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MAKING CONNECTIONSIN A DIGITAL ENVIRONMENTDATA MARKETINGOPPORTUNITIES:INFINET’S CLIENT CENTRAL &FINANCIAL INSTITUTION OPTIONSIn 2020, Infinex distributed our Making Connections in a Digital Environment Guide. It highlighted success stories and suggestions for investment program growth in an increasingly digital world. You can still access the guide using this link.Since its release, digital adoption by financial institutions has become imperative for survival. In 2021, a bank and credit union’s digital capabilities were among the “top drivers” of customer stickiness and customer attrition.1Given the popularity of platforms like Netflix and Amazon, customers across all industries have come to expect timely, consistent messaging specific to their behaviors, interests, preferences, and more.FOCUS #1: Investment Progrm ClientsMake the Most of Client Central& Infinex Marketing SolutionsConsider Data Collaboration for Further PersonalizationImplement Client Connect & Associated Marketing OpportunitiesFOCUS #2: Clients & Members Without n Investment ReltionshipStrategically Market to Clients Without an Investment RelationshipDeliver Impactful Financial Education Resources to Specific AudiencesFOCUS #3: Consumer & Behviorl DtApply Additional Data Integrations & InformationFinl Points for Review - Disclosure/References to Follow67%of consumers think it’s important for brands to automatically adjust content based on current context.2Whether you are new to using data to customize client engagement or consider yourself a data marketing expert, we hope you find this reference helpful. Our goal is to showcase how Infinex can collaborate with your financial institution to enhance the client experience, promote cross-selling, and drive revenue.79%of customers say personalized marketing tactics increased their loyalty to a brand and company. 384%of Americans say that personalized content is very important when working with a financial advisor. 4
SEGMENT/DATA TRIGGERFIRST SUGGESTED MARKETING TACTIC (Infinex Branded Example is Linked)New Client Added (Use Date Range)Welcome to “Investment Program” Letter/EmailProspects (Use Contact Type & Date Range for Recent Prospects)Direct Mail Introduction Letter & Rep BuckslipLast Name or Address Change(User Driven Added Data)Your Life. Your Financial Plan. Email or PostcardInvestment Account Anniversary (User Driven Added Data)Personalized Thank You Note and/or Annual Review Reminder Letter via Direct MailAnnuity Maturity DateAnnuity Term Horizon Email and/or PostcardFixed Annuity OwnerHow Healthy is Your Annuity PostcardNew Insurance AccountYour Financial Future Flyer via EmailSelf Employed/Small Business OwnerSmall Business Owners Solutions Flyer via EmailActive Military(User Driven Added Data Coming Soon) Members of the Military: Personal Financial Planning Article via EmailClient Nearing Retirement Age Defined by Rep or ClientLiving Well in Retirement Email and/or PostcardWhat’s Your Retirement Picture? Email and/or PostcardDependent Currently on Contact CardSaving for Education & Retirement EmailDependent Added to Contact CardCovered & Ready Insurance EmailClient Getting Close to 55Retirement Income Checklist via EmailClient Getting Close to 62 (Social Security)When I Retire, How Much Will I Receive from Social Security? Article via Email, Social Media, or Direct MailClient Getting Close to 65 (Medicare)How Do I Enroll in Medicare? Article via EmailClient Getting Close to 72 (RMDs)What Are RMDs? How Are They Calculated? Article via Email, Social Media, or Direct MailMilestone BirthdayBirthday Card/Email Specific to AgeFOCUS #1: Investment Progrm Clients Make the Most of Client Central & Infinex Marketing SolutionsPersonalizing outreach to investment program clients does not have to begin with a complicated or automated process. (Although, automation will be an end-goal.) Reference the list below to segment your book using Infinet’s Client Central filters. Start by selecting 3 or more segments. Extract associated contact lists from Client Central that include addresses and emails. Use these lists to distribute the suggested marketing tactic or a similar communication piece. All the marketing materials listed and linked below have already been created by Infinex Marketing. In many cases, you will want to involve your local marketing team or print shop to brand these pieces and update the contact information. They can also help with email and print distributions. For original art files or Infinex Marketing assistance, email marketing@infinexgroup.com. All our materials are available in digital and print formats. They can easily be updated to reflect your brand.
