Spotlight: Banking Heads of Marketing

A looming recession could accelerate personalization priorities for banking CMOs. If a slowdown puts budgets on shaky footing, marketers will need to marry cost efficiency with long-term strategy. Personalized acquisition and engagement—already crucial advantages—could become business-critical strategies. Key Question: What personalization strategies should marketers at financial institutions (FIs) pursue, as economic uncertainty clouds the future? KEY STAT: Over 40% of financial services executives in North America identified greater customer lifetime value as one of the top benefits of delivering highly effective personalized customer experiences, per a November 2021 Forrester survey, conducted on behalf of Blend. This indicates the importance of personalization to the bottom line. Table of Contents Executive Summary Leading Personalized Sales for the Long Run Personalized Offers Are a Tall Order Practical Challenges to the Personalized Journey How the Bank CMO’s Role Is Changing B