A guest posting by Chatty Garate
Financial companies are facing stiff competition, given the ever-growing number of industry players. On top of that, only a mere 29% of consumers say they trust financial services. This highlights the need for your firm to distinguish itself, gain people’s confidence, and assert its position as the top choice. One way to do this is by establishing a digital marketing strategy.
In this article, we’ll explore seven strategies you can use to stand out and succeed, whether your specialization lies in investments, advisory, or other facets of the financial sector.
7 Digital marketing strategies for the finance industry
Here are seven digital marketing strategies you can leverage for your financial services company:
1. Search engine optimization (SEO)
Most people don’t go beyond the first search engine results page (SERP). So if your website doesn’t show up on page one, your chances of being discovered go down drastically.
To increase your site’s ranking on search engines such as Google, turn your attention to SEO. This can include using the correct keywords, creating relevant content, and building backlinks, among many other practices. All of these can result in increased site traffic, and in turn, more leads.
2. Social media marketing
It would be a mistake not to be on social media, as several surveys have shown that it can impact consumer behavior. For instance, Sprout Social found that 77% of users are more likely to do business with brands they’re familiar with online.
Being active online lets you build your brand’s identity while boosting its visibility. It also gives you the chance to directly engage with customers, allowing you to earn their trust. Plus, social platforms offer insights into your clients’ pain points, enabling you to tailor your services to better address their needs.
In addition to interacting with customers, you can run ads on sites like Facebook. Leveraging ads is a cost-effective strategy that puts your company in front of millions of users at a time.
3. Content marketing
Aim to become the reliable source that clients go to when seeking financial guidance. Consider creating content that’s relevant to your customers, like blog posts on applying for a loan. In that way, you can demystify complex topics, while demonstrating your authority in your field.
From articles to free eBooks, there are various forms of content you can curate. To ensure your content is valuable to your audience, consider outsourcing this task to marketing consultants.
According to McKinsey & Company, 76% of customers feel frustrated when they don’t receive personalized content. This underscores the need to innovate with AI and data and deliver tailored content to each customer.
Leverage the information you’ve collected from clients using different data collection methods such as forms. This can include their demographics, risk tolerance, investment preferences, and much more. Doing so gives you a deeper understanding of each customer’s needs and goals. In that way, you can provide them with user-specific products and solutions, enhancing their experience with your company.
5. Email marketing
While it may be considered an old tactic, email marketing is still a great way to stay connected with customers.
One particularly effective method is the drip campaign—a series of emails triggered by specific customer actions. Not only does this automate your marketing efforts, but it also plays a pivotal role in building trust with your brand. Consistent communication shows your commitment to delivering value, which can improve your customer relationships. This can motivate them to continue doing business with you over your competitors.
Email marketing also keeps customers up-to-date. For instance, you could inform them of exclusive deals via email, or use it as a tool to announce new offers. Emails are also useful for cross-selling products, enhancing the overall Customer Lifetime Value (CLV).
6. Video marketing
Wyzowl’s The State of Video Marketing 2023 report showed that 91% of consumers want to see more video content. Furthermore, Insivia found that viewers retain 95% more of a message when presented in video format. To succeed in today’s financial industry, it’s crucial not to overlook these facts. Curate videos for your audience, focusing on educational content that’s geared toward generating leads.
This isn’t to say that text-based content isn’t needed. Blog posts are still more suitable for weighty topics that need in-depth discussion. However, videos will allow you to simplify complex concepts, making them less intimidating to potential clients.
7. Pay-per-click advertising
Pair your SEO efforts with pay-per-click (PPC) advertising to increase your visibility even more. With PPC, you pay for your site to appear at prime positions on SERPs in the form of advertisements. It’s a faster way of generating site clicks than relying solely on SEO.
Here’s how it works: you bid on keywords, targeting terms that your audience will likely use in their queries. Given that other companies will also be vying for those keywords, the position of your ad will be determined by your bid amount. Naturally, advertisers with higher bids will be given better ad placements.
You only incur costs when a user clicks on your ad—hence the name “pay-per-click” advertising. Its advantage is that it’s highly targeted, allowing you to reach customers who are most likely to be interested in your business.
Regardless of the financial services you offer, it’s crucial to develop a digital marketing strategy. This will allow you to differentiate yourself, win your customers’ trust, and maintain a competitive edge. Use the methods we’ve outlined as a starting point, and create a comprehensive plan that will position you for long-term success.
For more insights on marketing, productivity, and more, make sure to check out our other articles.
A guest posting by Chatty Garate