Two great ways to use data to inform your business-to-business marketing strategy
Luca Naso's insight:
Nowadays the customer's journey is more complex than the classic "sales funnel", it has several touchpoints and continuous back and forths. Companies need an automated system to collect, analyse and leverage all of the information produced along the way.
How to do that? Two common methods are: 1. Lead Scoring, to improve efficiency of marketing strategies 2. Predictive Analytics, to anticipate behaviours and improve ROI
Financial institutions use data analytics to improve their omni-channel marketing strategies, by focusing on what a financial institution can do with data analytics, not on what data analytics itself can do.
Luca Naso's insight:
Marketing has been called more of an art than a science. Yet in today’s financial services environment, the science of analytics is critical in making marketing a profit centre.
HSBC is one of the world’s largest banks and it uses data-driven decision making to optimize channel usage.
Combining the data from channel analytics with information about when to contact a customer and what to contact them about has helped the bank acquire new customers, enhance existing customer relationships and retain profitable customers over the long term.
The channel-centric model that most financial services companies continue to pursue today results in too much siloed information and an inability to develop true omni-channel strategies.
Data analysis should be used to develop a customer decision hub, which determines the minimum and maximum that you will spend to service a customer in each channel, the best moment in time to communicate with the customer and the best interaction with the customer at the best moment in time.
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