For financial services companies, customer acquisition and maximizing customer lifetime value are becoming more challenging than ever. Many banks, insurance providers, and other financial companies are turning to partnerships to acquire customers more cost-effectively. This blog post explores five ways investing in the channel can drive immense value for banks.
Over a lifetime, the financial needs of consumers vary enormously. Whether it’s a young family looking for a mortgage or an older consumer planning for retirement, the financial needs and wants are varied, and therefore the marketing strategies to target these consumers need to vary as well.
When it comes to finding this kind of fit, one powerful strategy that sometimes gets overlooked is partner marketing. Finance brands get great results when they collaborate with the right partners, at the right time, to target customers during different lifecycle stages.
The performance marketing channel is the perfect environment for testing some of the more innovative and unique online customer acquisition strategies. This is especially true for insurance brands, who sometimes struggle to differentiate their products through traditional means. With that in mind, here are five ways leading insurance brands can optimise their existing affiliate programmes: