The amount and variety of data flowing into your bank these days is, frankly, mind-boggling. Add customer mobile, social media and online activity to routine face-to-face and ATM transactions, and it’s safe to say you have a very good idea of what your customers are doing. Or, you would – if you could only stop the stream for a minute to analyze the data. For financial services marketers, this influx of information presents both an opportunity to understand clients better, and a huge challenge.
IBM recently surveyed 358 marketers to better understand how they are operating in this new data-rich environment. Everyone agreed on the need to improve critical marketing capabilities: uncover new insights, identify and capture new markets, and engage with individual customers. Unfortunately, only a handful of marketers actually claimed to be “highly effective” at achieving those goals.
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