Friday, February 20, 2015

Citi Launches Digital Marketing Push with Zillow

Citi recently formed a digital marketing relationship with Zillow (and subsequently StreetEasy). The new partnership is a good example of how retail banks can begin to partner with key providers of information for consumers likely to generate value for retail banks. The article for more information is:

When you consider that somewhere between 6-10% of consumers are switching checking accounts in a given year, and of that, many are customers that are entering college, graduating college, getting married, having kids or buying a new house (in other words, those with a major life event), the opportunity to advertise with customers very likely to switch accounts or purchase a primarily bank account, is an amazing opportunity to begin a new opportunity.

I would expect many more similar deals to occur over the next 1-2 years as banks are getting much more savvy in targeting consumers likely to switch accounts.

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