The financial services industry is very competitive. You need a strong digital marketing strategy to make your business stand out from the competition and attract new customers.
If you want to reach consumers where they are, you need to have a digital marketing strategy. Financial service providers that take their digital marketing strategy seriously will be able to reach consumers who are always online.
Best Digital Marketing Strategies for Financial Services
1. Take Email Marketing Seriously
Here at Steven J. At Wilson & Associates, we believe that email marketing is the modern equivalent of a newspaper. You are not the only company vying for your prospects’ attention through their inbox. You have competition. The days of sending a newsletter with a list of recent blog posts and calling it good are gone.
To be successful in email marketing today, you need to be personal, tell stories, be interesting, and most importantly, provide value. An effective email marketing campaign can help promote your financial service company in several ways:
- Build trust and credibility – If you provide the type of value that is so high quality it feels paid for, it will be easier to win their attention above everything else in their inbox.
- Nurture relationships – This value over time will allow you to develop deeper relationships that can eventually turn into sales.
- Generate leads – You will not just get any lead. These leads know, like, and trust you since you have been providing value to them over many touch points.
Email marketing is a digital strategy that has a high ROI in the financial services market.
2. Update or Create Easy to Navigate Websites
Nowadays, it is inexcusable for any business to have a website that does not function well, especially the financial services industry. Your website is the digital face of your company. A website is one of the first places a potential customer will go to learn more about a company and what they do.
A website should be easy to navigate so that visitors can find what they are looking for quickly and easily. Calls to action should be clear and concise, and guide visitors to the next step in your sales funnel. Your financial services company website should:
- Load quickly – 47% of consumers expect a web page to load in 2 seconds or less. (Kissmetrics)
- Be mobile friendly – Consumers said when they visited a mobile-friendly site, 74% said they’re more likely to return to that site in the future. (Google)
- Be easy to navigate – 55% of visitors will spend less than 15 seconds on a website that is difficult to navigate. (Hubspot)
If your website is outdated or you don’t have one for your business, now is the time to invest in this digital strategy.
3. Mobile Marketing
There was a time when, if you sent an email, it was almost certain that it would be read. As email became more commonplace, people began reading everything that came through their inbox.
If you are a financial service provider and you want to start using SMS marketing, you can expect to have a 98% open rate for your marketing material.
Yes, you read that correctly. Almost everyone who receives an SMS will open and read it, which makes SMS marketing a very effective way to reach your target market.
4. Social Media Marketing
You are probably well aware of the power of social media. Do you understand how your customers are using social media?
In short, edutainment is hot right now. People are more wary than ever of companies selling them products, so personal branding is doing well by creating conversions.
5. Plan Local SEO
Companies that provide local search services have some of the highest conversion rates. The reason people are generally looking for a financial service provider close to them is because when people are searching for a financial service provider, they are generally looking for someone close to them.
You want your local audience to be able to find you easily when they search online. If you want to appear higher in local search results, you can improve your website and online listings to make them more friendly to local SEO.
Some tips to get started with local SEO:
- Ensure your NAP (name, address, phone number) is consistent across all online listings and your website.
- Collect reviews and testimonials from past clients and post them on your site and online listings.
- Optimize your website for local keywords.
- Add photos and videos to your listings and website.
- Keep your online listings up to date.
If you want to attract customers who are ready to do business with you, try following these tips.
6. Content Marketing
Content marketing is an effective way to connect with potential customers. If you want your digital campaigns to be successful, you need to start by creating high-quality content.
If you take content marketing seriously and work in the financial sector, you’re in luck, like a bank or credit union. They will have a big advantage because lots of other organizations aren’t doing this well.
Some ideas for financial services content marketing:
- Blogging – Blogging is a great way to build trust, credibility, and relationships with your target audience. It allows you to show your expert knowledge on various topics related to your industry.
- Video Marketing – Videos are a great way to connect with your audience personally and show off your brand personality. You can create educational videos, customer testimonials, or even funny commercials that get shared on social media.
- Infographics – People love visual content. You can take complex topics and break them down into an easy-to-understand format by creating infographics. This is a great way to share your content on social media and generate leads.
- Podcasting – Podcasts are becoming more popular each year. They are a great way to connect with your audience and build relationships. You can interview industry experts, share tips and advice, or tell stories about your brand.
If you produce high-quality content, you can stay ahead of new and existing customers, build trust, create brand ambassadors, and most importantly, make sales.
7. Organic SEO
If you want your financial services company to generate leads through search engines, you need to make sure you’re doing SEO (search engine optimization). Search Engine Optimization is the practice of making your website more visible in Google search results for phrases related to your business.
Almost 90% of searchers go to Google when looking for financial information or service providers, so you need to make sure your website appears as high up in the search results as possible.
8. Encourage Customer Reviews
A stranger’s opinion and customer experience almost have as much weight as a personal recommendation. It is important for customers to leave reviews because it helps businesses to grow. Google My Business, Yelp, and Angie’s List are popular review sites that help customers learn about businesses.
Positive customer reviews will help your financial services company build trust and credibility, which will lead to more sales.
