Customer loyalty is waning in the financial industry as consumers are presented with a vast array of alternative offerings both on and offline. Careful research and design of customer journeys is having a positive impact on organizations to win, keep, and increase the value of prospects and customers. This is a webinar that I did on behalf of Salesforce.

1. Customer loyalty is waning in the financial industry as consumers are presented with a vast array
of alternative offerings both on and offline. Careful research and design of customer journeys is
having a positive impact on organizations to win, keep, and increase the value of prospects and
customers.
info@listengage.com, @listengage
ListEngage, Salesforce Partner
5 Key Steps to Drive Success with the
Fintech Customer Journey

2. Douglas Karr
Strategic Marketing Consultant
doug@dknewmedia.com, @douglaskarr
Evan Carl
Account Executive, Marketing
Cloud
ecarl@salesforce.com

3. “The customer journey is the complete sum of experiences that customers go
through when interacting with your company and brand. Instead of looking at just
a part of a transaction or experience, the customer journey documents the full
experience of being a customer.”
Journey Definition:
What is a Journey?

4. • Build experiences where my customers are.
• Many moving pieces to proper Journey creation.
• Digital is building a separation between our company and our clients.
Most frequently asked question by prospects and customers
Reason We’re Discussing Journey Creation

5. What customer behaviors are driving change in the financial technology industry?
• It’s not you… it’s them. Consumer behavior is changing and Fintech companies must adapt. Learn why.
Why are Fintech Organizations Struggling?
• Agility, omni-channel journeys, research, and attribution are all creating challenges for Fintech. Learn to overcome them.
How are Customer Journeys Driving Performance?
• While journeys utilize automation, learn how journeys differ from marketing automation and can overcome internal
challenges and external behavioral changes.
What are the 5 Steps to Drive Success with Customer Journeys?
• There are 5 distinct steps every Fintech organization can take to maximize the impact and success of its customer journey
implementation.
How is the Salesforce Martech Stack Leading Innovation in Customer Journey Development and Execution?
• Learn why digital transformation of your marketing strategy requires a world-class solution and how Salesforce is leading
the industry.
Agenda

6. “We need to stop interrupting what
people are interested in and be what
people are interested in.”
Craig Davis, former Chief Creative
Officer at J. Walter Thompson

7. Fintech decision makers are aging
• New customers are technology natives. According to Investopedia, 10,000 baby boomers retire per day!
Consumers are ignoring traditional marketing
• According to Forbes / McCarthy Group, 84% of Millennials neither like nor trust traditional marketing.
Consumers don’t want to talk to you
• While you hope to build relationships, consumers don’t. They want to research and service themselves
online… and the companies providing those resources are winning.
Consumers are are omni-channel
• According to a study by PWC, consumers use mobile, apps and desktops.
46% of customers don’t use branches or call centers, up from 27% just four years ago.
Digital is both the divide and the bridge to reaching Fintech customers
Customers Are Changing

8. Fintech Challenges
We lack clearly defined goals and direction
• Only 44% of businesses say they’re extremely
confident in their organization’s ability to achieve
its vision for growth and 4% aren’t confident at all.
We are struggling to unify cross-channel digital
experiences
• Only 51% of businesses say their organization
addresses specific user needs across all
platforms. Data is siloed and companies don’t
have insight into omni-channel journeys.
We have legacy mindsets that create barriers
for digital transformation
• 76% of businesses say their department competes
with other departments in their organization for
resources and/or budget.
We operate on outdated systems which hinder
the ability to improve digital experiences
• 84% say their organization has disparate legacy
systems that impact the speed of development of
new digital experiences
Financial services companies are struggling to transform themselves
Source: Pointsource, https://martech.zone/agile-marketing-journey/

9. Step 1
Understanding Your Customers

10. Financial literacy
• Are your customers informed? Do they understand the terminology and
strategies associate with personal finance management (PFM)?
Life Stage
• What period of life are they? Are they buying a home, saving for college,
preparing for retirement, starting a business?
Persona
• What demographic, behavioral, and lifestyle information is associated to help
you speak directly to them?
Financial Health
• How are they performing? Are they behind or ahead of their personal finance
goals?
Who is your customer and why are they motivated to work with you?
Step 1: Understanding Your Customers

11. Step 2
Developing Prospect Stages

12. Who are our prospects and how can we service them?
Step 2: Developing Prospect Stages
Help
Are you
helping them?
Relationshi
p
Are you personally
assisting them?
Educate
Are you
educating
them?
Know
Do you know
them?

