51 Expert Customer Engagement Strategies from Today’s Banking and Financial Services Leaders

The banking and financial services industry is competitive, with companies competing for consumers’ attention and loyalty. Customer engagement helps financial services firms achieve these goals, stand out from the pack, gain trust, and boost retention. And today’s financial services companies are using an array of customer engagement strategies and tactics ranging from community involvement to strategic partnerships and sponsorships, developing innovative tools that tap into the latest technologies to streamline financial services transactions and financial management, and more.

To find out what strategies today’s banking and financial services leaders are leveraging, we rounded up 51 insights from marketing and technology leaders at the world’s most influential financial services firms, from chief marketing officers to digital strategists, customer experience leaders, chief information officers, and other forward-thinking business leaders. Below, you’ll find customer engagement strategies and insights in the following categories:

• General Customer Engagement Strategies
• Leveraging Partnerships for Customer Engagement
• Engaging Customers in the Digital World
• Tapping Into Tools & Technology Innovations to Boost Customer Engagement

Keep reading to discover some of the most innovative strategies today’s financial services thought leaders are implementing to drive customer engagement.

The Intelligent Engagement Platform lets you interact with customers in real-time with the right message on the right channel, developing customer engagement and boosting customer retention. See our tailored CDP solutions for the banking and financial industry. 

General Customer Engagement Strategies

1. Show your customers that you have their backs. “We are witnessing a global transformation in people’s relationships with work. How they choose to earn a living, pursue their passions and move seamlessly between life and business is changing. People are living rich, vibrant and layered lives and appreciate when someone has their back as they navigate this blended lifestyle.

“While we have always been known as a relationship company, many people have considered us as only a consumer brand. Nearly 40 percent of our business comes from other businesses today – from start-ups and entrepreneurs, to mid-size businesses, to Fortune 500 companies. At its core, our brand platform reinforces the enduring relationships we have with our customers – who are incredibly multi-dimensional.” – Elizabeth Rutledge, CMO, American Express, as quoted in New Global Brand Platform Shows How American Express Has Customers’ Backs in Life and Business; American Express; Twitter: @AmericanExpress

2. Help your customers meet financial goals. “Discover has a customer-first approach that is at the heart of everything we do. Being ranked #1 every year since the inception of the Brand Keys award highlights our continued focus on listening to and helping our cardmembers meet their financial goals.” – Julie Loeger, Executive Vice President & Chief Marketing Officer, Discover, as quoted in Discover Ranks #1 in Customer Loyalty for 21st Consecutive Year, via Business Wire; Twitter: @Discover

3. Ask the right questions when forging relationships. “Connecting with women on an aspirational level can vary greatly between communities. When looking at how to forge valuable relationships, I like to ask three questions: Are we showing up in the right places? Are we aligning with the right voices? Are we saying and doing something meaningful?

“Showing up in the right place means that media placements are balanced, in terms of relevance of outlet and reach. However, I place more importance on how we inspire people through meaningful experiences. People invest in their passions, and we make it a point to be there with them. Mastercard has a strong heritage in sport sponsorships, however, over the last five years we have broadened to embrace music, fashion, film and food, to give more depth to the way we engage with more people across the world.” – Raja Rajamannar, Chief Marketing & Communications Officer for Mastercard and President of its Healthcare business, Redefining Impact for Gender Equality: From Hashtag to Opportunity, LinkedIn; Twitter: @RajaRajamannar

4. Be of service. Find out what your clients need, and deliver it. “We have stayed close to our clients to understand what’s important to them and how we can best serve them, regardless of whether that is saving for retirement, running their small business or advising a client on an acquisition. We have also been investing in our bank to ensure we are personally engaging with our clients and providing the advice they need. A good example of this is the transformation of a number of our banking centres. In 2017, we physically transformed more than 100 banking centres across Canada, creating a more modern, open concept that fosters advice-based conversations with our clients.” – Victor G. Dodig, President and Chief Executive Officer, Canadian Imperial Bank of Commerce, Building the bank of the future, Canadian Imperial Bank of Commerce; Twitter: @CIBC

5. Acknowledge customer pain points, and transition those frustrations into positive action. “Ever since we helped pioneer the category over thirty years ago, consumers have benefited from dramatic improvements to investing choices and digital tools. But consumers still express a tangible frustration with their personal finances – particularly in a culture where wealth and success are often measured together, and we’re bombarded by images of over-the-top affluence. In this campaign, we acknowledge these everyday frustrations, and encourage consumers to channel them into positive action. It’s an invitation to step off the sidelines and take control of their own financial destiny.” – Lea Stendahl, Chief Marketing Officer, E*TRADE Financial, as quoted in E*TRADE Financial : Don’t Get Mad. Get E*TRADE., 4-traders.com; Twitter: @etrade

