As competition heats up in financial services, consumer loyalty matters more than ever. But what does true loyalty look like for a bank or credit union? It’s about more than just satisfaction. Taking steps to increase brand awareness, simplify the…
Banks and credit unions are relying on digital channels more than ever, but from the consumer’s perspective, even the most intuitive innovation comes at a cost. Humanizing the digital consumer experience can offer the best of both worlds: convenience that…
Have you ever been ghosted? By your consumers, we mean. “Ghost customers” present a challenge that institutions continually seek to unravel. These elusive patrons, once active and engaged, have slipped into the shadows of dormancy. Understanding why these consumers went…
Customer experience is a competitive differentiator. Taking the time to evaluate your entire customer journey can help drive improvement and create happier customers. Is Customer Experience really that important? The short answer is yes. Why? Well, “56% of consumers feel…
In the digital world, businesses need a solid online presence to be successful. Digital direct marketing allows you to reach a large audience with your message quickly and easily. But that doesn’t mean traditional direct marketing methods like mail aren’t…
When you first meet data scientist Jasmine Joseph, you will learn that she is passionate about data and the potential for data to influence the success of a marketing campaign. Understanding exactly what her team of marketing data scientists at Franklin Madison does is a little harder to grasp.
Why Financial Institutions Are Focusing on Consumer Loyalty Over New Business Acquisition Financial institutions spend thousands to tens of thousands of dollars every year on attaining new consumers (an average acquisition cost of $200 per new consumer). However, in recent…
When economic times are tough, individuals and businesses alike suffer. As people tighten their purse strings, businesses are making less money on less necessary products and services such as travel. This means member retention and growth are more important in…
Some people are “dog people,” and some are “cat people.” No matter which camp you’re in, what most pet owners can agree on is that when you bring home a dog or cat, they almost instantly become important members of…
In times of recession and challenge, consumers have often sought stability and flocked to products like insurance. During the unprecedented times of the past year, that was no different. Franklin Madison wanted to know more about these behaviors, so we…