Top Digital Marketing Strategies for Financial Brands

Financial Services brands, no matter what the size or maturity, have the ambition to extend their reach, expand into new markets or find new customer segments. With the ever-changing landscape in this sector, the importance of deploying smart digital marketing strategies to achieve this growth has never been higher.

In this article, we will explore the key strategies Financial Services brands should have in place to scale both effectively and affordably.

First though, it is important to recognise that Financial Services brands do have to contend with specific challenges that can impact the deployment of digital marketing campaigns and experiences. Being aware of them and how to navigate them is also key to building the right strategies for success.

These are five specific challenges that Financial Services companies face:

Building trust
Regulatory constraints
Data management and personalisation
Adapting to customers changing lifestyles
Limited differentiation

1. Building trust

For many years now, there has been a general scepticism of financial institutions with trust hitting all time lows. Fortunately, according to the Edelman Barometer, public trust is just starting to creep back. However, this is slow and whilst there are many very worthwhile initiatives from Financial Services brands to ‘do the right thing’ by society and also by their customers, people are just not ready to believe it yet. They are stuck with the perception of Financial Services hiding behind small print or constructing offers only for their own benefit. Subsequently, convincing people of an initiative or new product offer can face a lot of resistance and messaging needs to be handled well.

communications

Continuing to execute strong communications that demonstrate brands are improving the financial well-being of individuals and society needs to be a core part of an overall strategy.

creativity

It is important to know and adhere to these regulations but be determined to excel and look for differentiation within them. It is possible that with the right mindset, creativity can be sharpened, not dulled with a narrowing of possibilities.

3. Data management and personalisation

While personalisation is both crucial and expected, many financial institutions struggle with:

Collecting and analysing customer data efficiently.
Implementing systems to capture and customer data and demographics.
Leveraging big data and AI to provide real-time personalised offers.

This flies in the face of younger consumer segments demanding both personalised experiences and strong data protection.

Financial marketers

Financial marketers must find ways to deliver individualised services while ensuring responsible use of customer information and providing advanced data protection.

4. Adapting to customers changing lifestyles

For many years banking and insurance was dominated by physical environments and it was the Financial Services institutions that dictated the when, what, who of the process. Now, customers, many of whom have fragmented employment patterns and high expectations on digital servicing, expect different. The industry has had to catch up with flexibility consumers now demand and in particular the growth of a mobile user base. Furthermore, different customer segments favour different communication channels.

This also extends into content creation. Financial Services brands must move towards content that appeals to different segments, which typically means:

Shorter form content
Multiple formats
Video-based messaging
Content aligned with individualised interests

This is an important challenge for products and services that often need explanation and to carry regulatory messaging too.

Financial Services

Financial Services brands need to adapt their strategies to reach these audiences effectively through relevant social media, mobile apps, and other digital platforms.

5. Limited differentiation

Financial services brands often struggle to differentiate their products in a crowded market.

Taking all this into account, here are 7 essential digital strategies to scale your Financial Services brand

Ensure you maximise visibility.
Reach target customers efficiently.
Build trust through valuable content.
Engaging target customers via social media.
Build credibility through influencers.
Nurturing ‘warm leads’ to increase conversion.
Scale up efficiently through Marketing Automation.

Let’s dive into these in more detail:

Financial Services has a specific set of challenges that companies need to both understand and navigate. These may feel like constraints but with the right planning and digital marketing strategies, brands can create visibility, relevance and deliver impactful, creative campaigns.

digital marketing

The challenge lies in setting the brand apart through superior experiences and digital marketing strategies, utilising expertise and technology to deliver customised and convenient services.

1. Ensure you maximise your brand’s visibility to new customers through Search Engine Optimisation (SEO)

Developing the right SEO strategy is crucial for increasing brand visibility organically and attracting high-quality traffic. This is a valuable foundation for any brand. This strategy will include:

Optimising your Financial Services brand website content for relevant financial keywords to increase relevance to searches.
Creating informative, high-quality content that addresses topics customers are searching for.
Ensuring the various technical SEO elements are in place, such as site speed and mobile-friendliness.
Building authoritative backlinks from other reputable financial websites

This is an ongoing work and it can take time to rank higher, so the sooner this strategy is finalised. Getting expert help here can really help accelerate your results.

