Attention Financial Marketers! It’s High Time You Invest in a Customer Data Platform
Lemnisk » Financial Marketing Blog
by Bijoy K B
6M ago
Financial institutions such as banks, credit unions, insurance, and non-banking finance companies are already employing fintech tools in their day-to-day operations. The recent pandemic opened up a huge gap with respect to digital marketing and marketing technology in general. Financial marketers weren’t completely ready to pivot to marketing digitally and they were scrambling to find tools that enabled basic marketing automation features.   Although this enabled them to stabilize their ships in the meantime, it was not the solution in the long run. Financial customers have easily migrate ..read more
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How Banks & Credit Unions Can Make ATMs Future-Ready
Lemnisk » Financial Marketing Blog
by Bijoy K B
1y ago
ATMs or Automatic Teller Machines have been available to banking consumers ever since the 1960s. Their primary purpose was to enable easy cash withdrawals for customers of a bank using a plastic card (known as the ATM card). Other features of the ATM included balance or account information inquiries, cash deposits, registration for other services offered by the bank, etc. In the recent decade, ads have made their way to ATM screens. They are mostly generic in nature where the same ad is shown to every customer who pays a visit to the ATM.   With the pandemic’s arrival, ATM footfall reduce ..read more
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Building a Digital-First Insurance Company
Lemnisk » Financial Marketing Blog
by Bijoy K B
1y ago
Digital-first insurance companies almost never existed in the pre-COVID era. Yes, there were companies that had undergone their own digital transformations. However, digital was still a secondary option or a backup for these companies. The revenue accrued from digital was always welcome but the primary revenue came from the traditional in-person business model involving the insurance agent and the consumer. COVID-19 has adversely affected this traditional model.    Now, the secondary or backup plan which was digital had to play a primary role in driving revenue for insurance companie ..read more
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Evaluating Martech Vendor Readiness: 7 Questions to Consider for Financial Marketers
Lemnisk » Financial Marketing Blog
by Bijoy K B
1y ago
The current pandemic situation has given rise to an insurmountable number of martech vendors. As financial companies are forced to develop a rock-solid digital transformation strategy, it becomes important to choose the right vendors that can help them meet their business goals and objectives. Evaluating martech vendor readiness is a crucial aspect for any financial company and has to be done meticulously. However, in the rush to adopt a digital-first strategy, marketers often ignore a very important vendor capability – data security.   In the past couple of years, there have been frequen ..read more
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Designing Outstanding Enterprise Customer Experiences in BFSI
Lemnisk » Financial Marketing Blog
by Bijoy K B
1y ago
Enterprise Customer Experiences (CX) have evolved from just giving great experiences to customers to being the sole criteria by which customers favor or reject a brand. Previously, in industries such as banks and Financial Services, customer experience starts from the time a customer visits a branch to the time he/she exits the branch. Today, when all businesses are going digital, the same methodology applies when a customer visits and exits a brand’s website. The only difference here is that there is no physical or in-person interaction between the customer and the brand’s representative. &nb ..read more
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Winning with a CDP: Digitization Lessons from COVID-19
Lemnisk » Financial Marketing Blog
by Bijoy K B
1y ago
The Coronavirus pandemic is continuing to wreak havoc in the world ever since it first appeared in China in December 2019. It has defied the expectations of industrialists and is causing a considerable decline in both big and small businesses. As there is no clear indication of when this juggernaut will end, it becomes necessary for companies to adapt to these difficult times in order to survive. The COVID lockdown period has drawn the attention of marketers towards investing in digital martech platforms such as a Customer Data Platform (CDP ) or a Data Management Platform (DMP), etc.  &n ..read more
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How the Financial Sector will Change Post-COVID
Lemnisk » Financial Marketing Blog
by Bijoy K B
1y ago
The Financial Services sector has been massively hit by COVID-19 just like other industry sectors. As the world gradually moves away from the lockdown, the customer scenario has changed immeasurably. Customers are no longer visiting offline branches to conduct their transactions. They are scared to venture outside their homes and it will take a lot of time for them to regain confidence for in-person branch visits. As a result, financial institutions are forced to focus their customer targeting efforts on channels that are readily available viz digital channels.    For banking and ins ..read more
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6 CDP Use Cases for Insurance Marketers
Lemnisk » Financial Marketing Blog
by Bijoy K B
1y ago
The Insurance sector has been booming quite well over the years. Research by the Associated Press indicates that the insurance providers market globally is forecasted to rake in $3.6 trillion by 2022. The recent digital revolution has provided insurance companies with multiple avenues to showcase and market their offerings to consumers. They no longer rely on one particular channel (agents and brokers) to distribute their products. But the rise of new channels has presented a huge challenge for insurance marketers.   To boost and increase digital convers ..read more
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COVID-19: How Financial Marketers Can Maintain Business Continuity
Lemnisk » Financial Marketing Blog
by Bijoy K B
1y ago
COVID-19 or the Novel Coronavirus has struck fear and panic among the masses. It’s an unpredictable situation and no one knows for sure how long it will last. In the wake of the pandemic, the operations of most companies have been severely affected. Financial institutions are no exception.    The challenge for most financial marketers is to somehow allay the fears of their customers and recommend alternate options to ensure a smooth working business relationship. They should also be fully prepared when a full lockdown situation (like China and Italy) arises. This is the time for mark ..read more
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White Mirror: Envisioning AI-Orchestrated (Marketing) Utopia
Lemnisk » Financial Marketing Blog
by admin
1y ago
Black Mirror, anyone? If Netflix’s hugely successful dystopian drama is anything to go by, painting AI and its digital accouterments in the darkest hues imaginable is something of a global pastime. AI naysayers notwithstanding, there are clear and significant benefits of AI that cannot be overlooked. These (for the purposes of this article) broadly fall under the umbrella term White Mirror.   The Ghost of Marketing Past: Moore’s law dictates rapid and exponential shifts in the technology landscape that render into obsolescence, ideas that do not evolve to stay ahead of the curve. Marketin ..read more
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