Think Beyond the Clicks: Bank & Credit Union Marketing Demands Holistic KPI Analysis

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Erinn Steffen

Executive Vice President, Operations
01.13.2025

This article, written by Erinn Steffen, EVP-Operations at Mower and our Financial Services specialty lead, was featured on The Financial Brand. Erinn highlights the need for financial marketers to move beyond short-term metrics like click-through rates (CTR) and cost per click (CPC). While these metrics offer immediate insights, they often fail to reflect a campaign’s true value. A holistic approach to KPI analysis ensures marketing strategies align with long-term business goals like customer acquisition, retention, and profitability.

Strategies for Holistic KPI Analysis

  1. Adopt a Multi-Tiered KPI Framework
    • Tier 1: Real-time metrics (CTR, CPC, conversion rates).
    • Tier 2: Short-term outcomes (e.g., account openings and deposit amounts).
    • Tier 3: Long-term outcomes (e.g., retention rates, lifetime value).
  2. Develop Predictive Models
    Leverage historical data to anticipate long-term outcomes based on early indicators, such as engagement with educational content.
  3. Ensure Alignment with Business Goals
    Set KPIs that reflect broader objectives, such as attracting high-value customers or increasing customer retention. Adjust targeting and messaging as needed to improve alignment with desired outcomes.

Marketers at banks and credit unions can make better strategic decisions by embracing a holistic approach to KPI analysis. This ensures campaigns are optimized not only for immediate performance but also for long-term success, helping institutions attract high-value customers and achieve meaningful business results.

To explore these strategies in detail, read Erinn Steffen’s full article on The Financial Brand.

Hey! Our name is pronounced Mōw-rrr, like this thing I’m pushing.