6. Let your clients call the shots on where, when, and how they consume information. “At Morgan Stanley, we are committed to leading with exceptional ideas. The strength of our brand is only as good as the innovative talent and exceptional expertise of our people. To unleash creativity, we’re building a culture of exploration. We are especially focused on fostering this culture in marketing, where the channels of communication multiply daily and where clients call the shots on how, when, and where they consume information. So we’re testing, learning, and adapting all the time — and our team is encouraged to do just that. We’re willing to take chances and are open to being early adopters of branding opportunities—as long as they are highly relevant to the audiences we need to reach.” – Audrey Choi, Chief Marketing Officer and Chief Sustainability Officer, Morgan Stanley, as quoted in Q&A with Audrey Choi, CMO and Chief Sustainability Officer, Morgan Stanley, Interbrand; Twitter: @MorganStanley

7. Connect with customers on an emotional level. “We work to connect with people on a more emotional versus rational level. Trust is built through consistent, positive interactions – it’s important for us to make every conversation count.” – Denise Karkos, Chief Marketing Officer, TD Ameritrade, as quoted by Martha France, Lessons in Meaningful Marketing from the ND CMO Summit, VYA Systems; Twitter: @dckarkos_TDA

8. Don’t forget the value of genuine, face-to-face interaction. “Trade shows come in various shapes and sizes and while many have pointed to the decline of their importance in the marketing mix, for us they still play an irreplaceable role.

“Digital marketing is fantastic and we are certainly increasing our investment and intelligence with our approach there but nothing can replace face-to-face interaction and it’s ability to establish and manage relationships. So we are investing more in digital marketing strategies to ensure the quality of attendees at our shows are better and our conversions are proving this theory out.

“Each year we host Synergy, our major customer conference across the globe, and the positive impact we are able to have with our customer relationships by attaching a face and personality to our solutions is invaluable. We see a significant difference in the customer lifetime value of engaged customers attending live events than those who don’t and that’s because people, at the end of the day, appreciate people.” – Tobias Lee, CMO, Tax and Accounting, Thomson Reuters, as quoted by Tom Murphy, Discussion Point: Are Trade Shows Worth the Cost?, CMS Wire; Twitter: @CMOTobias

9. Don’t be afraid to venture outside the established norms in the financial services and banking industry. Capital One has embraced this strategy with its Capital One Cafés, a unique bank/bistro hybrid. “The Cafés — and the experience that we’re creating there — are really heavily influenced by what we’ve heard from people. It really comes down to helping people feel more confident in their relationship with money. To do that, we are redesigning the banking experience, from top to bottom, and making it simpler, more straightforward, and more naturally fit into the lives that people are living today.” – Jaci Stoltz, Vice President of Capital One Cafés, as quoted by Brittney Mayer, A New Generation of Banking: Capital One Cafés Foster Stress-Free, Educational, and Rewarding Customer Experiences, CardRates.com; Twitter: @CapitalOneCafe

10. Leverage cross-border teams to better tap into local customer insights. “Our model of placing Digital Factories in five countries enables us to optimize the talent and capabilities of the people who live there. They understand the cultural nuances and the context of the local banking experience, and can provide us with the best insight into what’s most important to the people who bank with us.

“Our ability to work, learn and create collectively across business lines and borders is a phenomenal advantage. We can learn about what worked or didn’t work for us in a particular market, which helps us avoid mistakes. It’s an opportunity to talk about what we’re working on, and often we’ll say, ‘hey, can you send us that prototype, we want to take a closer look and borrow something off of it’.

“Depending on the type of product we’re working on, we can put the call out for a particular kind of project insight and easily find experts within the bank that can come to the table. We might host a call to discuss how to build it, and use the time to give feedback, which ultimately can be taken back to be built and executed in a way that appeals to the local market and culture.” – Pamela Hilborn, Design Lead at Scotiabank’s Digital Factory, as quoted in How to turbocharge a cross-border digital design team, Scotiabank; Twitter: @ScotiabankViews

11. Follow through on promises, consistently. “Personally, what I loved [at Webster] was so much was focus on the customer. And that’s just my passion too. To see companies that are doing the right thing for the customer, and then if you have that philosophy and it’s supported from the top, the customer is always going to respect that and know that. Then you’ll be rewarded.

“You can advertise anything, but if your employees aren’t really supporting it, it’s not going to work because the first time a customer comes in, if they don’t experience what you’ve been saying it’s going to die.” – Dawn Morris, Executive Vice President and Chief Marketing Officer, Webster Bank, as quoted by Noelle Talmon, Morris puts customers, employee engagement first, Harvard Business; Twitter: @WebsterBank

12. Marketing should not feel like marketing. “As marketers, we’ve traditionally measured engagement by how many clicks, likes, impressions, and eyeballs can we deliver. But tomorrow, engagement will be about transcending the web of life and becoming something greater than ourselves. The next generation of brands should understand that sharing, and wanting to share, will drive great marketing. And, crucially, it cannot feel like marketing. The fact that primary engagements no longer have to happen face to face shouldn’t be looked at as a problem. It should be looked at as an opportunity.” – Joan Khoury, Managing Director & Chief Marketing Officer, Oppenheimer & Co. Inc., What Comic-Con Taught Me About Engagement, CMO.com; Twitter: @OppFunds

13. Stay committed to your core values. “Our core values are independent and interdependent. Individually, each value conveys who we are and what we stand for as an organization. Collectively, they rely on and reinforce each other, much like the relationships that have helped our clients and communities prosper and our company grow. In both philosophy and practice, we believe Honor & Integrity should always lead the list.

