Marketers working in the financial services sector have to employ a range of marketing tactics to attract new customers while retaining existing ones. These tactics are what we refer to as financial services marketing techniques and they comprise a range of elements. These include:
- Emerging and new markets
- The objectives and goals of an organization
- Available resources
- Weaknesses and strengths of the organization
- Target markets
With a host of the most influential financial services marketing techniques, your company will have better chances of accomplishing its goals and targets. Those working as marketers in the financial services field surely realize how challenging it is to stand a class apart from the crowd.
This makes it necessary to have an army of comprehensive and effective strategies to support you. In this article, we have rounded the most effective techniques from the experts in the financial marketing world.
Customer Outreach and Building Trust
Since you’re a financial institution, there’s one simple truth that governs your business: people will be entrusting you with their money. Trusting someone with their hard-earned cash is a massive show of trust which you need to build in your customers.
How can you do that? By reaching out to your customers and meeting their needs surrounding awareness, help, and education!
If you are a small organization, you could manage customer outreach in the shape of free webinars and consultations. If yours is a larger corporation, then you can deliver financial education through financial awareness in schools, debt management programs, etc.
Customer outreach helps build customer loyalty, awareness and garner interest in your services and goods. When you carefully formulate your financial marketing strategy, you weigh your products, services, and features with other campaigns.
For instance, if your financial organization geographically resides in an area with a more senior population, your customer outreach could be about digital banking, etc. You could offer free financial education programs to teach the seniors about online security and digital banking etc.
If you operate in an area with more schools and students, you could offer free programs about teaching how to manage money on their own, etc. Such programs will help increase customer confidence and trust in you.
Your Biggest Asset must be Your Financial Services Marketing Website
Your most effective financial services marketing strategy is your financial services website. It is where your marketing efforts must begin and end at. For this mission, it is imperative to have a stellar website design, create exceptional user experiences that outdo other websites, etc. You must ensure maximum functionality of the website and ensure that it simply WOWS your visitors.
If you look at simple stats, you’ll know that 82% of the young smartphone users prefer mobile banking, around the age bracket of 18 to 24 years. This means that the number of consumers using digital channels is only around 46%. If you don’t realize the massive traffic your website gets and how you need to amplify its design and capabilities, you should do so now.
To make your website competent and practical, make sure it has the following elements:
- Secure
- Mobile-first
- Frictionless
- Quick
Big Data and Automation
As a financial organization, you surely have an influx of data. You’re team probably wouldn’t even know what to do with it. Including automation is your next best financial services marketing technique. Including automation tools in your financial services will make the process of using and applying data easier for your employees.
Not only will your employees benefit, but the big data will also tell you about who is saving for bigger purchases, who is seeking pre-approval for loans, etc. With big data and automation, you can identify services before the potential customers need them as well as locate your target customers easily.
You can take the example of many banks right now that are using automation to tailor their services. With the help of automation tools, they’re creating dashboards and custom data for customers in far less costly ways.
If banks weren’t using automation right now, the customers would be getting the same personalized and custom solutions is costly ways.
More Visible to Search Engines
Your financial services will receive at least 700,000 searches online in a month. Now, if you want to convert these searchers into your new customers, you have to make your way to one of the search results pages.
How can you do that? You can become more visible to search engines with search engine optimization (SEO). For SEO optimization and recognition by search engines, you have to include the most relevant factors in your website.
Here is a breakdown of those highly essential factors:
- Topic optimization- choosing relevant and specific keywords and phrases for your topics
- Google RankBrain- using this to analyze the past behavior and pattern of similar queries
- The presence or lack thereof of optimized images on your pages also makes a big difference
- Having qualitative backlinks that direct visitors back to your website
- Including social signals that lead back to your website
- The length of content featuring on your web pages
- The quality of content featuring on your web pages
- Correct or incorrect schema markup
- The speed at which your website loads web pages
- Mobile-friendliness of your website
- The security level of your website
Digital Storytelling
In today’s technological world, digital storytelling has a massive influence. Adopt this effective marketing medium and create compelling stories through ads, videos, social media, and your other cross-channel platforms.
Your marketing strategy must have a story that will capture interest, move, excite and captivate the viewers. Remember to create shareable and relatable content that will entertain and educate while helping your viewers.
Digital media offers you a world of excellent marketing tactics, strategies, and ideas, which you can use to your benefit. Try to incorporate as much of those around a fascinating storyline for your audiences.
Final Thoughts
Financial services marketing comprises a collection of practical and creative marketing tactics and techniques. They all center on the common goal of attracting new customers, building their trust and confidence in you and retaining the existing clients.
With some of these effective strategies in your arsenal, your financial services organization will undoubtedly earn an unbeatable reputation in the sector.
