Despite what you may think, the life of a marketing data “supermodeler” isn’t all glitzy lunches, dedicated printers, and corner offices. Truth be told, the pressures of not realizing the enormous potential of the massive marketing data available to a financial institution can only add to the stress of hot marketing boardroom lights, daily evaluations, and sleepless nights.
Here’s a behind-the-scenes look at a typical banking data analyst’s day in the age of big data and high expectations:
7 a.m. Hot Shower, Cold Truths
To get connected to the “financial realities,” you need to bridge the gap between what you already know and what you need to know to make your marketing efforts most effective.
8 a.m. Morning (Metrics) Drive
Do you know which metrics should drive your institution’s marketing campaigns? There are seven metrics that every financial services marketer should know, as they are proven to drive performance and boost the top line.
10 a.m. Overcoming Analysis Paralysis
There’s opportunity lurking in your account portfolio. But can you find it? And can you turn it into more households, higher loan balances, and deeper wallet share? It’s time to take action and transform data into dollars by mining data to identify areas of potential growth and developing a strategic plan of action.
1 p.m. Who Is Worthy?
Which account holders are most worthy of your attention? Marrying your own data with purchase propensity models enables you to quickly assess which account holders and prospects have the highest propensity to buy a specific product or service.
3-5 p.m. Self-reflection: Are You a Data Fanatic?
Data and analytics are essential to financial marketers who have figured out how to use them to drive their strategy and tactics. Our 2017 Annual Survey of Financial Services Marketers reveals a 50 percent increase in “data fanatics,” those who use data to drive everything they do, over the previous year.
Data “supermodeler” status is within your reach. But it takes a lot of guts, hard work, and the knowledge to confidently use your data to prioritize marketing initiatives based on strategic value and return, and deploy informed and results-oriented strategies.
Learn how Vericast can help you use your wealth of data to reach your account holders and prospects most efficiently and effectively.