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3 Technologies You Didn't Know Applied to Bank or CU Marketing

Luke Tatge


As a bank or credit union marketer, odds are you have heard some terms in the general marketing world that sound a bit like science fiction. But you have a place at the table with emerging tech. A recent visit to the Financial Brand Forum in Las Vegas yielded some fresh perspective on how to apply these tech developments to your FI marketing strategy.

Here are three key takeaways.

Augmented Reality

You've maybe downloaded an app or two of its ilk—admit it, you've caught a few Pokémon now and again with the best of them. But have you considered the implications for your bank or credit union's marketing? Augmented reality could serve as a value-add for your FI brand in unique ways (and allow for some potentially lucrative partnerships with local or regional businesses), according to Kony CTO Bill Bodin.

He shared some applicable examples, including capitalizing on a potential mortgage borrower doing drive-by house-hunting by offering an AR experience that displays the interior of the house, in addition to real-time details about the cost, the distance to the user's workplace or, best of all, home loan products that would most apply to this particular purchase based on your known finances. Partner with local real estate agencies to help secure the necessary content, and you might have a mutually beneficial back-scratching scenario.

This can even seep into your branch experience—using AR to identify sections of your branches (i.e., teller counters, loan officers, self-serve kiosks and—most importantly—coffee). This could even get as specific as introducing your tellers by name and including their specialties to help the end user locate the most pertinent bank or credit union employee with whom to engage.

Smart CRM

The power of data continues to be a calling card of marketers the world over—but how much of this can truly apply to your bank or credit union's sales efforts, particularly when it comes to your digital marketing? A customer-relationship management (CRM) tool can work wonders for personalizing your brand experience for your customers or members, both potential and existing. Salesforce financial services marketing manager Matthew Cameron demonstrated the power of a hyper-intelligent CRM.

Knowing a lot about a potential lead is all well and good—but until they've completed a form or "raised their hand" digitally, as Cameron put it, they aren't much use to your sales team. Unless you have a robust CRM to back up the team. Segmentation of users based on behavior can happen before you know who they are though. Track anonymous users by IP to start seeing what they're interested in (i.e., pages they visit, where they live, how they use your site or social channels, etc.), and develop "lookalike" audience profiles to serve relevant ads on platforms such as Facebook.

Artificial Intelligence

No, we're not talking robots (...yet)—this is simply a tool by which you can leverage the things you know about your customers and members (their data) to give them a more personalized, one-to-one banking experience. Cameron from Salesforce highlighted the value of a "needs-assessment flow," for example, to guide a potential lead to a personalized recommendation while gathering more information about who they are and what they care about. It's mutually beneficial to bank and customer.

This translates to your online and mobile platforms as well. Have a budgeting or goal-setting tool in your account-management system? Use this information to suggest or upsell tools that relate to these goals. If Customer X has a self-identified goal of saving $2,000 for a downpayment on a boat, for example, make sure said customer receives information on your auto rec loans in a timely manner.

And AI isn't only for use in the sales or upsell process—it can work wonders for your user experience, as well. MX CMO Don MacDonald outlined the importance of clear and identifiable transactions. Something as simple as sifting through the nonsense of transaction labels and helping to identify merchants and retailer categories can save your end users a lot of headache.

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