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Get Skin in the Game: 3 Key Criteria for Your Online Digital Marketing Solution

Home » Blog » Perspectives » Get Skin in the Game: 3 Key Criteria for Your Online Digital Marketing Solution
Alkami Appoints Deep Varma as Chief Technology Officer

In the first blog of this series, Your Competition is Advertising On The Internet – Shouldn’t You?, we discussed that retailers and financial institutions alike have realized the need to advertise where their account holders and prospects are – online. So how can financial institutions create strategies to engage throughout this vast ecosystem and ensure reach? Read on.

Three Key Criteria for Your Online Digital Marketing Solution

If you are eager to initiate your online digital marketing strategy, let’s consider how you can make the most of your dollars spent. What should you look for in a marketing solution provider to get the greatest return and ensure that your account holders receive the type of experience they expect and deserve? Including the following criteria in your solution search will guide you down the right path. When looking for a solution to reach out and engage with your existing account holders, don’t be satisfied unless the solution:

1. Allows you to use your full universe of account holder data for targeting ads
2. Provides closed-loop reporting of product conversion
3. Keeps your account holders’ privacy secure

1. Leverage Your Full Universe of Account Holder Data

Most programmatic display advertising solutions leverage third-party data based on aggregated consumer behavior or at best, retargets based on consumers’ past websites visited.

Financial institutions (FI) are in a unique position in the market because of the wealth of data they have about their customers – data about the products customers have with the FI, how they behave with those products, but most importantly their everyday spend behavior with their debit, credit and bill payment transactions. With an expectation that 463 exabytes of data will be created every day by 20251, information overload from consumer behavior will continue to challenge FI professionals when building marketing and acquisition strategies.

Using this broad scope of customer data, FI’s can deliver unique personalized experiences that consumers crave and expect. FI’s can use insights gained from account holders making payments to a daycare provider to personalize Mortgage offers for their growing family. FI’s can communicate the benefits of their HELOC offering to account holders that just started marking payments to a university. FI’s can identify account holders whose CDs are set to expire in the near term to keep their institution top of mind during customer internet searches. Current and prospective account holders are out there navigating the web – FI’s need to make sure they engage with them even after they leave their website and online banking solutions.

It is projected by 2023 that 62.2% of all U.S. ad spending will be invested on the Internet – a 658% increase since 2007. Get skin in the game now.
– Ad Age Marketing Fact Pack 2021

2. Full-Cycle Closed-Loop Reporting is the Holy Grail of Success Metrics

In addition to having a full universe of data that can be used for ad targeting, financial institutions can use this data to know when they have been successful with their marketing efforts. They know when an account holder has opened a mortgage, a HELOC, or renewed their CD. An online digital marketing solution should leverage this data to know which marketing campaign and online advertisements influenced these product openings. Full-cycle closed-loop attribution reporting with ROI dollars is the holy grail of gauging online digital campaign performance metrics. Tracking marketing efforts from the first impression through to product opening should be at the core of any online digital campaign.

Click metrics, typically provided from online digital marketing solutions, let you know when your ad creative is encouraging consumers to seek out information. They should not be dismissed, but full-cycle attribution reporting will provide the best performance reporting to help you understand your marketing ROI.

3. Don’t Jeopardize Your Account Holders’ Security

As you are vetting online digital marketing solutions – do not minimize the importance of your account holders’ privacy and the security of their data. From data collection, to campaign targeting and campaign performance measurement, ensure that their privacy is maintained and their identity is protected.

Partner to Deliver Personalized Engagements to Your Customers Online

Marketing automation solution providers that deliver this level of online digital experience leveraging anonymized, first-party customer data and offering full-cycle, closed-loop attribution performance reporting are virtually nonexistent. But Segmint’s proprietary technology, extensive AI and transactions analytics toolkit, integration with a top-tier demand-side platform partner, industry-leading campaign marketing platform, and expert team of client success managers accomplish this mission with ease and efficiency of spend.

FI’s are sitting on a gold mine of customer data – yet they don’t know what to do with it. Make your data actionable with Segmint’s holistic Customer Insights solution providing a 365-degree view of your account holders bundled with a campaign marketing solution enabling delivery of highly-targeted messages on the Open Internet. Messages are securely served through Segmint’s patented secure One Way Trust integration with our demand-side platform partner, ensuring no customer data is exposed. Account holders’ everyday purchase transaction data is key to understanding the unique financial behaviors of each of them along with their engagement with the competition. Your FI has the data – use it – to deliver messages to interact with account holders where they are spending their time, and living their lives…on the Internet.

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The information provided on this website does not, and is not intended to, constitute legal advice or recommendations; instead, all information, content, and materials available on this site are for general informational purposes only for which Alkami disclaims all liability.

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