Want to know more: Read AccuraCast’s recent article on understanding Google’s algorithims here

2. Reach target customers efficiently through Paid Media Advertising

Beyond the important organic efforts, strategic use of paid advertising can help reach potential customers quickly and efficiently. This can include:

Implementing targeted pay-per-click (PPC) campaigns on key search terms with relevant supporting messaging.
Using display advertising on relevant financial websites
Leveraging social media platforms for precise audience targeting
Optimising media spend by focusing on high-converting keywords and audiences

Want to know more: Read AccuraCast’s article on 7 Incredibly Useful Stats You Can Find In Google Ads

3. Increase trust via valuable content

Producing valuable, engaging content is essential for building trust and credibility in the financial sector. This includes developing a content strategy tailored to your target audience’s needs and interests. Here are three considerations:

Create and test a variety of content formats, perhaps including blog posts, whitepapers, and videos
Focus on educational content that helps customers make informed financial decisions
Leverage thought leadership pieces to establish industry expertise and stand out versus the competition. It is important to also balance out teaching and storytelling here so that the audience is engaged as well as educated.

4. Engaging target customers via Social Media Marketing

Engaging with customers on social platforms can also help build brand awareness and trust. Here are some proven elements to help you succeed:

Develop a consistent brand tone of voice across social media channels to ensure you become familiar and trusted even in multiple different formats.
Share valuable financial insights and tips regularly to gain engagement and following.
Be proactive. Engage with followers through comments and direct messages
Use social listening tools to monitor brand mentions and industry trends to obtain learnings to optimise your performance and to trigger new, relevant campaign ideas.

social media marketing services

Want to know more: Read about AccuraCast’s social media marketing services specifically designed for Financial Services brands.

5. Build credibility through Influencer Partnerships

Collaborating with expert financial services influencers can also expand your reach and credibility. Some key element to keep in mind are:

Identify and partner with trusted financial experts or thought leaders
Co-create content with these experts that provides value to your target audience
Leverage influencers’ platforms to reach new potential customers
Ensure partnerships align with regulatory compliance requirements

Letting someone else talk for your brand will be a big step but if done right it has the ability to be highly relevant and tap into lifestyles not only products, thereby building a long-term relationship.

6. Nurturing ‘warm leads’ via email marketing Email Marketing

Once you have done the work of attracting potential clients and got them into the sales funnel, maintaining customer relationships with prospects through email can drive higher conversions. Here are some actions to consider:

Segmenting your email list based on customer preferences and behaviours
Personalising email content to provide relevant financial information to that segment.
Implementing automated email sequences for onboarding and retention to ensure benefits are reminded in a timely fashion.

Want to know more: Read AccuraCast’s 5 evergreen tips for getting Finance Leads from your Website.

7. Scale through Marketing Automation

Leveraging marketing automation tools can help scale your efforts efficiently. You should look at the following:

Implementing lead scoring to prioritise high-potential prospects
Creating personalised customer journeys based on user behaviour
Automating repetitive marketing tasks to free up resources
Using data analytics to continually refine and optimise campaigns

These are just a few of the digital marketing activities Financial Services brands should be focusing on to drive their growth. Each one requires dedicated resources and knowledge to ensure it can be accelerated to build competitive advantage and increase market share.

There is plenty to navigate and identifying the right agency partner to bring additional expertise and experience to maximise your scaling potential is certainly well worth considering.

By implementing these digital marketing strategies, financial services brands can effectively scale their online presence, attract new customers, and build long-term relationships in an increasingly competitive landscape.

Want to learn more? Contact us to chat with one of our financial services marketing experts.

About the Author

Paul Bennett

Paul is CMO of the Financial Services practice at AccuraCast. During a 25 year career at AXA, as Global Brand Director, he undertook a complete transformation of the brand, taking it from an institutional brand to a top 3 global Financial Services brand. He then oversaw the rapid European growth of Huboo. Paul is an expert in brand building and a trained marketer and holds a Chartered Institute of Marketing Diploma.

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