This article was based on the interview with Chris O’Brien from M&T Bank by Greg Kihlström, MarTech keynote speaker for The Agile Brand with Greg Kihlström podcast. Listen to the original episode here:
First-party data refers to information collected directly from customers, such as their interactions with a company’s website, app, or other touchpoints. This data is valuable for businesses as it provides insights into customer behavior, preferences, and needs, enabling personalized and targeted marketing efforts.
Chris O’Brien discusses how M&T Bank has been focusing on advancing their Martech stack and leveraging first-party data to enhance their marketing strategy. He highlights the importance of integrating omni-channel customer experiences and modernizing marketing technology to effectively utilize first-party data. By utilizing personalization platforms and expanding their Martech stack, M&T Bank has been able to deliver personalized interactions and communications with their customers and communities.
M&T Bank is a top 20 commercial bank in the USA, with a diverse range of business lines including retail banking, commercial banking, business banking, institutional client services, and wealth management. With customers in most 50 states and operations in Europe, M&T Bank faces challenges related to data privacy regulations and differing geographies. However, they have been able to navigate these challenges by leveraging first-party data to tailor their marketing efforts to specific customer segments and regions.
The strategic use of first-party data allows M&T Bank to gain a deeper understanding of their customers, improve customer engagement, and drive business growth. By analyzing customer interactions and preferences, M&T Bank can create personalized experiences that resonate with their target audience. This personalized approach not only enhances customer satisfaction but also increases brand loyalty and retention.
The strategic use of first-party data is essential for financial services marketing. By leveraging customer insights and preferences, businesses like M&T Bank can create personalized and targeted marketing campaigns that drive business success. With the right tools and technology in place, companies can harness the power of first-party data to deliver exceptional customer experiences and stay ahead of the competition.
