Executive Preview
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.
What’s in the full report?
In the full “Bank CMOs and Personalization” report, Insider Intelligence analysts detail the personalization strategies marketers at financial institutions (FIs) should pursue as economic uncertainty clouds the future.
3 questions the full report answers:
- What personalization strategies should marketers at financial institutions (FIs) pursue, as economic uncertainty clouds the future?
- How can CMOs lead personalized sales for the long run?
- What are some practical challenges to the personalized journey?
What are some key takeaways from the report?
- More than 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.
- Decades-old infrastructure used alongside modern tools exacerbates FIs’ data challenges. To combat this, more than a third of data and analytics professionals in the US, the UK, and Germany will allocate their organization’s budget to breaking down data silos this year, per a February 2022 Genpact and Corinium Intelligence survey.
Who is this report for, and why do you need it?
This report is critical for all Chief Marketing Officers and marketing leaders at banks, fintechs, wealth managers, or any other financial institution.
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.