“With Honor & Integrity, we boost the vitality of our values by doing what’s right. We sustain our nationally rated Strength & Stability by meeting our obligations as a regional financial services leader. We create more opportunities by working hard to deliver a 5-Star Commitment to Service to people and places depending on us. We encourage Teamwork to make good things happen and Personal Responsibility to keep each of us accountable.” – Robert Schneckenburger, Senior Regional President, Hancock Whitney Bank, Honor & Integrity at the heart of opportunity, Hancock Whitney; Twitter: @HancockWhitney

14. Integrate your traditional media campaigns. Ameriprise Financial showcases examples of how Ameriprise advisors work with clients to help them realize their goals with its “Be Brilliant” ad campaign. “We developed a range of storylines based on our ongoing conversations with advisors and their insights into experiences that are relatable to clients. We used realistic scenarios as inspiration for the stories and tested them among consumers and advisors to see which ones were the most relevant and impactful. The stories we featured were the stories that performed best. Our brand platform ‘Be Brilliant’ is all about inspiring our clients to live the full and rich life they have worked hard to achieve. The stories we highlight are examples of how our advisors are working closely with clients each day to help them reach their goals.

“Using real scenarios as inspiration helps to make stories authentic and relatable. The challenge for brands is finding the balance between the emotional and rational. In our case, we focused on depicting optimistic situations that depict the benefit of a long-term planning relationship with an Ameriprise advisor and how our unique approach helps clients prepare for the expected and unexpected events in their lives.” – Marie O’Neill, Senior Vice President, Marketing for Ameriprise Financial, as quoted by Steve Olenski, Ameriprise Financial Continues To Push Consumers To Be Brilliant, Forbes; Twitter: @Ameriprise

15. Always be prepared for shifts in consumer behavior. “Now is a good time to get plugged in and be prepared for a shift in customer behavior. If you can make the user experience compelling enough, you’ll attract more users and other [customers] will follow.

“We’re just getting started, but we think from a customer experience perspective, additional information about your financial state is handy to have at the point of sale.

“It gives customers more control and more visibility to their financial state at that moment, unlike some other alternatives that are just there for the payment and not necessarily much else.” – Tom Trebilcock, Senior Vice President of Digital, PNC Bank, as quoted by Will Hernandez, PNC puts the customer experience at the center of PNC Pay, Mobile Payments Today; Twitter: @PCBank

Leveraging Partnerships for Customer Engagement

16. Seek partners that allow you to tap into customer passions and reach new audiences. In May 2017, RBC entered into a multi-year partnership with Live Nation, a move that complemented the company’s existing partner portfolio, in an effort to reach consumers that don’t necessarily have the same high net worth as the consumers RBC’s other partnerships enable them to reach. The deal involves on-site concert perks, contests to win VIP experiences, and other benefits, and RBC planned to gain customer insights on common pain points at concerts and what would enhance the concert experience. “A lot of this will come down to content, data and experiential. In our view, the music experience doesn’t start when you’re at the concert. It starts when you buy a ticket, and it should extend beyond that. When you step back, entertainment as a category is one of the largest consumer buying categories. We want to use the category to drive experiences. And then use content and social media to amplify it. We want to enable an experience that inspires a customer’s loyalty.” – Mary DePaoli, EVP and Chief Marketing Officer, RBC, as quoted by Val Maloney in RBC adds national sponsorship reach with Live Nation deal, Media in Canada; Twitter: @marydepaoli

17. Align initiatives with audience interests. HSBC, for instance, sponsors the Hong Kong Rugby Sevens, with the event branded as the HSBC Sevens World Series. “The World Rugby Sevens series provides us with a unique opportunity. We get to engage with new and existing customers in a lot of our core markets and that continues throughout the series. It also allows us to provide a strong brand experience with a sport which our customers love. In terms of territories, we’ve always been where the growth is for organisations, businesses and communities. We also believe that rugby sevens has the potential for exponential growth – as a brand, we’re about growth and therefore we want to be where sports are growing.

