Not all sectors have developed digitally at the same pace. It’s not as easy for some business as others to rapidly grow a digital presence. And like most difficult problems, it’s not down to a single, simple reason. Organizational structure, regulatory factors and the pressure to keep filling the sales funnel through familiar approaches can slow development of a digital strategy.
For Banc of California, they’d grown success by building relationships with their clients via offline channels and by developing strong personal relationships with businesses, retail customers and communities in California. But they recognized the growing need for an omnichannel communications strategy to remain competitive with both established players and new FinTech entrants.
There was no lack of ambition to grow digitally but the question asked of Wyoming was where to focus resource to most efficiently make up ground in a hyper-competitive digital market. With cost per acquisition running to hundreds or even thousands of dollars for some products, we knew we had to be super-critical of our own approach and ensure we understood attribution completely, monitoring every impression, click, share, page view and conversion.