9. PPC Ads
PPC campaigns can help you get more leads quickly, in addition to your SEO efforts. The ads that appear on Google search results pages are called pay-per-click or PPC ads. You will only be charged when someone clicks on your advertisement.
PPC campaigns can be very effective if done correctly. Even though vehicles can be beneficial, they can also be expensive if you are not informed about what you are doing.
It’s important to partner with an experienced PPC agency or financial marketing team who knows how to run financial service campaigns.
The campaign will be designed to specifically target your needs and goals.
10. Develop Your Social Media Presence
By April 2022, there will be 4.65 billion social media users around the world. 58.7% of the total global population. In the last year, the number of users increased by 326 million.
The average person spends 2.5 hours per day on social media, visiting 7.4 different platforms each month.
It is not necessary to state that your marketing strategy should include social media marketing. social media is a way for consumers of all ages to stay up to date with the news, give their opinion on brands, make purchases, learn new things, and have fun.
Having an online presence that provides value will help you to engage more customers, increase brand trust and loyalty, and find new marketing opportunities. This will help you to grow your customer base.
Twitter is a powerful conversational tool for both traditional and challenger banks, with online and print media being significantly higher for high street banks. Banks need to address this issue to avoid stunted growth.
Determine which social media channels your target audience uses. But with any luck, this will work There is a chance that you only need to use one method, but it is unlikely. Hopefully, this will work. It could be that you need to market across multiple social platforms.
Decide on your social media strategy…
- Will you use social media for customer service?
- Looking to build trust, back office stories and images will show the human face of your business.
Share helpful, honest, and relevant posts. Humanize your financial services institution.
11. Map the Customer Journey
Analytics can help you map out the customer journey by showing you the various routes that customers take. There are certain journeys that are more important than others, and these should be given priority when determining what actions to take for specific customers.
- Using their preferred social media channel
- Personalizing the messaging
- Eliminating sticking points
Their journey has a goal that’s to open an account, apply for a loan, action a wire transfer, etc. Their journey could start on a mobile app, in a brick and mortar bank, on a phone call, paid ad, website…
How a consumer becomes a customer – their initial awareness of your brand, and the steps they take to purchase.
A consumer journey analytics strategy ensures that all teams in an organization have real-time insights into consumer behavior. Which customers are saving money in case of an emergency and might consider taking out a loan.
Customers who are looking to buy a property will need advice on how to apply for a mortgage. If you’re a young person who is about to leave home and go to university, you might need some advice on how to manage your money.
Giving your teams full-exposure means they’re working in alignment. How can we work together to create the best possible customer experience?
You can identify specific groups of customers who would be interested in your product or service and provide them with relevant information or assistance.
12. Outreach and Engage Consumers
This strategy works for both digital and traditional marketing. A financial service provider is offering assistance to customers and potential customers through online and offline channels. has allowed us to stay afloat The company has survived by offering ‘how to’ videos, money management services, free consultations, webinars, and other business management services.
The Director of Business Banking at NatWest shares insights on how businesses can start their sustainability journey. This not only helps consumers, but also inspires confidence and loyalty among them, and increases brand awareness of the products and services on offer.
Bottomline Technologies, a leading fintech company, used Talkwalker to gain insights into industry conversations and increase brand awareness.
The marketing strategy for a financial service should be based on the product and target the right consumer groups or demographics.
If, for example, government officials are encourage people to buy electric vehicles to help fight climate change, your bank could begin a marketing campaign informing people about the money they could save in the long run by owning an electric car.
The bank could also help with the cost of installing a charging station in the customer’s home.
13. Tell Consumers Stories
Remember, you’re dealing with humans. The goal should be something more than just a marketing tactic. It has to be genuine. Consumers research before spending their cash. Read customer reviews. Ask peers. Can you imagine the research that they do in order to keep their money safe?
Your content should be telling a story, whether it is on social media, a blog, ads, or videos. It should offer advice and reassurance.
14. Answer Questions With Your Content
Financial companies must have a content strategy as part of their marketing strategy. The goal of this strategy is to provide information for every question that a consumer has today, and might have tomorrow.
The content should be easy to understand. It has to help and educate consumers. It has to be recognized by Google as unique and relevant.
This post is about creating a content strategy, so rather than make it any longer, take a look at the linked article for more information. Consumers tend to have positive feelings towards a brand after reading its content, regardless of the industry it belongs to. Also, include customer stories.
Almost all consumers say that user-generated content has an impact on their purchase decisions.
15. Use Video Marketing to Help and Sell
In 2020, 96% of consumers increased their video consumption. The majority of people surveyed said they would like to see more video content from brands. In 2022, it is estimated that people will spend 100 minutes per day watching videos.
Ninety-five percent of viewers retain a message when they see it in a video, compared to only ten percent when they read it in the text. This means that videos must be part of your marketing strategy for your financial services company.
- Set your goals
- Create videos that build trust
- Educate consumers
- Use UGC and reviews
- Personalize your videos
Win Customers With the Best Marketing Strategy
The best marketing strategy for financial services comes from a customer-centric approach. This means that the customer is always the focus, whether they are coming to you through an app, website, phone call, or face-to-face.
You need to understand what consumers care about and how you can help them. Keep them happy by delivering on your promise.