13. Step 3
Inserting Engagement Points

14. Create a journey that pushes and pulls
• We need to build a framework with journeys, even
in the onboarding stage, that identifies who they
are, what their life stage is, what their interests are,
and then provides education, advice, and the tools
to help them. As the customer interacts and
provides additional information, the journeys can
be refined and personalized.
How can we build relationships with them?
Step 3: Inserting Engagement Points
Ask
Assess
Educat
e
Equip
Personaliz
e

15. What resources do you need to provide?
Build the content and tools to assist
• Fintech companies continue to invest in serving their customers through technology. Now we need to
match the customer to the tool through education, assessment, and buying stage.
Financials
Retirement
Wealth
Managemen
t Credit
Estate
Planning Advisors &
Tools

16. Step 4
Build a Content Library

17. Step 4: Build a Content Library
Build a library of personal finance management information, tools, and resources
Finance
• Literacy
• Assessment
• Tools
• Technology
Retirement
• Cashflow
• Lifestyle
• Calculator
• Social Security
• Wills
• Estate Planning
Investment
• Cash
• Bonds
• Stocks
• Real Estate
• Currency
• Private Equity
• Venture Capital
Credit
• Monitoring
• Improvement
• Cards
• Loans
Mortgage
• Types
• Refinance
Insurance
• Term
• Whole
• Life
• Casualty
• Home
• Flood
• Business
Investment
• Cash
• Bonds
• Stocks
• Real Estate
• Currency
• Private Equity
• Venture Capital
Credit
• Monitoring
• Improvement
• Cards
• Loans
Credit
• Monitoring
• Improvement
• Cards
• Loans
Wealth Management
• Diversification
• Asset Mixes
• Savings
• College Savings
• Taxes

18. Step 5
Design Personalized Communications

19. Step 5: Design Personalized Communications
Designing your communications effectively will
significantly increase engagement
Personalization, Information, Expectations, and Product Information
Introduction
In this email (overview).
Content / Campaign Links
Related Products / Call to Action / Campaign
Links
In the next email overview.
Signature / Contact
Fintech Logo
Open:
•Mean: 23.3%
•Median: 18.7%
•Top Quartile: 46.5%
•Bottom Quartile: 7.8%
Click Through:
• Mean: 3.2%
• Median: 1.4%
• Top Quartile: 9.4%
• Bottom Quartile:
0.1%
Real photos
increase
engagement
and reduce
unsubscribe
s

20. Customer Journey Example #1
New Customer Onboarding

21. Customer Journey Example #1
New Customer Onboarding Stages
Every message:
• Personalized
• Expectations
• Informative
• Call to Action
Iwantedtopersonally thankyouforbeingaCustomer.Overthe
nextweeks,we’regoingtoprovideyouwithaseriesofarticlesto
assistyouandkeepyouuptodateonourproductsandservices.
Karen Smith, Your Bank Manager
Gratitude Resources Tours Survey Information
JOURNEY

22. Customer Journey
New Customer Onboarding
Retirement:
• Planning
• Calculator
• Asset
Management
• Trust & Estate
Planning
Credit
• Understanding
• Checking
• Improving
Gratitude:
• Appreciation
• Assistance Info (in
every email)
• Safety Precautions
• Expectations
Tours:
• Website Tour
• Mobile App Tour
• Statement Tour
Product Overview:
• Consumer Products
• Consumer Services
• Business Products
• Business Services
• Align with Life Stage
Starting a Business:
• How to with Links
• Taxes
• Legal / Licensing
• Hiring
• Loans
Running Your Business:
• Payroll
• Lines of Credit
• Credit Cards
• Leasing
Moving Your Business:
• Justification
• Cost
• Timeline
• Resources
Business Stages
Starting a Family:
• Spousal Benefits
• Buying a Home
• Jumbo mortgage
• Conforming
Mortgage
Preparing for Child College
• Cost of College
• College Alternatives
• Understanding Tuition
• Student Loans
Mortgages:
• Jumbo
• Conforming
• Refinancing
• Home Equity
Consumer Stage
Best Practices
• Minimizing Fees
• Maximizing Interest
Survey:
• Do you have a
business?
• If no, are you thinking
of starting a business
• Are you starting a
family?
• Are you buying a
home?
• Are you preparing for
retirement?

