The end of “Dear Valued Customer”: Crafting truly personal banking moments

From customer data to meaningful personalization

What do you already know about your customers? Quite a bit, as it turns out.

And that's not an exhaustive list. Your customers have already shared this data with you, or you can infer it from other information they've shared. The question remains, what will you do with it to improve the customer experience?

Tailoring offers: target the right customers at the right time

Let's say your banking customer has just had a baby and opened a savings account for their child. That's the time to send your customer information about setting up a 529.

This is your opportunity to educate your customer about how a 529 works, the benefits of a 529, and how to set one up. New parents have a to-do list a mile long, so proactive outreach and education can make their lives a little easier. Moreover, reaching out about setting up a 529. doesn't feel like you're trying to sell to them. It feels like you're helping them at a hectic time in their lives.

Customize offers based on existing information

Let's say you know that Jenny and Max's portfolio could use greater diversification. Because it's not diversified, the couple is at risk of losing money on their investments.

You didn't have to ask them to provide new information. The information about portfolios is something you already know and exists within your systems of record. It doesn't cost you anything to use this information.

On the contrary, if you don't use this information, Jenny and Max's portfolio is vulnerable. They could lose money. And when they lose money, they might also ask themselves, “Why didn't someone give us better advice?”

By stepping in at the right time with the right offer, you show you're a trusted partner. You're not just trying to make a sale. You're demonstrating that you care about your customers, and you're looking out for them with relevant, timely offers.

New activity? Send a relevant offer

Let's say Sarah gets a new job with a bump in salary. She's excited, but she also wants to understand how to make her money work for her.

Now would be a great time to send Sarah offers for high-interest savings accounts. These accounts would help her increase her savings. The simple act of sending her the right offer at the right time makes her feel like your bank is looking out for her.

The lift for you is low. You already have the information in your system. It's just a matter of acting on it.

Go beyond basic personalization with an experienced partner

The right outsourcing partner can leverage your data to effectively personalize customer communications. You can reach customers at the right time with the right offers and improve customer retention rates. Computershare's expertise helps you automate personalization with confidence, seamlessly, at scale, and with a human touch. Contact us today to learn more.