Mar 8, 2024
Customer data platforms (CDP) are now a staple for many financial institutions. Their ability to aggregate customer data is essential for overcoming data silos and setting a foundation for delivering exceptional customer experiences.
However, many financial services teams who decide to invest in a CDP face two common challenges:
In this guide, we’ll show you how Insider — our industry-leading CDP and cross-channel personalization solution — can help you unify your customer data while overcoming both issues and driving conversions, revenue, and retention as quickly as possible.
Fast and guided implementation process
Detailed 360-degree customer profiles
Powerful segmentation and behavioral analytics
Built-in channel access, personalization capabilities, and marketing automation
Industry-leading machine learning and AI for marketers
How Allianz used Insider’s financial services CDP to deliver ROI in days
Unify your customer data, predict future behaviors, and deliver personalized experiences with Insider
Organizations in financial services (Allianz, Garanti BBVA, Etiqa), telecommunications (Vodafone, Inea, Circles.life), beauty and cosmetics (Avon, Mac Cosmetics, Clarins), and many other industries use Insider for centralized customer data management, audience segmentation, behavioral analytics, and data activation across 12+ channels.
To learn more about Insider, book a demo with our team or try the platform yourself.
Implementing a CDP can be a difficult task, especially in the financial services sector. From identifying all relevant data sources and stakeholders to setting up the platform and ensuring it’s working correctly, the process often takes tons of effort and engineering time.
We’ve seen many clients struggle during the process, which leads to slow time-to-value and ROI. That’s why we’ve strived to eliminate as many of these setbacks as possible.
First, our Integration Hub lets you easily connect to 100+ tools across 20+ categories with minimal reliance on technical teams. Some of these solutions include:
You can also connect to any other online or offline source (e.g., legacy systems) using our flexible API. Put simply, Insider’s versatility lets you seamlessly plug it into your existing data sources, tech ecosystem, and workflows.
During the process, our experienced global support team:
Thanks to the versatile setup options and best-in-class support team, customers consistently rank Insider as the best CDP in terms of ease of setup, ease of use, and quality of support.
Once set up, our CDP automatically creates 360-degree profiles of all your customers. These profiles can aggregate essential first-, second-, and third-party data, including:
We store this unified information for five years but that period can be extended depending on your business needs. Plus, our platform automatically updates these profiles in real-time as customers continue to interact with your brand online (e.g., via your site, mobile app, or emails) and offline (e.g., at your branch offices).
Our CDP even creates unified profiles for all anonymous visitors who browse your site. This enables you to employ anonymous visitor personalization — the process of tailoring the on-site experience to people who haven’t shared contact information with you yet.
By doing that, you can drastically reduce the time and money it takes to convert new visitors into leads and customers.
With your data unified, you can start segmenting your audiences to find the right customers to target with your marketing efforts. Insider helps you do this with 120+ attributes, including traits, behaviors, and preferences across three different audience types:
Insider also makes it possible to use your unified data to perform detailed analyses of your audiences and come up with granular, actionable insights for your campaigns.
For example, using our behavioral analytics capabilities, you can:
In short, Insider’s segmentation and behavioral analytics enable you to power your decision-making, customer targeting, and overall business strategy with reliable insights.
Up to this point, we’ve covered the more classic CDP use cases — data unification, segmentation, and analytics. While important, these activities don’t cover the process of data activation, i.e., actually using your unified data to create personalized campaigns that drive revenue.
This is an area where traditional CDPs struggle as they don’t have built-in activation channels and personalization capabilities. Instead, they rely on passing their data to third-party systems, like email platforms, push notification tools, personalization software, and so on.
As a result, marketers must constantly navigate between different solutions in order to build, manage, and analyze their campaigns. This overcomplicates their workflows and increases the total cost of ownership (TCO) of the entire martech stack.
Insider avoids that issue by bringing together 12+ activation channels, advanced personalization capabilities, and a customer journey builder under the same umbrella as our enterprise CDP.
In fact, Insider is also a leader in various categories based on reviews from customers and industry experts, including:
Insider enables you to reach your customers where they’re at by supporting a variety of channels, including:
This means you can drastically reduce the number of point solutions you’re using in favor of a truly unified marketing platform. We’ve seen plenty of companies do this to reduce their martech stack’s complexity and TCO.
At the same time, you don’t have to use all of Insider’s channels and capabilities right away.
For example, one of our biggest clients in the financial services industry (Allianz) started by using Insider’s CDP to unify their data and our push notifications to increase opt-in rates. They saw the fantastic ROI our solution delivered, so they’re planning to expand to other channels (like WhatsApp) and use cases (like journey orchestration).
While the ability to reach customers on different channels is important, being able to personalize the experience across all touchpoints is what can skyrocket your ROI.
Insider was built specifically for the personalization era, so it enables you to individualize every touchpoint, including your:
Besides personalizing each touchpoint, Insider lets you tie all channel interactions into a cohesive experience using Architect — our customer journey builder and marketing automation solution.
Architect lets you create all sorts of different customer journeys using a simple drag-and-drop editor shown below.
You can easily set the channels and rules (e.g., wait times, conditions, and so on) for each journey, as well as A/B test different messages and journey flows against each other.
You also have detailed analytics into each customer journey’s performance right inside Architect or in a separate, fully customizable dashboard, like the one shown below.
Put simply, you can use Architect for tons of use cases, including:
These consistent experiences across all touchpoints can help you exceed your customers’ expectations and improve key metrics like engagement, revenue, and retention.
Machine learning and AI technologies have experienced a massive advancement to the point of becoming a must for many marketers, including in the financial services industry.
As we mentioned earlier, Insider offers some essential capabilities in this regard, like predictive segmentation and personalized product suggestions. That’s just the tip of the iceberg though, as our platform offers a plethora of other AI-powered features, including:
Now that you know how Insider’s platform works, let’s look at a real-life example featuring one of the top financial services companies in the world.
Allianz is a leader in the financial services industry with an extensive network spanning 4,000 agencies, 1,500 branches, and over 7,200 contracted institutions. The company is known for offering digital-first solutions to their customers, which is why they wanted a technology partner that could enable them to deliver personalized, timely, and relevant digital experiences.
Specifically, they needed a platform that could help them deliver better customer experiences without the need for tons of dev support. In order to improve key metrics and make data-driven decisions, they also need to centralize their customer data.
Our platform was just the right solution for the job. By connecting their data, Allianz was able to overcome data silos and uncover useful insights much faster and with much less reliance on technical teams.
Insider also enabled Allianz to build AI-powered segments and deliver tailored customer experiences. For example, they were able to achieve an 80% opt-in rate using our mobile app push notifications.
Overall, the ease of setup and our platform’s versatility enabled Allianz to achieve ROI in days and increase their customer lifetime value (CLTV).
Here’s what their Marketing and Service Design Group Head said about working with Insider:
“Insider gives us the unified customer view we were searching for. The platform offers real-time server-to-server integration and an encrypted identification approach, which gives us the security and freedom to create precise AI-powered segments and use them to build better customer journeys.”
For more examples of how financial services companies benefit from working with Insider, you can check out the following case studies:
Insider is an ideal financial services CDP and enterprise marketing platform if you’re looking to:
Click here to book a demo with our team and learn how Insider can help you reach your business goals.
Written by
Katie Morley
Katie is an award-winning content marketer with over eight years of experience in content strategy, development, and copywriting. As Global Content Director at Insider, she currently oversees content strategy across 26 regions. Fun fact: Katie read 64 books last year (for which she owes a long commute and two week-long holidays where she spent approximately six hours a day with her nose in a book).