“Each particular territory will have a slightly different activation or tweak, but the intent is always the same: being able to provide an opportunity for brand awareness, to engage with new and existing clients, to inspire our staff and to connect with the communities which we serve – these are the four big things we’re looking for across the line of business.” – Leanne Cutts, Group Head of Marketing, HSBC, as quoted by Matthew Glendinning, HSBC and Rugby Sevens: Interview with Leanne Cutts, HSBC group general manager and group head of marketing, SportBusiness; Twitter: @leannecutts

18. Be a valuable partner…for your customer. “The needs of businesses are changing, and they are looking for a different way to deal with their finance function activities and for quality data to support their decision-making. The use of cloud-based technology enables us to collaborate with a business, giving it real-time access to its data and full visibility of the services being provided by their EY Absolute team. As a result, this effectively provides an extension of its own finance team.” – Tina Gill, Partner, EY Absolute Lead, Ernst & Young LLP, as quoted in EY launches EY Absolute™ with Microsoft to bring UK businesses increased efficiencies to finance function, Ernst & Young; Twitter: @EYNews

19. Event sponsorships provide experiential marketing opportunities. Northwestern Mutual built an ad campaign and activation around the Rose Bowl, serving as the presenting sponsor for the fourth year in 2017, creating a 360-degree approach that blended social, digital, and real-world interactions. “Given the exciting game that we had from a ratings perspective, it was one of the bigger games—a 39% improvement in viewership from last year’s [College Playoff Series] semifinal at the Peach Bowl.

“What we did was fairly unique and different from what we did in our prior years. The [Spend Your Life Living] campaign was launched on December 29th with the Cotton Bowl, and also for the first time we had six spots in the Dick Clark New Year’s Eve show. There were a few firsts that we had this time. Beyond college football, we added to the mix a lifestyle component and worked with our partners at ABC.

“Then at the Rose Bowl we created a 360-degree approach with social and digital marketing that we amplified starting December 29. For the first time we had two events: the Rose Room, a way for people to come in and take photos and share them; and we also took part in the tailgate [festivities] and created a massive “end zone” and had viewers do touchdown dances.” – Aditi Javeri Gokhale, Chief Marketing Officer & Executive Officer, Northwestern Mutual, as quoted by Dale Buss, Life, Well Spent: 5 Questions With Northwestern Mutual’s Aditi Gokhale, BrandChannel; Twitter: @NM_News

20. Build meaningful relationships with the fintech community. “Scotiabank has a dedicated team that is actively building relationships with the fintech community. Most recently, Scotiabank partnered with Kabbage, a leading technology and data platform that powers automated lending. Scotiabank is also actively partnering with universities across Canada, (such as) the Scotiabank Digital Banking Lab at the University of Western Ontario’s Ivey Business School, which includes research projects addressing the impact of digitization in the financial sector.” – Jeff Marshall, Chief Product and Marketing Officer, Scotiabank, as quoted by Karen Kroll, Scotiabank Digital Studies Customers’ New Expectations, Global Finance; Twitter: @Scotiabank

21. Get actively involved with the communities you serve. “There are more elements in medium mix than ever before, and we’re constantly measuring and optimizing through research and analytics where we are in that overall mix. Also, we believe our people are the face of our brand, and culturally we believe in being actively involved in the communities we serve so our brand gets out there through our volunteerism and by being on nonprofit boards.

“When we’re volunteering, participating or giving through our First Tennessee Foundation, it integrates on a personal level into the communities we serve. A strong community is good for business.” – Aaron Chestnut, Chief Marketing Officer, First Tennessee Bank, as quoted by  Michael Waddell, Memphis Banks Build Brand Awareness Via Marketing, Community Investments, Memphis Daily News; Twitter: @FirstTennessee

22. Partner with the right firms to gain a fresh perspective on emerging industry technology. “Technology is transforming our industry in ways we are only beginning to appreciate, impacting the nature of risk, operations, how we engage with customers and the way we work. Data, for example, is making us smarter and changing the way we underwrite and price risk, deliver better claim outcomes, and transform the customer experience.

“Automation in the form of robotics, artificial intelligence and machine learning presents a unique opportunity to increase speed, accuracy and cost-effectiveness, making it easier to do business. Automation could impact up to 25 percent of insurance positions over the next decade—the jobs that today involve routine, rules-based transactions. The future workforce will instead focus on more impactful, high-value, customer-facing activities.

“Not surprisingly, having made waves in other industries, Silicon Valley is turning its sights on insurance. There are a growing number of new companies looking to transform the insurance industry in areas such as risk mitigation, analytics and distribution. We believe that for carriers open to partnership, many of these new firms bring the talent, energy and fresh perspective necessary to accelerate the industry’s adoption of emerging technologies and data sources.” – Christopher Swift, CEO, The Hartford, as quoted in The Hartford’s CEO Swift on the Future of Insurance, Carrier Management; Twitter: @TheHartford

23. Leverage technology partnerships to develop channels for engaging customers. AXA Financial launched such an initiative in 2016 by partnering with a technology network that connects brands with consumers to view and share experiences, questions, and opinions. AXA is then able to leverage this user-generated content to inform new features and services in line with consumer demands. “This initiative is designed to enhance the client experience by providing an additional avenue for feedback and customer contact. This is in line with our strategy of focusing on the customer experience and also part of AXA’s digital transformation. We anticipate that this new initiative will help to build the AXA brand with both current clients and prospects.” – Sharon Ritchey, Chief Customer Officer, AXA US, as quoted in New AXA initiative aims to transform the customer experience, AXA; Twitter: @AXA_US

