In “Six Ways Data Can Boost Your Community Bank’s Brand,” Gina Bleedorn discusses how financial institutions can mix and match data and leverage leading-edge mobile insights.
Thursday, March 10, 2022 – In their recent spotlight on data, Independent Banker looks at ways information and insights can help community banks transform their services into more customized offerings. In the article, Rob Birgfeld, ICBA’s executive vice president and chief marketing officer, addresses community banks’ reticence to use data in a more fulsome way. He believes they “associate know-your-customer (KYC) mandates with compliance rather than opportunity” and encourages FIs to move from merely aggregating data into activating it.
One of the experts interviewed for the article, Adrenaline’s CXO Gina Bleedorn says a community bank’s internal customer data gets even more “actionable when it’s buttressed by an external data source.” She notes how market data from the Census Bureau and services like Esri, which uses Geographic Information System (GIS) mapping, are two examples of high-quality external data community banks can acquire. Competitor data is also widely available and important to incorporate, so community banks know how to effectively differentiate themselves.
Finally, Gina Bleedorn discusses mobility data – aggregated, anonymized from cell phones. She says, “Knowing where people go, who they are and what they do” provides banks powerful behavioral insights. Going even further, now marketers are using mobile advertising identifiers (MAIDs), to enable push notifications, ads and offers going directly to individual devices via proximity marketing. This leading-edge data is yielding “a new and priceless form of information,” giving invaluable insights on an individual’s daily habits and movement in and around a bank’s branches.
For all of Adrenaline’s insights, read the Independent Banker’s full article: Six Ways Data Can Boost Your Community Bank’s Brand. Independent Banker magazine is an award-winning monthly publication by the Independent Community Bankers of America (ICBA) and features news, trends, insights, and analysis to empower and support the community banking industry.
To speak with one of our thought leaders on data programs to unleash powerful growth, contact us at email@example.com. Be sure to also stay tuned in to Believe in Banking as it highlights industry information and insights for banking leaders and Adrenaline’s Insights channel featuring banking and credit union strategies for success.
Adrenaline is a brand experience company that creates and implements end-to-end branded experiences through creative and environmental design. We enhance our clients’ customer experiences across digital and physical channels, from their branding and advertising to design and technology in their spaces. After transforming an organization’s brand, Adrenaline extends it across all touchpoints — from employees to the market to in-store environments. And, we focus on serving industries that sell human experiences including financial, healthcare, sports and entertainment.