Synchrony

Personalization Expert Award Winner

With over six years of experience, Synchrony’s seasoned team leads one of the most advanced personalization programs in the financial sector. This multi-billion dollar financial services company is recognized for the third consecutive year for its excellence in audience targeting, A/B testing, and creating personalized multi-touch experiences throughout the customer lifecycle, spanning from marketing websites to servicing and pre and post-login environments.
Awarded to leaders in our customer base who have a complete grasp of experience optimization, deploy campaigns across channels, are targeting and segmentation pros, and push the limits of personalization to create real value for their customers and their businesses.
Synchrony manages private-label credit card programs for some of the largest retailers in the world. The personalization team oversees a wide range of platforms, including marketing websites, servicing sites, and pre and post-login environments. Synchrony users have complex lifecycles and carry an abundance of data. With Dynamic Yield, the team can anonymize this sensitive data and use it to deliver a highly targeted experience to audience segments, resulting in a more intuitive, educational, and seamless banking experience. Notably, the team this year achieved a streamlined multi-channel experience, creating consistent journeys between paid ads, emails, and landing pages. The team also tested personalized messaging, creating a sense of value for prospects, and launched a series of 
hero banner tests that drove increased card utilization in multiple spend categories.

How Synchrony Does It

Prioritizes scalability without sacrificing innovation. Synchrony’s team, which has grown from a handful of people to a polished department with 40 daily users, runs initial tests to determine potential impact, leveraging this early data to build out a roadmap that can be scaled across the organization. The innovation of this roadmap hinges on early testing decisions. This year, Synchrony prioritized the experimental launch of use cases via API, enabling them to deliver personalization in paid media and email journeys. The data from these initial tests will help leaders scale across channels to maximize impact.

Continuous optimization. The Synchrony team has an iterative mindset, running multiple variations of successful tests to continue optimizing after early data. The team launches hundreds of campaigns each year with multiple variations to quickly find the experiences best suited to customers.

Commitment to data. Synchrony defines all its campaigns with a goal and hypothesis, reporting back on results through this lens for clear takeaways and next steps. They also define their audiences with a commitment to targeting. Financial institutions carry a wealth of customer data, and Synchrony anonymously leverages this data in Dynamic Yield via a LiveRamp integration, which helps them build extremely detailed audience segments without compromising security.

What it looks like

Multi-channel journeys
Retargeting
Content Personalization

Multi-channel journeys

Previously, Synchrony users did not see consistent content between paid ads, emails, and the landing pages attached to these channels. With daily changes in bank rates, hard-coding this content was risky and unscalable. So, the team used API campaigns through Dynamic Yield to create consistent journeys for Paid Media and Email audiences. Paid Media campaigns yielded a 1.08% uplift in clicks and incremental new accounts, while Email campaigns yielded a 1.46% increase in applications — margins with a long-term impact for the business.

Retargeting prospects with welcome-back messaging

Synchrony’s retailer partners wanted to improve cardholder application rates from visitors with an existing affinity to the retailer. So, the team used a Dynamic Yield template to display “welcome back” messaging to returning prospects on mobile devices, creating an instant sense of value for the visitor. This retargeting campaign drove a 3.9% incremental lift in card applications across 3 of Synchrony’s sites, and over 30 retailers were able to implement the solution with minimal additional effort.

Testing hero copy to increase spend

Traditionally, the hero space on a cardholder login page featured messaging related to account services. The team wanted to test location-based messaging to increase card utilization in certain categories. So, they promoted the locations of retailers accepting the card in the banner space. The campaign drove incremental lifts in CTR and spend on mobile and web — with an estimated impact of $11.7 million if rolled out at 100%.

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