The role of marketing teams is changing. A recent study – The 2016 State of Marketing – published by Salesforce Research indicates that high performing marketing teams are shifting their mindset and tactics, taking a more intelligent approach to stay ahead in changing times. These teams are moving away from marketing at customers and toward connecting every touchpoint into a cohesive customer journey. According to the study, these are the top five things high performing marketing teams do better than their peers, with tips from us on how financial institutions can apply them.
Adopt a customer journey strategy
The study defines the customer journey as all interactions customers have with a company’s brands, products or services across all touchpoints and channels. High performing marketers are mapping these journeys to better understand what the buyer does and how she thinks along each step of the buying journey.
Financial institution application: Compare your brand’s delivery channels. Do your marketing materials, website and branches all have the same look and feel? Also, study how easy it is for your consumers to find something (rates, loan products, checking information, etc.) on your website. Research what it’s like to use your bank or credit union’s mobile applications. In other words, look at how your consumers interact with your financial institution from their perspective.
Integrate the customer experience
By bridging the gap between marketing, sales and service, high performing marketers create a single view of the customer’s buying (or in your case banking) behaviors and deliver a unified customer experience.
Financial institution application: Give your customers or members a memorable, unified experience at every touchpoint, be it phone, app, e-mail, online chat, text or in person. If a customer or member initiates an online chat about a loan, capture that conversation so it can continue if the consumer chooses to call or apply in person. Start creating a behavior profile for each consumer by documenting customer service issues, sales conversations and marketing interactions all in one system.
Invest in the latest technology
Top performing marketing teams are more likely to use marketing analytics and predictive intelligence, among other technology tools. According to the study, “72% of top teams will increase spending on marketing tools and technology in the next two years.”
Read the remaining tips in the April newsletter posted on our website. Also read about “grocery store karaoke” and what version of that you can adopt to enhance your financial institution’s brand. When you have the right atmosphere, consumers will respond.