It won’t be wrong to say that the 21st century technological revolution has impacted all walks of life, business included. Every sector of business, trade and commerce, has witnessed the digital revolution positively transforming their mode and magnitude of doing business. However, if there is one industry that is still hesitant to fully reciprocate to the digital wave, it is the financial industry.
It is true that many of the financial services have now shifted to online portals. However, it is the financial digital marketing that is still lagging behind. Since financial markets rely a lot on customer growth and acquisition, what better than digital marketing to build a loyal customer base? It is a newer, better way to grow your financial service into a more promising and profiteering business.
Since financial institutions often follow a rigid structure, it is difficult to adapt and keep up with the changing world. They normally have a set way of doing things. However, if one employs a good financial services marketing agency, it is possible to incorporate the dynamic world of bank digital marketing into the rigid structure of financial services. It comes in handy mainly when financial companies thrive on customer retentions and referrals.
In the end, it is the classic Darwinian concept of survival of the fittest. Those who adapt with the changing world succeed and are ahead in the game. Those who refuse to keep up with the trends fade off and fall back in the league.
To illustrate just how important it is to be in the game, we have laid down some points that highlight how digital marketing in the financial industry.
Potential Customers: You can find many more customers online than on field! Through online discussions in social media forums, you can understand prospective customers who’d be open to your services and then target them accordingly.
Customer Feedback: 80% of the customers who move from one financial service to another do so because their issue was not resolved in the first go by the service. This goes on to show just how important customer feedback can be to the company for customer retention and loyalty. Customer feedback not only gives you an overview of how you are performing as a company and what your customers think, but it also gives you a chance to interact with them and engage them. In the digital world, customer engagement is the surest way to get more sales and business growth!
Brand Awareness and Thought Leadership: This is where a good content marketing strategy comes into the picture. When marketers employ content strategies in financial world, 71% of their focus is on creating brand awareness and thought leadership- the viewer would want to return to their website and service for all they need. Later come goals such as customer loyalty and sales. Establishing yourself as a force to reckon with in the financial world online has made recurring benefits, as explained earlier.
Social Media Marketing for the financial industry: There has been an immense growth in social media marketing companies for all the right reasons. With over a billion people using social media worldwide, just imagine the amount of prospects available! Digital marketing agencies can help you devise integrated social media strategies to expand your consumer base, get loyal customer, bring about customer engagement, and improve lead generation.
As you must have realized, digital marketing in finance is not just about employing a website marketing company to get some online presence. You have got to take that additional step and make sure you hire an agency that comes up with personalized and holistic digital marketing solutions for your financial agency, since a digital presence is so important in today’s market.
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