Digital marketing for financial companies is essential to attract new clients and compete with digital-savvy start ups whose slick online customer experience appeals to younger people.
The traditional financial sector lags behind fast paced changes in the digital world. Many companies miss opportunities for client acquisition and retention. When it comes to digital marketing for financial companies, there are fundamental to be followed
The financial industry is heavily regulated with rigid organizational structures making it slow to adapt to digital advances. The 2017 Digital Trends in Financial Services and Insurance report* found that only 9% of financial services and insurance organisations claim to be digital-first.
New financial brands put digital marketing at the top of their agenda. Established financial companies must now take digital marketing seriously. They must:
Once a financial organization decides to up its game in the world of digital marketing, it needs well-defined digital marketing strategies. There’s no point in having a Twitter account or posting videos on YouTube and hoping for the best. A strategy must address these areas:
Using digital marketing specialists to define a marketing strategy, the business is clear about what needs to be done, and allocates the budget required to implement it.
It’s no longer just about the products you sell, client experience is now just as important. Customers have higher expectations than ever before. Potential new clients expect:
Existing clients interact with a financial website to check relevant information, for example checking performance of their portfolio or the stock markets. They do not want delays or need to speak to someone. They’ll expect this on their smartphones as well as on their desktops. A financial company website must have functionality that allows customers to achieve what they want, when they want.
Customer service must be exceptional. If a customer raises an issue, it must be promptly and efficiently resolved. Customers need reassurance that they are using the best financial services company for their needs. Otherwise they will switch provider without a second thought.
Financial services companies must monitor customer reviews online at Google Reviews, Trust Pilot, Glassdoor and others. If there’s a negative review, the company must take immediate action as potential clients are strongly influenced by online reviews:
When undertaking digital marketing for financial companies, it’s essential to understand its effectiveness. Gather data regularly about:
This data can then be used to inform future decisions and define strategy adjustments.
Digital marketing for financial companies will produce rewards when carried out to a clearly defined strategy created by specialists. Digital marketing is an essential requirement in today’s tech-savvy world. So if you’re a financial organization, embrace digital marketing and ensure you implement your digital marketing strategy for maximum effect as shown above.
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