How Localized Engagement Can Benefit Financial Service Brands’ Personalization Strategy
Brands are constantly on the hunt for the newest way to personalize their customer experience.
These days, it’s so imperative to treat your clients as individuals, not a part of a vast marketing segment. In fact, about 60% of consumers expect a tailored experience, according to a recent Salesforce study. Brands need to customize everything along the customer journey.
One unique tactic that some brands are taking advantage of is localized engagement.
Financial services brands can use and benefit from geo-targeting and localized engagement in a few ways. Customers in different states or countries will likely have a different customer experience and personalized needs. And the ways to market to them are going to be vastly different as well.
By utilizing a customer experience management platform and the array of customer data at your fingertips, financial services brands can make a closer connection with their customers. Consider the below example:
Your bank has been regional for some time and is expanding into a few new markets. To home in your marketing efforts to generate demand in that area, you hire a star athlete for their local NFL team. Your bank can promote this new partnership within a geographic parameter that would be relevant to the population. You might not want to hire Tom Brady to potential customers in Buffalo or Alex Rodriguez in Boston. By localizing your marketing efforts, your team can drive better results and personalize your customer experience to the local community.
Or how about this:
Your bank wants to retain your travel credit card customers during the coronavirus pandemic. Your customers haven’t been able to travel, and the annual fee makes less sense suddenly. To promote keeping these cards active, you decide to partner with local businesses that customers can earn and redeem points for. But a Baltimore restaurant won’t be relevant to Denver customers. So, you decide to utilize localized engagement by promoting local partnerships within a defined community. You promote that Baltimore restaurant in Baltimore and maybe you promote a Denver grocery chain in Denver. Your customers are happy they can continue benefiting from your products and had personalized service to empower them.
Financial service brands can greatly benefit from localized engagement in a variety of creative ways that can help anything from your marketing efforts to customer retention. Brands will see incredible benefits to an intelligent personalization strategy and homing in on their location can benefit both your brand and your customers.
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