The adspace across Google, Meta, Twitter, LinkedIn and similar channels have become too cluttered in today’s times so much that its extremely difficult to get the attention of a customer who already has a reduced attention span.
Consider an example of a crowded party and drawing the attention of a person using “hey!” vs “hey Savneet!”. The personalization of name to your addressal will definitely lead to a higher chance of drawing Savneet’s attention among the crowd & chatter.
Customers today are gravitating towards brands that feel like they listen to them, understand them, and pay attention to their specific wants and needs. That’s where personalization comes in.
In today’s increasingly competitive marketplace, delivering contextual customer experiences is no longer a “nice to have” — it’s an expectation!
“ 91% of consumers are more likely to favor brands that provide personalized experiences with relevant recommendations and offers ” – Accenture Survey
“48% of consumers have left a company’s website and made a purchase elsewhere. The only reason: the experience was poorly curated.” – Accenture Survey
With the rise of digital channels and the increasing availability of data, Fintech companies can leverage personalization to deliver targeted, relevant, and engaging experiences to their customers.
Here are some ways personalization can be used to drive Performance Marketing:
1. Personalized Content: Data Analytics can be utilized to understand customers’ preferences, behaviors, and needs, and develop personalized content that resonates with them. This includes personalized emails, social media posts, app & web content that speaks directly to the individual customer.
2. Predictive Analytics: By using predictive analytics, fintech companies can anticipate customer needs and offer personalized recommendations in real-time. This helps to improve customer engagement and satisfaction by delivering the right product or service at the right time.
3. Tailored Offers: By analyzing customer data, developing tailored offers that are relevant to each customer’s needs and interests. This could include personalized loan offers, investment advice, or insurance recommendations.
4. Customized Content over App & Web: By developing customized content on app and web for different customer segments, engagement, retention and conversion rates can be improved by delivering a more relevant and personalized experience. Customized Content can help make sure that all collected data goes toward developing the ideal user experience, which will go a long way in keeping users coming back.
5. Personalized Communications: Using personalized communications to keep customers engaged and informed about the new products and services. This could include personalized newsletters, alerts, and notifications that are tailored to the customer’s preferences.
In summary, personalization is the key to effective digital marketing in fintech. By tailoring marketing efforts to the specific needs and preferences of each customer, we can improve customer engagement, loyalty, and retention, to drive growth & profitability. For more details please write to us at firstname.lastname@example.org
Savneet Singh Grewal – Associate Director, Fintech
Related Article: Life beyond Google and Facebook for a Performance Marketer