How Digital Marketing is Restyling the Financial Services

Technology is moving very rapidly taking wild steps in the divergence of the Financial Services industry which has been measured in updating their marketing in the consumer’s changing behavior.

Explore the key marketing trends with the subsequent opportunities for the marketers.

Social media

Social Media is now an important part of daily life, however, Financial Services firms have been slow to accept social media marketing, fearing reputation risk and seeing a lack of value in social marketing. Overlooking the power of online presence in a world where a complaint from an annoyed customer can go viral in less than 24 hours, social media has to be taken seriously. Promotions are the most attractive way to invite customers to follow & to engage them through an online presence.

Email

Neglecting an email is becoming a major role as the customers continue to move to online methods of managing accounts, email has become a key channel for the communication. In the Financial Services industry, however, email is still mainly used for operational alerts rather than marketing. Compliance concerns and fear of attacking customers has kept firms away from using email for marketing. As Financial Services industry has a poor record for email marketing, due to the poor division of it. They collect data from marketing analytics to, target and personalize emails better. This will increase engagement rates significantly.

Marketing Analytics

The Financial Service industry was an early adopter of technology that brought customer data together. However, firms have struggled to cope with the recent explosion of data from website behavior, social media interactions, and other digital channels. Customers want their Financial Institutions to be positive and provide personalized attention.  Most firms already have the data, but they struggle to harness it to deliver the right offering to the right customer at the right time. They combine CRM data with marketing analytics and then use automation to systematically encourage the customers. As they use analytics to refine targeting for online advertising to increase the ROI.

Online Video is Exploding

YouTube is the best search engine for marketing. Online Video is very effective as most of the consumers are likely to investigate a product after seeing an online video. Online Video has been gaining popularity with Financial Services companies. Videos boost a firm’s inbound and social marketing success as it is very effective and very searchable with the right video content, firms can then leverage their marketing analytics to target the right customers with the right video message.