Financial marketers have stated that cross-selling and increasing financial products-per-household to existing customers are their key priorities. However, marketing budget allocations continue to favor new customer acquisition. To bridge this gap, marketers must understand how customer segments contribute to return on ad spend.
During her presentation at Digital Marketing for Financial Services Summit in New York, Jo Hamburge (Vice President, Strategy Consulting and Engagement Management) outlined how marketers in financial services can create a customer-centric digital media strategies by:
- Connecting customer segment metrics to enterprise financial goals
- Developing financial models tied to specific customer segments
- Creating a digital media investment plan with a forecasted return by customer segment
- Aligning leadership across siloed teams to maximize impact
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