23. Customer Journey Example #2
Increasing Customer Value (Cross-Selling)

24. Customer Journey Example #2
Cross-Selling Stages
Every message:
• Personalized
• Expectations
• Informative
• Call to Action
Basedontheproductsyou’reutilizing, youmayfindthese
additional productsofvalue.
Karen Smith, Your Bank Manager
Gratitude Alignment Survey Differentiation Information
JOURNEY

25. Customer Journey
Increase Customer Value (Cross-Selling)
Product Differentiation
• Benefits
• Differentiation
• Expectations
Tours:
• Educational Content
• Product D Tour
• Call to Action
Tours:
• Educational Content
• Product E Tour
• Call to Action
Tours:
• Educational Content
• Product F Tour
• Call to Action
Tours:
• Educational Content
• Product A Tour
• Call to Action
Tours:
• Educational Content
• Product B Tour
• Call to Action
Tours:
• Educational Content
• Product C Tour
• Call to Action
Gratitude:
• Appreciation
• Assistance Info (in
every email)
• Safety Precautions
• Expectations
Business Stages
Consumer Stage
Product Matrix
• Related Products
• Unrelated Products
• Third-Party Offerings
Data:
• Do you have a
business?
• If no, are you thinking of
starting a business
• Are you starting a
family?
• Are you buying a home?
• Are you preparing for
retirement?

26. Customer Journey Example #3
Increasing Customer Retention

27. Customer Journey Example #3
Retention Stages
Every message:
• Personalized
• Expectations
• Informative
• Call to Action
Wewantedtosharethevaluethatwe’vebroughtyoutodateas
wellasournewproductofferings.Weappreciateyourpatronage.
Karen Smith, Your Bank Manager
Usage Value Gratitude Survey Reward
JOURNEY

28. Customer Journey
Retention
New Products
• Last Quarter
• This Quarter
• Next Quarter
Tours:
• Educational Content
• Product D Tour
• Call to Action
Tours:
• Educational Content
• Product E Tour
• Call to Action
Tours:
• Educational Content
• Product F Tour
• Call to Action
Tours:
• Educational Content
• Product A Tour
• Call to Action
Tours:
• Educational Content
• Product B Tour
• Call to Action
Tours:
• Educational Content
• Product C Tour
• Call to Action
Overall:
• Product Usage
• Value
Unused Products
Used Products
Product Matrix
• Used Products
• Unused Products
• New Products
• Future Products
Product Usage
• Unused Products
• Underutilized
Products
• Used Products
Appreciation:
• Offers
• Partnerships
• Third-Party Offers
• Events
• Gifts
• Advocacy
Company News:
• Community
• Environment
• Cultural

29. Optimization
Measure and improve upon your success!
Analytics
Measurement
Test
Expand
• Email Open Rate
• Email Click-through
Rates
• Site Campaign
Tracking
After 1k completions,
analyze unsub, open,
and click rates to identify
problematic emails
Replicate and adjust
cadence with a duplicate
journey at faster / slower
rate to see results
On annual basis, update,
enhance, and expand
journey content as
needed.

30. Working on your next customer journey?
We’ve developed this checklist to assist
you in covering all the bases to ensure
your success!
• Research
• Resources
• Measurement
• Testing
• Optimization
Download your Customer Journey Worksheet
Free Download
https://dknewmedia.com/journey-worksheet/

31. • Your rep will reach out to you: https://www.salesforce.com/form/demo/crm-marketing-request-
demo/
• Talk to Doug: info@listengage.com
• Talk to Evan: ecarl@salesforce.com - mobile: 919.618.4862
If you would like to learn more…