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What Do You Really Know? How Financial Service Marketers Can Win Using Better Data

According to The Fournaise Group, “Eighty percent of CEOs admit they do not really trust and are not very impressed by the work done by marketers. Fournaise goes on to say that CEOs believe marketers don’t think enough like business people, focusing too much on the creative (The Fournaise Group, Global Marketing Effectiveness Program Survey, 2013). Ouch! Without hard numbers behind them making it possible to strategize, execute and measure success, it’s no wonder that financial institution marketers have a difficult time convincing colleagues of their value, rationalizing budget requests and getting the marketing dollars they deserve. To overcome this challenge, marketers need data — real numbers to support their efforts to attract the right prospects, keep the right account holders and grow the institution’s bottom line. What’s standing in the way? It’s not a data deficit. Marketers have access to tons of data. Rather, it’s a “better data” deficit. In many cases, the data that marketers have isn’t the data they really need, and their data analysis isn’t telling them what they really need to know. To get connected to the “financial realities,” you need to bridge the gap between what you already know and what you need to know to make your efforts most effective. Here are three examples.

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Harland Clarke Corp. is a leading provider of best-in-class integrated payment solutions and marketing services, serving multiple industries including financial services, retail, healthcare, insurance, and telecommunications.

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