various segments could benefit your institution, such as high-net-worth individuals, recent graduates or those close to retirement. Viewing your customers in segments allows you to better understand and anticipate their needs, as well as tailor what they see across their digital experience. Examples of segments include: ▶ Life stages: Certain life stages typically involve financial activity, and clues in a consumer’s financial data can indicate which common life stage or event could come next. For instance, a recently married couple has different financial needs or goals than one approaching retirement. If a customer recently had a series of wedding-related purchases and a last name change, there may be an opportunity to offer specific services or products more relevant to that stage of life. ▶ Credit score: Surfacing an end user’s credit score within the digital experience is one of many powerful insights that data can bring to your customer base. Financial institutions could choose to direct educational content toward a group with a lower-than-average score. This approach allows you to determine types of products to market to this group that would increase their financial literacy and education. This segmented approach holds for business customers as well. Your institution could look at transactions for small businesses to determine the health and maturity of the company, providing you with insight into ways you can support them in their business journey. SALES & MARKETING Having flexibility within your digital experience to personalize the messages and locations based on your segment is critical. “ MARCH/APRIL 2025 19
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