Leveraging Digital Sensory and Predictive Analytics to Transform Customer Acquisition

In the current banking ecosystem, the delivery of timely and relevant engagement to meet customers where they are in their journey is a competitive differentiator. This can be accomplished by leveraging tools that offer a holistic view of consumer interaction, early detection and identification needs, and automated decisioning based on the qualifications and quantification of each consumer.

Advanced software solutions enable banks to deliver quantifiable acquisition value through innovative technology. Banks should consider solutions that bring customer acquisition value through:

1. Digital Sensory – Active website with prospect detection, identification, and propensity metrics improve speed and engagement timing based on predictive analytics.
2. Propensity-to-Purchase Analytics – Scores drive engagement strategy and staff assignment based on success likelihood.
3. Self-Service Financial Planner – Self-disclosed needs and segmentation through a self-service personal financial planning tool increases engagement relevance.
4. Campaigns – A comprehensive engagement strategy of targeted campaigns with effective calls-to-action and follow-up delivers success in acquiring leads, assessing and meeting needs, and converting opportunities.
5. Referrals – Origination, routing, monitoring against SLAs, and tracking increase accountability and success.
6. Sales and Sales Performance Management – Goal distribution, pipeline management, contact tracking, Book of Business, and management insight increase Sales success in an evolving Omni-channel delivery ecosystem.

Digital sensory helps detect customer needs to expand acquisition capability. Compared to a passive website, an active website with digital sensory technology detects and quantifies signals such as website navigation, time-on-page, issue and error detection, along with monitored activities and events. Automation analyzes signals to rapidly respond by providing relevant and timely information, offering products and services to meet identified needs, and resolving issues to enhance customer experience. Looking specifically at lead generation, digital sensory utilizes signals related to customer needs and intent derived from digital behavior.

From the first time a user visits the institution’s website, digital sensory detects and identifies the user to track navigational behavior and time-on-page, content engagement, and product content interaction. These signals communicate consumer interest and needs. Additionally, intelligent lead generation quantifies these signals to measure their purchasing propensity. When the propensity score reaches a configured threshold, relevant and timely customer engagement deploys through various methods and media based on preferences, segmentation, and complexity to optimize acquisition success.

For more information download our interview: Creating Digital Revenue Streams through Customer Acquisition and Relationship Expansion