3 Major Ways Windfall Can Improve the Marketing Efforts of Financial Service Organizations
  • Colton Rice
  • Jul 22, 2022

The marketing environment has changed drastically in the last few years and it is getting more and more challenging for marketers to target and engage the right prospects. As detailed in a recent blog post, industry changes to consumer privacy, tracking, and third-party cookies have shaken up the traditional ways that marketers bring leads into the funnel and nurture target audiences. For industries such as wealth management, alternative investments, insurance, and retail banking, and more, there are several ways that Windfall can be especially helpful in this ever-changing and evolving marketing landscape. Using Windfall’s precise customer insights, machine learning, and activation into workflows, financial services organizations can better identify their most ideal prospects and highest value customers, to drive more strategic marketing spending, higher ROI, and greater share of wallet. Here are three key use cases for brands in the financial services sector.

#1 –  Find More of Your Ideal Customers

Windfall enables you to find more of your ideal customers with machine learning and AI. Being part of a financial services organization, you likely have a pretty good idea of what an ideal customer profile looks like. Using machine learning, Windfall uses lookalike modeling on this ideal profile so you can acquire customers who look like your very best in Facebook, Instagram, display, and other acquisition campaigns. Windfall’s best-of-breed data science gives you the confidence you need to leverage machine learning to scale up your programs. The end result? You get more of the right people into the funnel, lower your acquisition costs, increase return on ad spend, and increase marketing ROI.

Windfall can also help you find more ideal prospects by identifying audiences proven to have higher conversion rates, and higher lifetime value, which you can use for your own acquisition campaigns. Some of the data points that make up an ideal customer or prospect include information like property value, net worth, and job title. By doing this, Windfall can identify net new prospects fitting your ideal profile, whom you may not yet be trying to acquire, or who aren’t yet receiving the right personalized touches from your marketing campaigns. 

#2 – Understand Your Market

Windfall can help you understand your market by conducting a thorough and accurate Total Addressable Market (TAM) analysis. TAM analysis is a great way to get insight into the size of your potential customer penetration, which can be analyzed by geographic region or by the total U.S. market. Our TAM analysis can be calculated in several ways, which typically include understanding the affluence of a region or identifying potential market penetration based on prospects with certain qualifiers. Knowing this information can help businesses make informed decisions around strategies like opening new locations, where to focus geo-targeted advertising, and more.

#3 – Maximize the Lifetime Value of Your Existing Customers

Partnering with Windfall helps you to better understand your current customer base, including accurately identifying your best customers and pinpointing the right upsell/cross-sell promotions or growth campaigns for these customers. While you may already have a baseline understanding of who your highest value customers are, Windfall can help you determine which of those customers have the highest potential to drive revenue for your company. For example, applying net worth to measure the customer share of wallet, measuring the affluence of your investors, and leveraging our data to determine investable assets are all effective ways to determine which customers present the potential for additional business with your company.

Windfall is the leading source for up-to-date, highly accurate people insights. If you want to learn more about our solutions and how we are helping financial services organizations supercharge their marketing efforts, please get in touch with us. To request a demo, we encourage you to fill out a demo request form

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