Customer acquisition is difficult and expensive, but acquiring the right customers affects everything else. Learn how creating a holistic acquisition strategy supports your sustainable growth.
For many financial institutions, 2020 was a year of rapid growth.
The Paycheck Protection Program brought in billions of dollars in new deposits and fee revenue to institutions across the US, according to the Small Business Administration. Mortgage rates were low, and customers leaned on their financial institution during difficult times.
Although many people think of CRM as just a technology, it is so much more than that. CRM technology without CRM strategy will never be successful. With 2020’s unprecedented changes in customer behavior, accelerated digital evolution, and ever-present data problems, it’s no surprise that in 2021 CRM strategy and the technical requirements to implement them…
The term “CRM” doesn’t always conjure up good memories for community banks. You’ve probably heard horror stories and can come up with countless reasons why they don’t work. Why is it so hard to find CRM success? You may have heard they are expensive, that they fail, or that no one actually uses them. If…
Email marketing is here to stay The very first email marketing campaign was sent to 400 people by Digital Equipment Corp in 1978, according to Forbes. Today, there are over 3.8 billion email users – that’s over half the world’s population. Although many different channels (digital, social media, and mobile) have emerged as new ways…
“We know our data is valuable, but…” Financial institutions have more data on their customers than any other industry. The average institution has 500 million data elements per $1 billion in assets. Yet, this strategic asset is often inaccessible and underutilized due to legacy technologies and silos in your IT environment. Most bankers know that…
To many, Artificial Intelligence (AI) seems complex and unattainable. What is it really, and why should community banks take it seriously? How can smaller institutions overcome the many hurdles and objections to AI? What is AI? While there’s no solid consensus on the definition of AI, the phrase is mostly used to describe the multiple…
