Technology is changing how today’s financial institutions are engaging customers. Some of this is obvious. Some of this isn’t. Here are 4 things to consider about marketing your financial services in 2014:
1. Think Mobile
With mobile tablets starting to outsell desktop computers, your bank, credit union or other financial business needs to think mobile. More and more fund transfers, bill payments and other bank transactions are now being done by smart phone or tablet. All the more reason for your financial institution to invest in a responsively designed website. Responsive design codes your website to seamlessly adjust to whatever device your customer is viewing it on. No more tiny type, no more weird navigation issues. Another place to invest is in a mobile-friendly email marketing campaign. Here again, financial businesses need to update their protocol to make sure their eblasts are responsive. Studies indicate 71% of respondents ages 18-60+ have signed up with their bank for mobile banking. If the user experience that your financial institution delivers is sub par, your customer might just go across the street to your competition. So be vigilant. Make your mobile experience everything it can be.
2. Think Content Marketing
Content marketing or inbound marketing as it is sometimes called, is an effective means of engaging financial customers. Consider such avenues as affiliate marketing, direct mail, display advertising, email marketing, behavioral retargeting and search engine marketing. A pay-per-click campaign with a results-oriented landing page is one place you can start.
3. Think Big Data
These days, consumer data is there for the taking. Financial marketers need to invest more time in distilling, storing, transferring and analyzing this data to better engage their customers.
Such collection and data refinement requires automated systems and tools, but it also requires the human touch. Try to think like a consumer. Relate to customers on the human level. For instance, if you can use data to measure when a consumer is nearing their credit limit, you can be there with marketing for an extended line of credit. By tracking purchases made with this extended credit from your bank or credit union, you can serve up contextual ads and offers for products via email, text messaging or other integrated vehicles. The opportunities are endless.
4. Think Integrated
This is the year when banks and credit union marketers will lean more heavily on digital to reach new prospects, mine existing customer relationships and cement loyalty. But don’t kick traditional media to the curb. Television, outdoor, radio and print advertising continue to pay dividends for today’s financial marketer. The best approach for 2014 continues to be one that surrounds the consumer at every conceivable touch point.
Hope these marketing tips have been helpful. If you need more, just give us a shout at 1-866-642-7559.