Marketers have access to tons of data. In many cases, the data marketers have isn’t the data they really need, and their data analysis isn’t telling them what they really need to know. It’s a “better data” deficit.Download PDF
Despite what you may think, the life of a marketing data “supermodeler” isn’t all glitzy lunches, dedicated printers, and corner offices. Truth be told, the pressures of not realizing the enormous potential of the massive marketing data available to a financial institution can only add to the stress of hot marketing boardroom lights, daily evaluations, and sleepless nights.
Financial marketers find themselves in a good news/bad news situation this year. Marketing budgets are on the rise, which suggests that financial institutions clearly are finding value in marketing. But along with that stronger position come increased expectations and scrutiny.
By 2020, according to this report released by PwC, the ability to act in real-time based on customer intelligence data will be a key trend affecting the financial services industry, and it will drive revenue and profitability. However, while there is a growing awareness of the need for customer centricity, there is a significant gap in preparedness.