The Three Pillars of Data & Insights: How to Uncover & Use to Personalize at Scale

Over the past decade, data has become the cornerstone of marketing as companies focus on delivering a more segmented message hinging on personalization. While consumers have previously been more open to sharing their data with brands, this is changing. And data privacy laws are reflecting this.  

In fact, Facebook reported that they estimate they lost $10 billion because of Apple’s iPhone privacy changes. This is just the start. Google has announced they will also impose privacy restrictions on apps in its app store.  

However, as data privacy laws are changing, consumer expectations are not. They want brands to provide a personalized experience and give them the information they need. But, if organizations don’t have access that they once did, how can they get this information to deliver the optimal experience to their audience?  

With Total Expert as a partner, banks, credit unions, and mortgage lenders can go one level deeper with their consumer relationships by bringing key consumer signals into the Total Expert Platform – meaning that you can truly deliver the right message at the right time because you know exactly where consumers are in their financial journeys.  

For banks, credit unions, and lenders to deliver a truly personalized experience to consumers, they need data and insights to do so. As consumers become savvier about the data and information they share, this becomes more challenging for organizations to leverage.

Within the data and insights realm, there are three key pillars of data that can be leveraged. Ideally, banks, credit unions and mortgage lenders would have access to insights from all three pillars to deliver a hyper-personalized experience and provide consumers with the information they need to support them where they are in their financial journeys. 

Behavioral (50+ industry-leading integrations)

Over the past decade and a half, behavioral data – or how consumers interact with information sources – has become a pinnacle for marketers. It is also commonly referred to as engagement data. This includes everything from how a consumer interacts on a website to whether they are opening or clicking on emails to how they interact with brands on social media profiles.  

For marketers, this has given them essential insight into how a consumer may react to information – and with this, they can then make assumptions of what may work best from a marketing tactic to get them to convert.

The key downfall of behavioral data, though, are the assumptions that must be made along the way. There are no true indicators of what the consumer may be looking for – just assumptions, which may or may not be keyed into key data trends. 

Transactional (Customer Intelligence)

Transactional data goes one step deeper, giving organizations – particularly in the financial services space – a glimpse into what actions a consumer may be taking. This may include applying for a mortgage, paying off a credit card, or even tracking checking account data to understand how much they are paying for a mortgage with another organization.  

Total Expert’s Customer Intelligence gives organizations a deeper view into key transactional data by creating key insights to provide this level of information. From creating an alert when a consumer applies for a mortgage with another lender or indicating when they may be eligible for a refinance due to equity in their current home, Customer Intelligence provides access to key consumer signals to give a deeper layer of personalization.

Motivational (TrueIntent)

In recent years, motivational data – often referred to as zero-party data – has come to the forefront. It relies on consumers to actively give organizations data insights into exactly where they are in their financial journeys. Zero-party data comes straight from the consumer; giving them the opportunity to provide the information that they would like organizations to have in order to build more effective and personalized connections.  

With Total Expert’s TrueIntent, banks, credit unions, and mortgage lenders now have a mechanism to capture zero-party data with industry-leading experiences that are designed to garner a 80% completion rate and drive higher conversions than any other solution in the market. Through the ability to customize survey experiences, organizations can now gain access to the most elusive pillar of consumer data.  

Unlocking the Three Pillars of Data in Total Expert 

Total Expert gives banks, credit unions, and mortgage lenders the opportunity to bring the three pillars of data in one platform to create a single source of truth. With Customer Intelligence, TrueIntent, and the ability to pull data and insights from more than 50+ industry-leading integrations, it gives organizations the ability to transform how they build relationships with consumers.  

Because of the deeper data insights tied to each consumer record, Total Expert enables organizations to effectively segment and hyper-personalize – delivering the perfect consumer journey from first touch to conversion and throughout the entire life of relationship.