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Financial Marketers Can’t ‘Personalize’ Anything with Junky Data

Generic name on thin cracking iceAll the talk about artificial intelligence, personalization and one-on-one marketing flies in the face of the reality at too many banks and credit unions where 'knowing the customer' is limited at best. Data first, marketing second should be your mantra in today's high-stakes marketplace. The change will take time and effort but can begin with some simple steps.

Many bankers love to say they know their customers by name. In person, that might be true. But if “we know your name” is part of your brand, you must deliver on that promise not only in person, but online and by mail. Otherwise you’ll be left standing still while competitors zoom past you.

Customized customer communications should be first in the rulebook for financial marketers, yet this is often an area that gets glossed over.

Case in point: An employee recently left our company and her corporate credit card was closed. The letter sent to our office confirming the account closing was addressed to her. Here’s what it said: (read more)

This article first appeared in The Financial Brand. To read the article in its entirety, click here.

If you need help creating more relevant, more targeted communications, schedule a meeting with Martha Bartlett Piland.

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