24. Tap into partnerships to offer incentives and rewards in tune with your customers’ needs and interests. After a survey revealed that customers want simple and flexible ways to earn valuable rewards when booking travel experiences, Capital One launched a partnership with Hotels.com to offer just that. “We know travel is important to our customers, and that they are always looking for new ways to earn rewards that are both genuinely valuable and fit into their lifestyles. It’s important to us that we meet their needs on this front. With this multi-year partnership, we are attempting to make it extremely easy for people to earn rewards, regardless of the trip they are taking, or the type of lodging they book.” – Lauren Liss, Digital Partnerships & Rewards Lead at Capital One, as quoted in Using Capital One Venture Cards On Hotels.com Just Got Better, Capital One; Twitter: @CapitalOne

25. Partner strategically to expand in-demand capabilities to customers. Visa and PayPal entered into a partnership in Canada in order to accelerate adoption of secure, convenient mobile and digital payments. “This partnership will open new avenues for Visa and PayPal to collaborate to honor consumer choice and provide greater benefits to merchants and issuers. By working together, we will be able to bring more innovative products and enhance payment experiences online, in-app and in store for our joint customers.” – Stacey Madge, Country Manager and President, Visa Canada, as quoted in Visa and PayPal extend partnership to accelerate adoption of digital and mobile payments in Canada, Visa; Twitter: @Visa

26. Enter into partnerships with companies your customers already do business with. American Express first partnered with Uber back in 2014 to offer a first-of-its-kind loyalty rewards program, and it’s a partnership that continues today. “Our Membership Rewards program is known for delivering world-class value and we’re focused on bringing it to life in innovative, relevant ways for our Card Members. Through this new, slick and powerful integration with Uber, one of the most forward-looking, mobile-based services in the industry, we are leveraging our unique technology to add a real-time benefit where we know our Card Members want it.” – Leslie Berland, senior vice president, Digital Partnerships and Development at American Express, as quoted in American Express and Uber Launch First-of-Its-Kind Mobile Loyalty Program, American Express; Twitter: @AmericanExpress

27. Develop collaborative partnerships with other financial services firms to tackle the industry’s biggest challenges and cater to customer demands for speedy and frictionless transactions. JPMorgan Chase partnered with Royal Bank of Canada and Australia and New Zealand Banking Group Limited to launch the Interbank Information Network (IIN), which relies on Blockchain technology to “minimize friction in the global payments process.” “IIN will enhance the client experience, decreasing the amount of time – from weeks to hours – and costs associated with resolving payment delays. Blockchain capabilities have allowed us to rethink how critical information can be sourced and exchanged between global banks.” – Emma Loftus, Head of Global Payments and FX, J.P. Morgan Treasury Services, as quoted in J.P. Morgan Deploys Blockchain with New Correspondent Banking Network, JPMorgan Chase; Twitter: @JPMorgan

Engaging Customers in the Digital World

28. Make engaging with your company simple, intuitive, and fast with a high-tech, high-touch approach. Bank of America’s Digital Mortgage Experience creates a convenient experience for consumers who want to manage the mortgage process from end-to-end with ease. “The new Digital Mortgage Experience is about making things easy, intuitive, simple and fast. It’s the latest example of our high-tech, high-touch approach to serving clients – we designed the Digital Mortgage Experience by listening to our customers, understanding their needs, and delivering the full experience to them right in our award-winning mobile app.” – Michelle Moore, head of digital banking at Bank of America, as quoted in Bank of America Transforms Homebuying With New Digital Mortgage Experience, Bank of America; Twitter: @BankofAmerica

29. Conduct focus groups to gain deep insights into customer sentiment on new initiatives. Visa uses sensory branding – a two-second sound that represents the “experience of using Visa” – as a means to replace the visual Visa logo as physical cards are used less and less often thanks to digital alternatives. To hone in on the perfect sound, the company conducted focus groups. “We wanted to make sure we had the global view. Not just four-to-five uninformed people deciding which sound won the popularity contest. You’d be surprised by how excited and how competitive or opinionated we all can be about very short sounds.

“With the launch of different kinds of payment experiences, it became obvious to me and us at Visa that we need to ensure that the Visa brand mark is as prevalent in these new ways to pay as it has been in the old ways to pay. Its another component of our strategy to evolve how our brand is presented to consumers.” – Lynne Biggar, CMO & CCO of Visa, as quoted in Visa Adds Sound To POS Experience, PYMTS.com; Twitter: @LynneBiggar

30. Look beyond day-to-day banking services to realize the full potential of digital. “Three years ago, when I joined the organization, digital channels were small, and seen predominantly as a service channel – an alternate way for our clients to carry out their day-to-day banking. As we stepped back and started to look at the opportunity of digital in financial services, we realized that digital could act as a catalyst to transform more than just day-to-day banking services.” – Aayaz Pira, Senior Vice President, CIBC Digital, as quoted in How CIBC Is Winning the Mobile Banking Competition, Future Digital Finance; Twitter: @aayazpira

31. Tap into the new class of data influencers. “Moving confidently into a data-driven world of influence is challenging, but the organizations and individuals who navigate it well are likely to reap the benefits. Though there is no one-size-fits-all approach, we recommend three key steps:

1. Tell compelling data-based stories to engage with both data-savvy audiences and the public
2. Identify your audience, and keep the data relevant, accessible, and persuasive
3. Start thinking in terms of data throughout the communications process”

– Peter Zandan, Ph.D., Chairman of Research+Data Insights & Vice Chairman, Hill+Knowlton Strategies and David W. May, Corporate Chief Marketing Officer, AIG, The Transformation of Influence, TransformationofInfluence.com; Twitter: @AIGinsurance

32. Leverage technology to meet your customers where they are. “We are continuously experimenting with different tools to see what resonates and are currently using a new technology called Vogon that allows you to create custom content that meets consumers where they are. For example, if you’re looking at the weather it’s dynamically serving up an ad so it’s relevant to what you’re looking at. It integrates with the consumers’ path online and provides the simplest and most intuitive way for them to experience an ad. That’s just really cool technology. We were the first financial services brand to use this technology and the results have been immensely strong so far. If you look at benchmarks in this area, we are achieving almost 50 percent average view-through rate, which is twice the industry average. For me, it’s about finding new technology that can really make a difference right now, and that’s where we are trying to stay focused at Citi.” – Jennifer Breithaupt, Global Consumer CMO, Citi Group, as quoted by Billee Howard, Ask The CMO: Jennifer Breithaupt On Embracing Emotion As A Critical Driver Of Business Performance, Forbes; Twitter: @Citi

33. Leverage real-time data and analytics to predict what your customers want before they do. “Consumers have become more sophisticated. Their expectations are higher, they want a personalized experience and they want two way communication. Companies need to leverage real time data and analytics to enable them to be forward looking and predictive, to know what the customer wants even before they do.” – Woody Driggs, Global Advisory Leader, Customer Practice, Ernst & Young, as quoted in Why sales and marketing leaders cannot afford to ignore cybersec?, Ernst & Young; Twitter: @EYNews

34. Aim for personalization at scale. “Achieving personalization at scale is the biggest and most important challenge for us to get right. So we have to work hard to create the kind of infrastructure that supports personalized marketing that doesn’t feel like an ad or invasion, but feels like a benefit that’s available at the right point of a purchase cycle to acquire it. You’re no longer marketing AT people. You’re influencing them in an environment where they’ve already had a chance to form a view.” – Kristin Lemkau, Chief Marketing Officer, JPMorgan Chase, as quoted in The path to 2020: Marketers seize the customer experience, The Economist; Twitter: @KLemkau

35. Set meaningful KPIs to measure performance and determine the impact customer engagement has on the metrics that matter. “The success comes in different forms. I want to be sure our brand is being amplified in a meaningful way. For it to be a win, positive impressions are the KPIs that I look at. Marketing has to have a high degree of coordination to business growth. That is a change from when I came on as CMO. It’s not just about building brand awareness—it’s about brand activation. We are tracking numbers on our website, engagement on our content and social channels. What does it mean to lead generation? What does it mean to existing clients wanting to interact and engage more with us? We have about 40-50 KPIs that were tracking as we move through the tournament.” – Aditi Javeri Gokhale, Chief Marketing Officer & Executive Officer, Northwestern Mutual, as quoted by Evan Vladem, Northwestern Mutual’s First CMO on Partnering with March Madness, Chief Marketer; Twitter: @NM_News

36. Make it easy for clients to do business with you. Sun Life Financial aims to streamline the online experience by partnering with SecureKey to tap into Blockchain security and permission-based tools. “As part of our relentless focus on making it easier for our Clients to do business with us through new digital capabilities, we are proud to team up with SecureKey to offer an even more simplified online experience. As we take the next step along our digital transformation journey, we’ll soon be able to streamline and simplify the onboarding process for new Clients by using SecureKey’s permission-based tools and Blockchain security to instantly verify personal information.” – Mark Saunders, Executive Vice-President & Chief Information Officer, Sun Life Financial, as quoted in Sun Life announces another industry first and joins forces with a leader in Blockchain technologies, Sun Life Financial; Twitter: @SunLife

37. Combine human interaction with technology to make valuable connections. “Too often, I see companies that think customer experience is driven by technology (e.g., ‘let’s add this service’ or ‘we need to add this functionality’). But, customer experience is driven by people and technology (I would say process is another big component of customer experience but that is a separate article). According to a recent study from Accenture Strategy, 77 percent of those surveyed want human interaction when they need guidance. Guidance is not telling a customer where the part is located, but rather showing them where it is and taking the opportunity to connect with them, learn from them, and then sharing the learning with others.

