Engage Customers Based on Their Financial Goals

February 7, 2017
Hayley Haspeslagh

As households continue to wind down from the holiday season, consumers begin to consider how they can achieve their goals in the new year. In fact, according to Ally Bank, 29% of customers feel the greatest challenge they face when planning for their financial future is sticking with a plan and achieving their financial goals. Believe it or not, your financial institution is in the perfect place to set your customers up for financial success in 2017 and Geezeo’s PFM platform can help.

Between helping clients leverage our free campaigns and assisting our clients in increasing overall engagement and ROI for the platform, we get a sizeable number of requests saying “We hear you talking about the data, but how do we use it?” Over the next few weeks, we’ll be highlighting the different types of PFM users you can target, based on their financial goals. To start, let’s focus on those who are currently managing any type of financial goal.

Market Segment: Customers who’ve identified their financial goals

You can leverage PFM data by not only identifying which customers have created a savings or payoff goal, but which financial goals each customer is managing. Ally Bank found that 83% of Americans have financial goals they are planning toward. That’s potentially a huge market of customers using PFM to manage financial goals that you can position your bank or credit union as the customer's advocate. Are they planning to pay off their debt? Maybe you offer them a better APR or a balance transfer. Are they saving for a new home or car? Use the platform to determine the time to offer them a mortgage or auto loan.

These small but priceless data points enable you to get to know your customer, deepen your relationships through engagement, and proactively cross sell to these customers across your digital banking platforms.

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