The Financial Brand Insights - Winter 2021

Here are the top five use cases where Financial Services Marketers are using AI: 1. Drive Best Actions Driven in Real-Time 2. Automate Customer Interactions 3. Resolve Customer Identity 4. Personalize the Overall Customer Journey 5. Process Automation Personalization is at the heart of customer communications. To do this well, Financial Services Marketers know they need to gather insights and optimize. Next, we look at the priorities for optimization, including the use of intelligent analytics.

Customer Satisfaction Metrics stays the key focus for Financial Services Marketers, with 35% voting it the most important (figure 7), significantly more important than any other KPI (the next closest focus is Revenue at 22%). There are multiple marketing KPI’s tracked by financial services organizations, with over 70% tracking six of the nine metrics identified in the survey (figure 8).

See the 5 trends facing marketers working from anywhere.

Figure 8

Marketing metric/KPIs tracked

Financial Services Marketers Optimize

64%

Web/mobile analytics

75%

Customer satisfaction metrics

Now it’s time to take a look at marketing performance and how Financial Services Marketers measure and optimize the impact of their investments. 81% of marketers have said they are using Marketing Attribution tools — pivotal for being able to optimize marketing strategies with accurate, real action-based insights and avoid those manual presentation slides to prepare each week.

79%

Revenue

55%

Customer lifetime value

74%

Customer retention rates

77%

Customer acquisition costs

70%

Customer referral rates/volume

68%

Content engagement

75%

Marketing/sales funnel

SOURCE: Salesforce © November 2021 THE FINANCIAL BRAND

Figure 7

Most important metrics/KPIs

One last insight was that 78% of Financial Services Marketers say they align their KPIs with the CEO’s. So, it makes sense that Customer Satisfaction Metrics and Customer Retention Rates sit in the measurement for marketing in this industry. The CMO is now at the heart of the customer lifecycle and this is shown by the results of this survey as Financial Services Marketers work towards a strategy of Know, Humanize and Optimize. ▪ If you’re interested in the results of a survey with marketers from any industry, view the 7th State of Marketing report , where you can uncover the trends and insights from over 8,200+ leading marketers worldwide.

13%