Using advanced analytics and creating a marketing-IT partnership to increase cross-sell penetration
Many of the challenges related to increasing customer cross-sell penetration rates faced by financial services institution Chief Marketing Officers (CMOs) stem from an advanced analytics environment inadequate for generating customer intelligence. Achieving the necessary empowered advanced analytics environment requires an enterprise customer data management strategy and the integration of channel systems with analytics repositories.
In the past, most marketing departments have managed their analytics repositories with minimal IT support. But to gain and utilize a full customer view which includes channel feedback, marketing will need to develop a stronger IT partnership. This paper discusses a roadmap for creating an analytical environment that is empowered to better supports marketing cross-sell efforts; and the technology enhancements and changes that must be put in place.