Top 3 ways to personalize for the financial sector

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90% of EU banks invest less that 0.5% on digital. Yet digital banking sees almost £1.5bn in transactions every day.  If the airlines who, like the financial sector, faced similarly tough data risks and security issues, have been able to digitally personalize and optimize their customer experience, then financial institutions are truly behind. And the clock is ticking as newer players among lean pureplays outbid their traditional counterparts. 

Why web personalization matters

Web personalization is a way of ensuring that you can create a better customer experience online. It means that instead of using sites as a one size fits all solution, you are able to tailor and adjust the site to the individuals that come across it. A recent McKinsey report calls out the need for improved customer targeting and visitor segmentation, alongside more dynamic and tailored online offerings. 

The pillars of web personalization are acquisition, through personalizing offers for targeted segments, and retention, through seeing the customer via their visitor history.

Three ways you can personalize your sites:

Reassurance messaging 

If there’s one thing that finance sites need to do is build the trust of their customers. Whether that is through having secure online sites, re-building society’s perception of banking or even letting the user know more about your brand, messaging is key.

Creating visual signposts is key. Serve a layer to returning visitors who may need brand reassurance before enquiring. Perhaps you could send them a message about renewals, demonstrating the trust of your customers? Or even implement a third party reviews widget, such as TrustPilot, which would integrate your their live feed straight onto your website. Another very simple, yet effective, idea is to serve a layer pointing users to your FAQs. This could be triggered to those who seem to be lingering on a page longer than expected or has reached a specific scroll depth. Clear communication is the key to any trusting relationship!


Hyperlocal targeting

Segmenting by geolocation to create highly relevant personalized messaging is a core method of acquiring and encouraging enquiries. From country to city level, you can get as granular as you like, but the key purpose is to ensure that the customer feels they gain a relevant experience.

Research states that some of the highest home insurance premiums are in Birmingham. Using metro area as a segmentation criteria, you could take over the hero image and offer Birmingham and the surrounding metro area to offer them a discount. Other simple ideas include, encouraging people to visit their local branch or reacting to recent events- such as flooding.


Targeted offerings

Discounts and voucher can often help your conversion rate optimization strategy. But it can equally damage your bottom line. The solution is to therefore use targeted offers based on the user’s past history.

It’s important to maximize all the data you collect, and even more important to use the data at the right moment during the customer journey. For example, you could create a segment of users who purchased travel insurance several times a year. Using visitor history, you could offer this segment a discount on long stay insurance or 18 months cover. Equally, you could serve those users who did not purchase last year yet completed a quote a specific offer to encourage them to purchase this year. Automate the process further by pre-populating last year’s data, reducing data entry and form abandonment- especially important on mobile devices.


By giving your customers a more personalized experience online, customer acquisition and customer retention will become something you have far more influence over. For more great examples of personalization, take a look at our ebook: The Top 10 ways to personalize for the financial sector.

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