Financial services marketing is the action or business of promoting financial services to attract more customers and reinforce relationships with existing ones. The financial industry has always played a major role in the global economy. And in the past, various financial companies had almost no reason to worry about the competition because they offered to the same customers more or less the same services. The new players integrate technology into traditional financial services, changing the rules of the game by redefining product and service delivery. And nowadays costumers want only financial services that speak directly to their needs in a way that they are ready to hear.
Here is the list of some popular financial services marketing practices:
1. Leverage influencers. Social media influencers can be extremely effective when it comes to targeting younger people, who are generally more inclined to listen to their peers than brands. Only 24 percent of millennials claim to have a basic understanding of financial concepts, and most would much rather take financial advice from someone they follow on YouTube, Twitter, or Instagram than a large financial institution.
2. Build trust. All consumers, particularly millennials, want to do business with companies they see as trustworthy. To achieve such status financial companies need to learn how to market financial services to build social proof and promote values that speak directly to their customers. Younger generations want companies to bring their words into action, and they want businesses to listen to their input and make good use of it.
3. Partner with financial services marketing agency. In fact most financial companies are not that good at financial services marketing. Not only are they not aware of the latest fintech marketing trends, such as financial apps and influencer marketing, but they often don’t even measure ROI at all. That is why partnership with the marketing agency is very important for them.
You can find information about more financial marketing services here.