“The companies that have mastered customer experience truly know how to combine human interaction and technology.” – Bill Schimikowski, VP, Customer Experience, Fidelity Investments, Connecting People and Technology to Deliver the Best Customer Experience, CIO Review; Twitter: @BSchimikowski

38. Enable customers to engage with your brand in natural ways, even across channels and devices. “Our industry is undergoing dramatic change that is enabled by technology and also required by customer expectations and behaviors. Customers expect the ability to conduct transactions on mobile. It’s a huge deal. We have [multiple] apps and have taken it beyond mobile to Alexa. We’re the only bank doing this. You can say, ‘Tell me my balance’ or ‘I’d like to pay my bill.’ We just launched more sophisticated natural language processing capabilities to ask more complicated questions, like ‘How much did I spend at Starbucks last week on my credit card?’ To understand natural language and return meaningful responses has been a lot of work out of our mobile team. We also have design specialists on the team who focus on language.” – Rob Alexander, CIO of Capital One Financial Corp., as quoted by Kim S. Nash, CIO Voices: Capital One’s Rob Alexander on How to Win in Banking, Wall Street Journal; Twitter: @CapitalOne

39. Collaborate with customers and get in on their conversations. “I think we’re really just beginning to scratch the surface on sharing, in terms of seeing brands co-create experiences with consumers. There’s a lot of opportunity in that space, like branded geo-filters and lenses on Snapchat, and we’re going to see that continue to get smarter. Consumers are already creating so much media on their own, so how can we collaborate with them and be part of their conversation?” – Shannon Paul, VP, Director, Brand Content and Social Media Engagement at Fifth Third Bank, as quoted by Carolee Bennett, #BankLove is Music to the Ears of Fifth Third Bank *and* Its Customers, Media Logic; Twitter: @ShannonPaul

40. When it comes to digital, don’t forget to show up in local digital communities. “Being part of the local community has always been a big focus for us, so with digital marketing we’ve always tried to find investors locally and at the right time. We have placed tremendous effort as the technology has come along to make sure we show up digitally in the local communities.” – Jim Olsen, Principal, Marketing Communications at Edward Jones, as quoted by Liz Skinner, Edward Jones is winning the Google search war, Investment News; Twitter: @EdwardJones

41. Leverage real-time insights and ask for feedback. “We have real-time feedback when an advisor engages with our services. We have surveys where we ask them what their experience was like and what else they would like to see. We have an editorial creation calendar that, in large part, drives ideas and direction for both the clients and their advisors. It shows what they would like to see more of.

“Obviously, in the digital world, it is easy to see where advisors are using content, where there is engagement. We want to use metrics for that as well.” – Mike White, CMO, Raymond James, as quoted by Elisa Cool, Contently CMO Stories: How Raymond James Got 95% of Its Financial Advisors to Use Content, Contently; Twitter: @MikeWhiteRJ

42. Apply the enterprise strategy to mobile. “I lead the mobile channel by helping define the strategy and path for where we take U.S. Bank mobile and how we execute that experience.

“Some of it is applying the enterprise strategy to mobile. Understanding your customer is another important part. I read every comment our customers write on our app stores. I also listen to our bankers and have stayed very close to tech and what’s happening in Silicon Valley and other places around the world, and then try to think about what it means for U.S. Bank.

“Our customers have high expectations of us. It’s less about being measured against other banks and more about them demanding a high level experience from U.S. Bank. They want from us what they get from Facebook or Uber or Apple.” – Amer Kamal, Head of Mobile Banking, U.S. Bank, as quoted by Sam Black, Mentors light path for mobile banking leader, U.S. Bank; Twitter: @usbank

43. Align digital experiences with real-world experiences for a seamless experience. While Bank of America Merrill Lynch is investing heavily in new digital capabilities, they’re also opening an additional 600 Merrill Edge Investment Centers, expanding its coast-to-coast financial center footprint. “Our goal is to serve our clients in ways most convenient to them, and we have both the brick and mortar and the digital presence to do just that. Our clients have asked for seamless integration of their Bank of America banking and Merrill Edge investing, and appreciate being recognized and rewarded for their relationship. We continue to listen and deliver, enabling us to grow responsibly and meet our clients’ evolving needs.” – Aron Levine, head of Merrill Edge at Bank of America,  as quoted in Bank of America to Open 600 More Merrill Edge Investment Centers, Bank of America; Twitter: @MerrillEdge

44. Use digital capabilities to gain a better understanding of your customers. Use those insights to develop strategies that make their day-to-day banking experience simpler. “We’re using digital to better understand our clients and completely rethink how we can deliver services that make the day-to-day banking experience delightfully simple and convenient for our clients. We know that more than 85 per cent of our retail transactions are performed by clients in a self-serve channel, which is proof that our clients want digital solutions like credit card controls at their fingertips.” – Peter Tilton, Senior Vice President, Digital, RBC, as quoted in Hold the phone: RBC gives clients the power to control their credit cards through the RBC Mobile app, RBC; Twitter: @RBC

Tapping Into Tools & Technology Innovations to Boost Customer Engagement

45. Develop tools that make your customers’ lives easier. “With UnderRight Life, Global Atlantic is helping you do away with cumbersome underwriting tables by moving underwriting tools into the palm of your hand and making the underwriting process a more customer-friendly experience.

“Since the dawn of the life insurance industry, underwriting has weighed on the sales cycle. Its cumbersome and invasive nature, as well as its unpredictable results, slow the overall application process and may even deter some people from seeking the protection they need.

