The Finance Industry's Playbook for Customer Acquisition

Acquiring new customers is a crucial marketing task for any company– but it’s especially difficult for the banking and finance industry, where customers tend to rely on word-of-mouth and are exceptionally inert when it comes to switching services.

A recent survey of financial services customers found that 43% of respondents first heard about the financial services provider they are currently using from their friends or family, and 73% are not considering switching to a new provider.

These findings make customer acquisition for banks and financial services companies a particularly challenging and costly endeavor that can burn through marketing budgets in a flash. A recent Gartner survey revealed that CMOs spend nearly 40% of their budgets on acquiring new customers, making it incredibly important to have a focused acquisition strategy.

This whitepaper takes you through the four phases of program development:

• Establish a baseline and define objectives
• Define your audience
• Identify your audience’s needs, motivations, and preferences
• Put your go-to-market plan into action