Reduce CAC and link consent choices to every customer record to personalise experiences
The challenges in the industry
Marketers in the financial services sector are faced with a high customer acquisition cost (CAC) due to the industry’s highly competitive nature, which often includes an incentive for loyal customers to part ways with their existing bank. Sustainable growth puts pressure on improving marketing efficiency and reducing the CAC. Banks and insurers must remain compliant with data privacy regulations, such as GDPR, which protects the rights of millions of customers. Part of this challenge is ensuring that consent is linked to any customer data used for marketing purposes so that consent choices can be honoured to deliver a highly personalised experience that meets expectations. Due to the long-term nature of customer relationships, a complete understanding of omnichannel behaviours is imperative to predict demand to deliver the right automated message at the right time. For example, lifestyle changes such as graduation, marriage, or a new job can impact a current insurance policy or make a customer eligible for a new one.
Success stories and quotes
USE CASE 1
Exclude previous buyers
Marketers can take advantage of unified customer records to exclude customers from campaigns based on their previous purchases made across all channels. Excluding previous buyers helps to reduce waste, increase conversion rates, impact return on ad spend (ROAS), and avoid a poor customer experience. Plus, customers are not bombarded with irrelevant or duplicate messages. By excluding customers from promotions, marketers’ campaigns are more effective and efficient, increasing the lifetime value of removed customers to maximise the return on investment for each campaign and ensure that customers are receiving the most relevant messages.
USE CASE 2
The EU General Data Protection Regulation (GDPR) provides EU residents with a right to be forgotten and allows fines of up to €20 million or 4% of global revenue—whichever is higher. The stakes are high! Zeotap CDP allows for the storage, configuration and orchestration of consent purposes and marketing preferences data, creating actionable and compliant audience segments ready to reflect the latest consent choices in marketing campaigns. Optimise customer experiences that satisfy data privacy regulations, such as GDPR and CCPA, and quickly and efficiently respond to customer data requests, including the ability to delete customer records from all systems with a click of a button.
USE CASE 3
Automatically sending messages to customers based on specific actions or events is a critical ingredient in providing a personalised and superior customer experience. Trigger events are moments in time that can be used to identify customers likely to be interested in a product or service. Marketers can use these events to send targeted messages in real-time or even scheduled for the future to customers most likely interested in the message (for example, an annual event like a Birthday or 30 days before an annual subscription expires). By selecting the best message for each customer, marketers can ensure more effective marketing, improved engagement, and increased customer satisfaction. Zeotap CDP’s Orchestrate module is designed for marketers to send the right message to the right customer at the right time.
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Why Zeotap CDP?
Specialised in prioritising simple use cases that drive commercial outcomes in 8 weeks
Frictionless deployment make existing tools and investment better with latency and cost advantages
Built for Marketers
Designed for hands-on marketers with no need for technical coding skills
Including Cookieless ID
Patented identity stitching strategies for discriminatory digital marketing use cases
PRIVACY ABOVE ALL
From Europe for Europe
Conceived in Germany and developed for stringent European regulation
We will be your trusted partner, not just a software vendor, that will make your CDP project successful.