Personalized relationship marketing: Deutsche Bank rose to the challenge
The bank sector is not the first sector that comes to mind in the context of a relationship strategy, personalized campaigns and marketing automation. And yet, sending relevant messages at the right time is crucial in marketing, including for banks.
Since 2006, Deutsche Bank’s Belgian subsidiary has risen to the challenge however, successfully developing personalized and automated targeted campaigns. Philippe Etienne, co-Head of Client Communications at Deutsche Bank Belgium discussed the bank’s success story with Gondola Magazine.
A 50% average open rate.
A 12% average click rate.
The recipe for success:
- a comprehensive cross-channel strategy,
- relevant programs,
- a good balance between digital/human
- a continuous collaboration with ACTITO.
Deutsche Bank’s ambitious program
And what an undertaking it was: launching more targeted messages to ensure that e-mail campaigns became a cornerstone of is relationship marketing strategy in the bank sector. It is glaringly obvious, however, that Deutsche Bank Belgium successfully pulled off what it set out to achieve, namely targeting and personalization! The bank, which specializes in financial advice, has crushed all the records, with an average open rate of 50%, which is 2.5 times greater than the European average in this sector.
In 2018, an IBM study reported that the average click rate for the European bank sector was 2.5%. Deutsche Bank, meanwhile, achieved a click rate of 12%! Such success rates are not achieved overnight. The bank needed to work, share, learn and adapt to achieve these effective results.
A dedicated team, combined with agile technology, and GDPR compliance
Eric Godefroid, the CEO of ACTITO Belgium, stresses: “You must combine digital and human instead, because 80% of the learning happens during the process.” Philippe Etienne adds that debriefing sessions are organized every three months, that enable the project partners to adapt the marketing automation strategy so it continually evolves. Topics range from how to improve templates, targeting, campaign reporting, profile-based personalization…
The bank sector is a unique sector. The usage of personal data is a very sensitive topic and requires additional precautions, that are very different from the retail sector. ACTITO, the European leader for agile marketing automation, combined good advice with a GDPR-compliant platform. The dedicated teams, that are always on hand to assist customers, focus on developing hyper-relevant content for the marketing campaign, when and where needed, based on each user’s profile.
The Deutsche Bank case, a success story in the bank sector, is innovative because of the level of personalization that is achieved, which is unique in this sector. To find out more, click below to read the article in Gondola Magazine.