Major finance companies and banks are changing their marketing methodology from traditional to precision-targeted campaigns with the help of database. We can say that, they have opted for data-driven marketing to reach customers and engage with them. Do you wonder about who is behind all these changes? The credit goes to Salesforce Marketing Cloud. With this platform, most of finance companies has transformed the definition of communicating with customers, nurturing the relationship and retaining customers.
Come with us, let’s go deep into how Salesforce Marketing Cloud helps marketing team in finance companies to craft highly personalized and compliant email campaigns to connect with customers and drive conversions.
The Era of Data-Driven Banking
With the growing needs of people, finance organizations are dealing with huge number of customers and their data. Data is not only their name and other information, but also the spending patterns and account activity to credit history and investment behavior. For most of the finance companies the real challenge is not to collect the data, but it is how to use the data meaningfully.
That is where data-driven banking plays a very significant role. With the help of CRM tools integrated with real time analytics, banks can convert the raw data into actional insights. With these insights marketing professionals can tailor personalized campaigns according to the customer needs.
Why Salesforce Marketing Cloud Leads the Way
As we know Salesforce Marketing Cloud is a cloud-based automation platform, but it is more than that. This is designed to provide data-driven personalization at scale. This helps all companies specially finance brands to collect customer data under a smart database, automate customer journey, and track the results of different marketing channels.
Salesforce Marketing Cloud comes with some salient features those help marketing professionals of finance companies to lead the game:
All together these tools help finance companies built long-term trust among their customers through personalized, automated, data-driven communications.
Precision Email Targeting: The Game-Changer for Finance Brands
Email marketing is still an effective mode of digital communication in finance industry, but it requires a special approach for maximum impact. In these days, customers are busy with their daily work, looking for direct solutions, instead of information. Precision email targeting helps finance companies to send messages based on the preferences of customers.
Check how precision targeting is enabled by Salesforce Marketing Cloud in each levels:
Salesforce Marketing Cloud enables banks or finance companies to segment customers based on several parameters like credit card usage, transaction frequency, age, income level and others. Segmenting customers based on these factors increases the engagement rate, and conversion rate drastically.
If we take an example of a bank who is sending messages regarding home loan offers to young professionals, and highly profiled business clients can get messages related to investment.
With the help of Salesforce Marketing Cloud finance companies can create and send dynamic content blocks to customers, that are relevant to their previous inquiry. For instance, if a customer is looking for a car loan, he will get messages and offers related to car loans.
Salesforce Marketing Cloud’s Journey Builder allows financial institutions to automate the emails or messages based on different levels of work flow like submitting a complete application, pending payments, or looking for a financial product. With this finance team can ensure timely management with customers.
AI features included in Salesforce Marketing Cloud suggest marketers regarding the right time and good subject lines with the help of engagement data. This leads to maximum open rates and Click rates.
Building Trust Through Personalization and Compliance
In financial marketing, building trust is important. Customers are very much worried about the safety of their data and communications. With the help of Salesforce Marketing Cloud finance companies and banks can build trust by following compliant rules (according to GDPR, CCPA) and privacy regulations.
Einstein Analytics and Data Studio enable marketers to send the personalized emails without risking security. Each message delivered by marketing professionals through SFMC strictly follows the data governance protocols, so that customer engagement rate is increased and customer data secured completely.
Real-World Example: Data-Driven Campaign in Action
If you want to know deeply how Salesforce Marketing Cloud enhances the effectiveness of Data-driven campaigns. Here is an example of mid-sized bank that want to increase the credit card subscriber’s count from the existing customers.
Using Salesforce Marketing Cloud, they segmented customers based on:
After segmentation, marketers sent dynamics emails with tailored content promoting different credit card types like travel, premium, and cashback for each customer segments. AI features of SFMC tracked the behavior of each customers to open the mails
As a result, the email open rates are increased by 45%, new credit card signup rates increased by 30%, and unsubscribe rate is reduced significantly.
The Competitive Edge: Data, Personalization, and Automation
Data-Driven Banking will not be optional for finance companies and banks now. Finance industry has become more competitive when compared to other industry. Customers are looking for finance companies who can understand their needs and provide immediate offers.
Finance companies can be at the top of the race by aligning the features of Salesforce Marketing Cloud like data intelligence, personalization and automation.
Some the key benefits that finance companies can get by utilizing Salesforce Marketing Cloud:
Future of Precision Email Marketing in Finance
In future more researches and evolution will be going on Artificial intelligence and predictive analytics. As soon as possible finance companies will be using behavioral data for crafting content and complete customer journey.
In future, predictive modeling tracks your current saving patterns and future financial goals and sends you investment portfolio at the right time and you will be followed up automatically at every stages. Most of the finance companies are already embracing this change. If you want toknow who are those players leading the finance industry with Salesforce Marketing Cloud, many marketing professionals use meticulously curated Salesforce Marketing Cloud Customers List.
Conclusion
Data-driven banking is now trending in financial marketing. Salesforce Marketing Cloud plays a very important role in assisting finance companies to personalize customer engagement and build long-lasting trust among their customers.
As mentioned in the article, other finance companies can use the robust tools and insights to improve the results of reach campaigns.