Reminder: The table to the left includes active links to the defined marketing tactics. This is just the first suggestion. Infinex’s marketing library includes multiple options for each segment that can be used to optimize further engagement. Here are just a few examples of items not listed:Consider Data Collaboration for Further PersonalizationWith support from your local technology team and collaboration from Infinex, applicable bank or credit union data can be securely added to Infinet’s Contact Cards. This allows investment professionals to know if and when their clients accessed other services at the financial institution. (Think checking/saving account information, mortgages, auto loans, etc. Be sure to dhere to ll bnk nd credit union privcy policies. Dt my be shred for mrketing purposes only.*)Data collaboration delivers a more comprehensive client picture and allows investment professionals to further tailor their support and advice. It is also a critical to developing new leads across the entire financial institution and can increase overall client satisfaction. Here is an example:CLIENT ACTION AT THE FINANCIAL INSTITUTIONSUGGESTED FINANCIAL PROFESSIONALENGAGEMENT & MARKETING FOLLOW-UP1. An investment client applies for a SBA loan at the financial institution.A note with details about the loan request populates in Infinet on the associated Contact Card.The financial professional contacts the SBA loan officer to discuss insurance needs. (All available options would be discussed with the client.**) A Small Business themed email is also sent. 2. The requested SBA loan is approved and/or funds to client.Another note with details populates on the associated Contact Card.The financial professional calls their client directly to say congratulations. They also provide a Small Business Retirement Solutions article or a similar helpful reference.
Implement Client Connect & Associated Marketing OpportunitiesOur Client Connect platform consolidates asset information available in Infinet to facilitate customer-facing online account access. Our aggregation services ensure that Client Connect provides detailed investment information in a clear to understand and visually appealing way. The platform’s logo, colors, and interface can be updated to reflect the program’s unique branding. Sharing Data Works Both Ways! Are You Using Infinex’s MCIF Files?In addition to feeding data to Infinet in a secure manner, Infinex can also safely deliver investment program data to your financial institution’s core system. File types include client information, commission details, security positions, etc. Other options like householding and suitability details can help you individualize marketing, transform branch engagements, and define call center goals. View this reference for MCIF file information. (All data shared is for marketing purposes only and would not include account numbers.*)Document Vault: New!The document vault allows financial professionals and their clients to securely share, transfer, and store important documents. A great tool for all financial institution and investment program clients.Digital Marketing: 2023 Release! Prepare Now.Use Client Connect’s display and link capabilities to add timely digital ads and marketing messages that are relevant to the client’s age, life cycle, previous purchases, etc.Infinex’s pre-existing marketing materials and tools alleviate the time and stress placed on your local teams and agencies.Infinex currently offers two Client Connect integration options including third-party account integration and single sign-on through an existing banking or credit union portal. Both options streamline the client experience as customers receive a more wholistic view of their financial situation including investment account assets and values, holding information, transaction history, and more.Mobile View & Security: The platform employs mobile friendly, responsive layouts and design. All involved systems use modern, stringent security settings.6XAs branch traffic decreases, the number of customer digital transactions increases exponentially. Customer digital engagement could soon increase by sixfold or more.5LEARN MORE
SEGMENT/DATA TRIGGERFIRST SUGGESTED MARKETING TACTIC(Infinex Branded Example is Linked Below)New Bank Account Opened Investment Program Awareness Letter/EmailSavings Account Hits Threshold #1 as Defined by the Financial InstitutionWhat’s the Value of Working with a Financial Representative? Statement Insert, Email, Direct MailSavings Account Hits Threshold #2 as Defined by the Financial Institution Your Life. Your Financial Plan. Email or PostcardSudden Increase in Saving Account Balance Direct Mail Introduction Letter & Rep BuckslipNew Small Business Loan Application Your Passion Deserves Your Full Focus Email Small Business Loan ClosesBusiness "Request to Meet" LetterNew Home LoanProtect Your Mortgage With Life Insurance LetterLast Name or Address ChangeDo you Have a Tailored Financial Plan in Place? PostcardNew Joint Account OpenedFinancial Clarity & Direction Postcard or EmailDirect Deposit Set-Up or ChangeNew Job/Fresh Start Postcard or EmailDirect Deposit STOPSChanging Jobs? Know Your 401(k) Options Article Email, Social Media, or Direct MailAccount Opened For a MinorInvesting in a Child’s Future Email or PostcardBeneficiary AddedDo You Have the Right Life Insurance Coverage? EmailClient Opens IRA Account at The BankIRA Contribution Review Letter Investing in a Child’s Future EmailClient Getting Close to 40 or 45What’s Your Retirement Picture? Email, Social Media, or Direct MailClient Getting Close to 50What Are Catch-Up Contributions? ArticleClient Getting Close to 55Are You Concerned About the Course of Your Financial Strategy? Email or Direct MailClient Getting Close to 62 (Social Security)Timing is Everything Social Security PostcardClient Getting Close to 65 (Medicare)Making Decisions About Medicare ArticleClient Getting Close to 72 (RMD)RMD Options Letter/EmailCurrently Retired/Recent Switch to RetirementNeed More Income LetterUnemployment DepositDo You Still Have a 401(k)? EmailStrategically Market to Clients Without an Investment RelationshipAs you know, financial institution data can also be used to develop new leads and enhance overall satisfaction for bank clients or credit union members without an investment relationship. Proactively educate them on specific services and products at the right time in their lives. When addressing this segment, Infinex materials will still be advantageous and can save time and money. We can also help with data segmentation plans and the applicable messaging. FOCUS #2: Clients & Members Without n Investment Reltionship
