Water Cooler Talk

Today’s Deposit Battles Demand Personalized Marketing Strategies

Banks must focus on building win-win relationships with consumers to excel, especially as traditional deposit-gathering strategies become less effective. Financial institutions should use data to understand and personalize experiences.

Jenn Day
Jan 5, 2024

Read the original full report from the Financial Brand here.

Here is a brief summary of the article:

  • Banks and credit unions need to use data to segment customers into personas and tailor experiences to each persona.
  • Personalized communication can help reach priority segments and enhance engagement with timely advice.
  • Considering the risks that customers face can also help banks and credit unions protect them and build trust.
  • Starting with one segment and gradually expanding the strategy can help institutions evolve their culture and achieve better results.
Water Cooler Talk

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