Overview
A leading financial institution sought to enhance customer experience and optimize its branch strategy to stay competitive in a rapidly digitalizing world. They turned to Factori’s Visit Data to gain deeper insights into customer behaviors, improve branch performance, and increase engagement with in-person and online services.
The Challenge
The bank faced several challenges:
- Understanding how foot traffic varied across branch locations
- Identifying underperforming branches and potential reasons for decline
- Personalizing customer engagement based on physical location data
- Optimizing staffing and operational efficiency based on real-world customer flow patterns
The Solution
Factori provided actionable Visit Data through its advanced Mobility & People Graph, which included:
- Aggregated data on foot traffic across 200M+ global locations, including competitor site
- Insights on customer visits by location type (e.g., banking centers, ATMs, retail partnerships)
- Time-based analytics to measure peak traffic hours and customer volume
- Anonymized behavior patterns to enhance privacy while improving strategy
The Results
By leveraging Visit Data, the bank achieved:
- 45% improvement in branch optimization by reallocating resources based on foot traffic trends
- 23% increase in customer engagement through personalized marketing based on visited locations
- Enhanced staffing efficiency, reducing wait times and improving service delivery
- 5% increase in foot traffic to key branches, as targeted offers drove more in-person visits
Why It Worked
Visit Data helped the bank create a holistic view of its customers’ behaviors, both online and offline, by:
- Understanding customers’ physical movements, such as when and where they visited branches
- Enabling targeted marketing and outreach based on real-world behaviors
- Improving operational efficiency by tailoring resources to demand patterns
Ensuring compliance with privacy standards while gathering key insights into customer preferences