Reminder: These tables also include active links to the suggested marketing tactics. Below are a few examples of the items we propose. On top of in-house services, we have a full library of pre-approved client educational articles, videos, and more in our Digital Solutions Center. If your local marketing team does not yet have access to Infinet, be sure to contact your Infinex Relationship Manager today.SEGMENT/DATA TRIGGERFIRST SUGGESTED MARKETING TACTIC(Infinex Branded Example is Linked)Bank Client AnniversaryWhy You May Need a Second Opinion PostcardACH or Direct Deposit in Excess of Monthly NormAccumulate. Grow Your Success. Email, Statement Insert, or Direct MailCD MaturingMaturing CD Letter and/or Fixed Annuities EmailWomen 25 - 35Women & Money: Taking Charge of Your Financial FutureWomen Getting Close to 50Retirement - Planning Tips for WomenWomen Getting Close to 65A Women’s Guide to Health Care in Retirement ArticleFinancial Institution Data Suggestions & Thoughts (Continued...)While this section of the reference is focused on building relationships with clients or members without an investment relationship, the data sets could simultaneously apply to individuals with investments. Our lists are not intended to be exhaustive. They simply illustrate how to “jump-start” the personalization process by converting one data point into actionable activity. Of course, combining multiple data sets allows you to deploy more nuanced messaging that will resonate with a more defined audience. Here are a few extra suggestions:Our suggestions and messaging can be updated to align with your institution’s preferred segmenting approach.
FOCUS #3: Avilble Consumer & Behviorl DtDeliver Impactful Financial Education Resources to Specific AudiencesNumerous studies show that bank and credit union customers want personalized financial education that proactively answers their questions. Whether using live seminars, virtual events, or on demand education tools, you can use data to deliver resources to the right people, at the right time. Doing so can help strengthen customer trust, increase brand awareness, and start conversations. According to a 2021 study on Banking Customer Experience, there is a direct correlation with increased customer engagement and providing financial education.6 Infinex understands the importance of helping your customers and members navigate all the choices that impact their financial well-being. We also recognize the importance of a multi-channel approach:Apply Additional Data Integrations & Information All previously discussed data and touchpoints can be enhanced even further by integrating available consumer and behavioral analytics. To create a more dimensional view of customers, we must source consumer information from more than our own systems. For example, a direct-mail company can let you know which households in a specific zip code subscribe to golf magazines. You can review this data to determine if these households include any of your clients. Marketing images, digital ads, and communications can be adjusted for this segment to increase campaign success. Here are some other points to review:Use our Digital Solutions Center presentations to host live events and produce recordings to be delivered in on demand formats.Distribute our educational articles and videos to audiences within a specific life cycle.Partner with client education portals like Everfi to reach a variety of audiences starting as early as middle school.Contact your Infinex Relationship Manager for success stories regarding financial institutions that have successfully developed financial education training plans.Generational ConsiderationsWhile most generations are using digital tools in some capacity, each generation has their own financial goals and communication preferences. This means that both the financial institution and the investment program win when we understand a customer’s life stage, interests, and preferences. Highest Impact FirstEach financial institution is in in a unique place with data management and marketing. If the opportunities discussed in this reference feel overwhelming, start with Infinet’s Client Central and the highest impact concepts first. If you are looking for more advanced options and technology integrations, contact us today!Technology & AutomationHaving the right technology in place and removing financial institution silos is imperative to fueling successful analytics and marketing automation. Infinex can assist you in these areas. It’s also helpful to have Executive Management support and one team tasked with project development.
REFERENCES & FURTHER RESEARCH1 “The ‘New Norml’ in Bnking Customer Expecttions,” 2020. Access rticle. 2 “24 Dt-Bcked Resons to Personlize Your Mrketing,” 2021. Access rticle.3 “A Brnd’s New World,” 2021. Access rticle. 4 “Finncil Advisors Need to Amp up Their Digitl Mrketing Efforts – New Reserch Shows,” 2021. Access rticle.5 “Incresed Digitl Bnking Requires Greter Personliztion,” 2021. Access rticle.6 “Why Finncil Litercy Is the New Frontier of the Bnking Customer Experience,” 2021. Access rticle.Wnt to Continue the Dt Mrketing Converstion?Contct your Infinex Reltionship Mnger tody!538 Preston AvenueMeriden, CT 0640(203) 599-6000www.infinexgroup.comNOT FOR DISTRIBUTION TO RETAIL INVESTORS. Investment nd insurnce products nd services re offered through INFINEX INVESTMENTS, INC. Member FINRA/SIPC.* Dt my be shred for mrketing purposes only nd my not include ccount numbers.Be sure to dhere to ll bnk nd credit union privcy policies. **Be sure to discuss ll the options vilble nd be mindful of nti-tying lws nd regultions.