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7 Marketing Trends For Financial Services in 2020

There is no denying – technology is changing the world around us. This makes it quite logical that we also saw financial institutions adapting to innovative technology and the use of various digital platforms to increase customer optimization. All financial institutions should be ready to focus on utilizing the data they gather in order to improve the experiences their clients have.

However, if you did some digging online, you might be completely overwhelmed by all of the options you have, which is why you are probably wondering – what are some of the best marketing trends that I can utilize? Luckily, those trends are exactly what we’ll discuss in this article today. Let’s take a closer look at the top 7 marketing trends you can use for financial services:

1. Branches Are Here to Stay

Source: kowc2011.org

Since the beginning of the global outbreak of the Coronavirus, a lot of financial institutions saw a decline in in-person visits to their branches. However, several major organizations are trying to bring them back, mostly by creating an environment that has more digital services such as interactive screens, as well as digital financial education programs.

Branches offer different opportunities for you to engage with your clients, and more importantly, it allows a completely customized financial education. This means that you should focus on investing in employee training, as well as redesigning your branch with innovative technology that will improve the experiences of your clients.

2. Digital = What You Must Focus on

Although you’ll change the interior of your branches and add more innovative technology that will probably attract new clients, you must ensure that you focus on engaging your clients through various social media platforms. Why? Well, people can easily forget their jackets at home, but, it is less possible that they forget their smartphone.

This is why you must focus on being present on social media platforms such as Twitter, Facebook, and Instagram. By doing so, you’ll be able to reveal new services to your clients, they’ll be able to easily find you, and more importantly, they’ll be able to communicate with you, which is quite necessary for any business.

3. Use The Data You Gather

Source: pexels.com

All marketers – no matter which industry they work in – have a lot of client information that they can use. From the items, people frequently purchase to their demographics such as age, location, and gender. You could utilize this information for creating detailed and precise strategies that will be meaningful for your targeted audience.

This won’t only attract new customers, but, it will help you with improving their experiences, which in return can cause your revenue to grow. All of this means that you won’t need to utilize complex programs or devices in order to create a meaningful advertising campaign.

4. The Content You Generate Will Always Be The Most Important Thing

Would you buy something from someone if the picture is low-quality or if the description does not explain what it is or how you can actually use it? Probably not. This is why you must create engaging and compelling content for your website, as well as social media accounts.

In fact, there are various articles such as this guide by ComboApp financial services marketing agency that can help you comprehend the importance of high-quality content. This is why you must ensure that you check such tutorials and guides out, especially since it can help you generate better content.

5. Video Advertising is Also a Possibility

Source: brandknewmag.com

Brands are always looking for new ways to communicate with the audience and improve their experience. And, one of the things that you can try is to share high-quality videos that you can benefit from. After all, not all people understand financial terms, and by implementing videos, there are various things that you can help them with.

For starters, they can easily comprehend your entire brand and the services you offer – which is quite helpful for people that are first-time users. Second, you’ll be taking advantage of on-demand services, and lastly, implementing a video on your landing page can help you boost conversions by more than 75%!

Additionally, you can choose to send your clients some useful tutorials and guides that will help them with their finances, you can create beneficial “how-to” video guides that will help investors, and you can also explain how some of your services work. All of this will be beneficial for both your and the clients you have.

6. You Could Work With Influencers

This is something that might be extremely weird – how can influencers help me with advertising my financial organization? Well, companies such as MasterCard are already doing this and it is paying off. In fact, working with them on your financial service’s advertising is no different than if you would be advertising a clothing brand.

What is the most beneficial thing about working with influencers? It is the fact that you’ll be able to connect with younger generations and expand your reach to other audiences as well. For you, this will mean higher revenue and more customers, which means that your organization will thrive.

7. Chatbots Are Crucial

Source: industrywired.com

You are a financial institution after all, which means that you’ll need to be available whenever your client needs information about their money. This is where chatbots come in. For starters, you’ll be available 24/7, which is quite important for individuals looking for specific answers to their questions.

Second, doing this will allow the users to feel more engaged with your brand and they’ll definitely feel more valued since you’ll be providing an optimized experience for them. Hence, you should definitely opt for implementing a chatbot for your website’s support center.

Conclusion

As you were able to read, there is a wide range of marketing strategies that you can utilize for advertising various financial services. Not only will the aforementioned trends help you with improving the experiences of your clients, but, it will also help you with generating higher revenue.

So, now that you are aware of all the strategies you can use, you might not want to lose any more time – after all, in the world of finance, time does equal money. Instead, you should go back to the beginning of this article and determine which trends might be most suitable for your organization.

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