As Heard on the Banking Transformed Podcast: Why Data-Driven Marketing Fails in Banking

Most banks and credit unions claim to prioritize data-driven marketing, but far fewer can prove it in customer acquisition, engagement, and relationship growth.

That gap was the focus of a recent episode of Banking Transformed with Jim Marous, featuring Preston Carroll, Director of Data & Analytics at Franklin Madison Direct, and Eddie Tu, Principal Statistical Analyst at Franklin Madison. In the conversation, they unpack why many financial institutions struggle to turn data into measurable marketing performance.

Listen to the full podcast episode on The Financial Brand.

Moving Beyond Dashboards to Real Results

Carroll and Tu emphasize that data-driven marketing fails most often when insights, personalization, and channel strategy are treated as separate efforts. When audience intelligence doesn’t inform messaging, or messaging doesn’t guide channel selection, marketing efficiency and performance suffer.

Successful banking brands align these elements into a single, connected strategy. Predictive modeling helps identify consumers most likely to respond, personalization ensures relevance, and coordinated channel execution amplifies impact. When these components work together, you gain both stronger results and clearer insight into why campaigns succeed.

Why Direct Mail Still Matters

Despite widespread assumptions that direct mail is outdated, performance data tells a different story. Franklin Madison Direct consistently sees higher response rates when direct mail is paired with digital touchpoints before, during, and after mail delivery.

According to Carroll, campaigns that integrate direct mail with digital channels often experience response lifts of 20% to 40% or more, depending on timing, frequency, and channel mix. In an increasingly saturated digital environment, direct mail remains a premium, high-attention channel, especially when targeted precisely.

Bridging Physical and Digital Through Innovation

Direct mail continues to evolve in tandem with technology, becoming increasingly integrated and engaging. QR codes, augmented reality, and interactive experiences allow mail to serve as an entry point into rich digital environments. Consumers can scan to watch real customer reviews, explore products in their own space, or experience a brand story in motion.

These innovations bring novelty to a familiar medium while preserving trust and focus. The experience feels modern without becoming overwhelming, reinforcing connection rather than competing for attention.

The Foundation of the Future: Better Data Infrastructure

While artificial intelligence dominates industry headlines, Tu points to modern data infrastructure as the true catalyst for transformation in financial services marketing. Centralized, dynamic data environments enable faster insights, more accurate modeling, and timely activation across channels.

Without this foundation, even the most advanced AI tools struggle to deliver value.

From Data Awareness to Data Advantage

The conversation made one thing clear: collecting data isn’t enough. Financial institutions that operationalize data through continuous testing, orchestration, and learning are the ones turning marketing into a sustainable growth engine.

Listen to the full episode of Banking Transformed with Jim Marous on The Financial Brand.