3 Challenges Your Financial Company Has to Face
— AS WELL AS WHY INTEGRATED MARKETING CAN HELP FIX THEM
Risk is not unusual in the financial sector. So why are you sticking to the same disjointed, out-of-date marketing approach from five, ten, or fifteen years ago just to be safe?
The special issues facing the banking sector call for some inventive solutions. Your marketing approach must be in line with your company’s objectives if you want to remain competitive in the face of rising customer expectations, governmental scrutiny, and competition from tech companies.
Here are three urgent issues that your financial organization is facing, and how integrating your marketing strategy can address them:
Are You Prepared for Millennials, Mobile Devices, and Your Marketing Strategy?
I hardly ever visit banks. Instead, I utilize banking applications, like the majority of millennials, to do things like check my account balance, put $5 into savings, and send money to my roommates when we share pizza on Friday nights.
Some may think of me as simply another twenty-something managing the complexities of personal finance. To be competitive, financial marketers must be aware of a bigger trend that is illustrated by my online and mobile banking behaviors.
Integrate Yourself Across All Platforms.
The Fed reports that 67% of millennials use mobile banking, and more people than ever are utilizing personal finance applications and websites. A marketing approach that is exclusively optimized for desktops won’t cut it anymore because your clients are actively using their smartphones for everything from budgeting to investing.
However, outside of banking, mobile usage is increasing, accounting for 52.7% of all internet traffic in 2016. Given that we are in the era of smartphone, financial marketers must be careful about how their material is shown on mobile devices.
Integrating not only guarantees consistency in branding and voice but also produces fantastic user experiences across iOS, Android, and other platforms. This contributes to providing value to your clients and keeps your financial organization one step ahead of the competition.
Tap Millennials into Your Strategy Integration.
Only 27% of millennials, according to a study published by the George Washington University School of Business, seek expert financial advice on investing and saving. Furthermore, even though 31% of all millennials have multiple sources of long-term debt that are still unpaid, only 12% of them reportedly sought professional debt management help.
The financial industry has historically mistreated millennials, despite the fact that they endure more severe economic hardships than Baby Boomers and Gen Xers (shout out to college debt!). This means that there is a huge opportunity for financial institutions to serve millennials, and you may reach this demographic by integrating your marketing campaign across platforms and devices.
When I remark that millennials are a generation that is “literally glued to our smartphones,” I believe I can speak for all of them. Whether we’re using our phones, tablets, or PCs, becoming connected with customer-focused messaging that resonates across platforms will help attract and retain customers in our demographic.
Consistent Marketing Messages Creation
Because modern consumers are always connected to technology, they demand more than just a smooth brand experience. They count on it.
In light of this, your business should think about a range of marketing strategies, including social media advertising, inbound content marketing, and search engine optimization.
By integrating your marketing strategy, you can make sure that your institution’s goals are reflected in your messaging and branding across all platforms and channels. In the intensely competitive environment of the financial sector, you may reach more individuals with a single, consistent message.
By working with a fully integrated ad agency like SimpSocial, you can be sure that your prospects are receiving a single, concise message. Additionally, you don’t have to worry about managing several vendors, which can result in fragmentation, because everything from PPC to creative is handled in-house. Working with a single integrated agency also guarantees that everyone is focused on your company’s objectives rather than vying for the largest share of your marketing budget.
Kick-Start Step for SimpSocial: What sets your financial institution apart from the competition? What do customers appreciate about your business? When establishing an integrated marketing strategy, ask yourself these queries. Create compelling messaging that connects with your audience using the answers you come up with.
Making Interesting Financial Content
Your job as a financial marketer is to create a fresh message that connects across all marketing channels in a world where banks consistently produce the same boring information.
You cannot copy what others are doing and expect to stand out. Instead, you need a comprehensive plan that combines interesting, instructive content to humanize your business.
Use Integrated Marketing to Create Memorable Stories.
Forget for a moment about numbers and statistics. The perception that finance is dull and difficult to understand can be dispelled by using an integrated narrative strategy.
People adore tales. A compelling narrative helps humanize your business across all of your channels, including your blog, social media, and newsletter, especially if your industry has a reputation for being dry. However, you must first establish messaging consistency for each channel. Following that, use content to inform rather than pitch your audience.
Be NerdWallet-like.
NerdWallet, a personal finance website, excels at educating its audience, particularly on its blog, which employs informative, interesting content to instruct readers about everything from credit cards to student loans.
NerdWallet’s brand is consistent across all channels, including Instagram and Twitter, in addition to having excellent content. This expands the audience for NerdWallet and demonstrates that financial content doesn’t have to be dry. You can establish yourself as a thought leader in the finance sector and create a brand that clients can trust by using a similar comprehensive strategy.
Make It Rain Now by Integrating Right Away!
Partnering with an integrated agency is an investment your financial institution can rely on in a sector where taking risks is the norm.
SimpSocial is a fully integrated company that combines cutting-edge tactics and technological innovations to support organizations in the financial sector in overcoming obstacles. As your strategic partner, SimpSocial will make sure your marketing initiatives are in line with your company’s goals in order to help you reach your target market and draw in new clients.
Would you like to integrate with SimpSocial? Let’s have a conversation.
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