MarketBridge Insider, FinServ Edition (October)

FinServ firms are planning to significantly ramp their investments in both customer data and marketing analytics in 2019. It’s obvious that these investments will be critical both in driving growth and to prevent further disruption from both startup fintech companies and unforeseen data-savvy market entrants coming from other industries (e.g. Amazon.)

But beyond just spending more, the real question is on what specific initiatives and priorities should this budget be allocated?

In this Financial Services edition of the MarketBridge Insider, we share some recent best practices—with fantastic results—in Building a Successful Data-Driven Mid-Market Cross-Sell Program. Our Market Intelligence team surfaces some great insights into how Chase is building a long-term, “multi-product relationship” in How Chase Sapphire is Driving Cross-Sell Over the Long Run.

We compare our clients’ experiences with recently released CMO Survey results to highlight key opportunities and challenges associated with justifying those increased investments in The Opportunities and Challenges of Marketing Analytics for FinServ Firms. Finally, our CEO Tim Furey provides an executive view of the data and analytics investment imperative—and the need for greater agility—in FinServ Digital Transformation: Now it’s all about the Data.

I hope you and your team find a few key takeaways in these four articles. Happy Planning!


Bill Sheldon
SVP & Financial Services Lead

Case Study: Building a Successful Data-Driven Mid-Market Cross-Sell Program

FinServ companies have indicated that more than 75% of their marketing investments in growth go towards existing products/services (57%) and new products/services (20%) in existing markets. Cross-sell and upsell programs are one of the fastest growth opportunities available to most firms, and one of the best use cases for advanced analytics. But many still struggle with the “last-mile” challenge of activating their sales and marketing channels with data-driven insights.

Read how one financial services firm recently increased win rates by more than 30 points by deploying a fully-integrated cross-sell program in mid-market.

Read the full article >

Case Study: How Chase Sapphire is Driving Cross-Sell Over the Long Run

Our “always-on” Market Intelligence team tracks market activity (competitors, partners, clients and customers) across multiple segments within Financial Services. This month, Chase announced a lucrative 60,000-point signup bonus for Sapphire card customers opening a new Sapphire Banking premium checking account. In addition, the offer includes special VIP access to Sapphire lounges at concerts, sports and special events as well as early ticket sales and premium seats.

We thought this warranted a deeper examination into how Chase is leveraging the power of their banking “ecosystem” and taking the long view on “multi-product relationship”—helping to transform banking in the process.

Read the full article >

The Opportunities and Challenges of Marketing Analytics for FinServ Firms

The arrival of the 21st CMO Survey in our inbox challenges us to lift our heads up from our day-to-day work with Financial Services clients to think about those issues that will be critical to achieving breakthrough go-to-market improvements moving forward into 2019. Specifically, what roles can and should analytics, customer data and insights play in helping to drive performance and growth in the Financial Services sector, and how can companies ensure they are receiving maximum value from their investments in analytics/data?

Here are four key takeaways for Financial Services marketers in 2019

Read the full article >

FinServ Digital Transformation: Now it’s all about the Data

CEOs and their leadership teams in FinServ companies—from banking to insurance to credit—are getting on the next wave of digital transformation: data strategy and execution. While every company is at different stages of digital maturity (as are individual BUs and functions within each company), one trend is absolutely clear: The future of FinServ digital transformation will be “make or break” based on the execution of data-driven go-to-market strategies and marketing systems!

Read the full article >