Bridging the Growth Gap: A Data-Driven Approach to Increasing Share of Wallet in Financial Services
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Home / White Papers / Bridging the Growth Gap: A Data-Driven Approach to Increasing Share of Wallet in Financial Services
Enhance Revenue and Customer Loyalty through Data Analytics
Traditional business growth strategies centered on customer acquisition are becoming increasingly expensive and inefficient. As digital marketing costs rise and new FinTech companies continue to erode market share, financial institutions face growing pressure to do more with the customers they already have. Forward-thinking banks, financial businesses, and insurers are focusing on growing their Share of Wallet (SoW) to sell more products and services to existing clients as a sustainable and profitable path to growth.
Yet despite the clear opportunity, many organizations struggle to execute effective SoW strategies. Disconnected systems and fragmented customer data limit the ability to identify and act on cross-sell or upsell opportunities. Without visibility into customer behavioral patterns or product gaps, marketing teams don’t have the insights they need to target individual needs.
Download this white paper to gain a clear and actionable roadmap for overcoming these obstacles. You’ll discover how to unify customer data across departments, apply predictive analytics, and run highly targeted marketing efforts that drive engagement and conversion. If your institution is looking to increase revenue per customer and maximize lifetime value, this guide offers the insight and tools to make it happen.
Download this free white paper to learn more about:
- Why expanding Share of Wallet is a critical growth lever for financial institutions
- The operational and data challenges that prevent effective cross-selling and upselling strategies
- The role of predictive analytics, segmentation, and personalization in identifying revenue opportunities
- Key KPIs that signal wallet share potential
- How Lumify360 helps unify data, forecast intent, and drive personalized engagement
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