Now we live in a new post COVID19 world and urgently have to restore a pace of already lost growth. Where the partnerships are able to realise their hidden potential.
After work in b2b Swiss credit company and with banks, I remarked how to engage with partners — whether fintechs or traditional companies. Current crisis is the best time to take advantage of the opportunities that exist.
That marketing activities will facilitate the delivery of services that enable and engender loyalty of your customers.
Keep in mind all measures demonstrate that your brand/company are listening to, understand, and communicate with consumers in a unique way.
1. Marketing, Sales & Services Integration. Often all customer interactions and communications (via telephone, direct mail, email, and digital) are realised in particular way across partnerships.
Integration of these services serves a common goal: customer needs in order to generate maximum revenue and profit.
Integrate all in CRM to track client’s action: call, mail, newsletter, call from ads in search, filling out website’s form, partners’ newsletters, messages from social media. In a few cases it’s a mono vendor solutions but usually a hybrid from different integrated services that usually we do for our customers.
2. Create Collaboration Strategy.
Many partnerships in fintech including banking do not establish a thoughtful strategy, but such companies like international IT/software vendors benefit greatly from the leverage partnerships.
You need to develop a 6 months actions plan for offline and online activities with your partners. Discuss and agree goals, deadlines, a budget, KPI like leads and % possibility of real deals.
3. Establish Customer Knowledge
Continuously update knowledge of customers’ needs, motivations, and behaviors over the lifetime of the relationship. Conduct surveys, put this info in CRM. Consolidate customer databases to create unique customer ID, use matching algorithms to create the full picture of the customer across all data points.
4. Data Privacy.
Customers own their personal data, customer data is essentially bound to the company that collects it and can only be used for the stated purposes.
Thus, it is important to declare data sharing in “general terms and conditions” to obtain permission to use data.
You need to implement well-designed policies and procedures to ensure data is managed in a privacy-compliant and ethical manner.
5. Exchange of Customer Information
Exchanging information is a crucial nuance to a successful marketing strategy and depends on managing privacy constraints.
After coming of Neo & crypto banks to the market, traditional banks seek to customer-centric model by creating loyalty, somehow addressing pain points, trying to improve experiences, and engage the customer as an individual.
Share data within proven partnership, it brings smarter suggestions that work for customers. The approach to managing marketing and CRM requires a tighter collaboration between partners. By fact you need to change partnership agreements and conditions, it brings value for both partners.
This creates additionally value in rewards and loyalty programs and place partnerships in win-win position.