A looming recession could accelerate personalization priorities for banking CMOs. If a slowdown puts budgets on shaky footing, marketers will need to marry cost efficiency with long-term strategy. Personalized acquisition and engagement—already crucial advantages—could become business-critical strategies.
Key Question: What personalization strategies should marketers at financial institutions (FIs) pursue, as economic uncertainty clouds the future?
KEY STAT: Over 40% of financial services executives in North America identified greater customer lifetime value as one of the top benefits of delivering highly effective personalized customer experiences, per a November 2021 Forrester survey, conducted on behalf of Blend. This indicates the importance of personalization to the bottom line.
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