Leveraging Data-Driven Marketing
Pentagon Federal Credit Union created a digital team in second-half 2018 tasked with tracking online activity and translating that data into actionable marketing strategies, McBride said.
The team tracks the website pages consumers are clicking on, where they spend their time, and what’s driving applications. “Those pieces are critical to measuring how to optimize our site, as well as providing appropriate content to our membership,” he said.
Ally Financial Inc. is leveraging data in a way that more closely resembles the models used by tech companies. Collected data spans multiple dimensions, such as payment activity, loan versus lease, new versus used, number of months left, and payoff requests, said Chief Marketing and Public Relations Officer Andrea Brimmer.
“Combining these elements along with third-party data can create very powerful personalization opportunities, as well as propensity models to help predict future needs,” she said.
Once the data is collected, it is consolidated and organized into “one view of the customer,” Brimmer said, noting that data from the company CRM, website, account activity, and call center is used to “provide a complete picture.”
Then, automated “trigger campaigns” are created to ensure that Ally is meeting its customers “at a time of opportunity,” she said. “The messaging is very specific to the data we collect,” Brimmer said, giving examples such as offering a “special lease buyout” to a customer whose lease is about to end or offering a bank product — like a savings account — to customers after they have visited the bank’s pages.
Ally leverages data-driven marketing tactics on its website, too. “Each experience has multiple content wells and modules that are dynamically served to each customer based on what we know from the data,” Brimmer said, noting that it could be tips and tools, special offers, or products where they have shown interest.
“This will continue to grow, resulting in thousands of possible experiences, driving continued advancements in personalization,” she said.