“Especially today in the digital age, where people are conditioned to expect immediate gratification, purchasing life insurance is inconvenient and time-consuming. People want instant feedback and results.

“Global Atlantic understands these challenges and is investing in underwriting initiatives that pave the way to a smoother and quicker experience. While underwriting is an essential part of the life insurance process and isn’t going away, modern technology and knowledge gained through decades of underwriting experience can lead to meaningful improvements — such as Global Atlantic’s UnderRight Life.” – Adam Lucas, Marketing Manager, Global Atlantic Life, The Future of Underwriting in the Palm of Your Hand, Insurance News Net

46. Deliver information in the moment. “Our goal is to deliver information ‘in the moment’ to help all customers make better informed financial decisions.

“AI technology allows us to simply have a conversation in the chat environment rather than clicking on a website. That’s a huge time-saving convenience for busy customers who are already frequent users of Messenger.

“If done right, what’s next is even more exciting: revolutionizing the customer experience from start to finish. With the right data and analytics, we shift from the mindset of ‘people like you tend to do this’ to an experience based on who you are and what you want.” – Steve Ellis, head of Wells Fargo’s Innovation Group, as quoted by Richard Burnett, The most helpful ‘banking assistant’ on Facebook, Wells Fargo Stories; Twitter: @WellsFargo

47. Adopt the communication channels your customers prefer to deepen relationships. “Texting is a high-priority communication tool in both our personal and business lives. Studies show that we respond faster to text messages than any other type of outreach. Our new texting solution is another example of Cetera understanding what advisors need to be successful and stay connected with their clients. Helping advisors get a more holistic picture of their clients’ financial lives is one of our core priorities, and this new tool is the next step in that ongoing mission.

“Cetera’s new texting solution provides our advisors with a crucial tool for increasing transparency and connection to their clients.” – Michael Zuna, Chief Marketing Officer of Cetera Financial Group, as quoted in Cetera Financial Group Introduces Advisor Texting Solution to Strengthen Advisor / Client Relationships by Enabling Seamless, Compliant Communication, PR Newswire; Twitter: @mzuna

48. Leverage AI to deliver personalized advice to help customers make smarter financial decisions. Bank of America launched the first widely available, AI-driven virtual assistant in financial services in May 2018, and by June 2018, “Erica” had already surpassed the one million user-mark. “Everything we do is based on what we hear from our clients: how they want to interact with us and how we can make their financial lives better. Erica delivers on this in many ways, from making it easy for clients to find what they are looking for to providing new and interactive ways to do their banking using voice, text or gesture. Through Erica, we are also delivering personalized solutions at scale by providing insights, such as how you can improve your credit score or create a budget.” – Michelle Moore, head of digital banking at Bank of America, as quoted in Bank of America Delivers First Widely Available AI–Driven Virtual Financial Assistant, Bank of America; Twitter: @BankofAmerica

49. Develop tools that not only enable customers to take advantage of the latest technology, but to gain a more holistic view of their financial picture. Visa introduced a Token Management Service to provide merchants with centralized data on their transactions across platforms. “Our clients are seeking to create new integrated commerce experiences that unify their digital and physical operations to gain a comprehensive 360-degree view of their customer interactions. Today’s launch of Token Management Service brings merchants a vital capability to better service their customers by enabling them to embrace and create new, frictionless and secure payment experiences and maintain their competitive edge.” – Andre Machicao, senior vice president, digital merchant products, Visa, as quoted in Visa Brings CyberSource Token Management Service to Clients Globally, Visa; Twitter: @Visa

50. Offer hassle-free communication channels. Discover was selected as a 2018 CIO 100 award recipient for its adoption of AI to better serve its customers. “Skyrocketing mobile adoption is influencing every aspect of customer needs and expectations. The new in-app messaging capability using AI gives customers a hassle-free contact channel, one that lets them communicate however, whenever, and wherever it’s most convenient for them.” – Glenn Schneider, executive vice president and chief information officer at Discover, as quoted in Discover Recognized for Using Artificial Intelligence to Enhance Customer Service, Discover; Twitter: @Discover_News

51. Integrate the technological and human aspects. That’s what Northwestern Mutual aims to achieve by building tools that delight their customers, such as the use of predictive analytics to calculate a client’s financial wellness score. “Often it’s a human-driven problem. And often humans do not want to deal with their finances.

“There is a way to do that in an easy, digestible and kind of delightful way, where we’re able to leverage technology and predictive capabilities to really push for financial security for our clients.

“After we’ve gotten a couple data points about you and gathered some of the predictive data points that we know are probably true about you, [we] give you a score that gives you an idea what the probability is of you reaching your financial goal, or you retiring, or you going broke.” – Emilia Sherifova, Vice President of Architecture and Engineering at Northwestern Mutual, as quoted by Kylie Anderson (based on an interview conducted by Rebecca Knight for CUBE), Predictive tech, improved user experience increases engagement at Northwestern Mutual, Silicon Angle; Twitter: @NM_News