With industries worldwide relying on digital marketing avenues, it is presumptuous to assume that Financial Services would be left behind. No traditional marketing mode can attain the kind of consumer reach, credible image-building, and positive reputation that digital platforms are capable of.
The right bank digital marketing services can help banks as well as NBFCs attain steadfast growth by accurately targeting and engaging online users. It also enables traditional, legacy-driven banks to reinvent their image to a more efficient, approachable, and customer-friendly service providers.
Analyzing the Scope of Bank Digital Marketing Services
- Higher search engine rankings and social media visibility enable quick and effective market penetration for banks.
- The best online marketing service provider will always align content marketing with the online research requirements and purchase cycle of the target audience. This enables Financial Services to educate and engage prospects simultaneously.
- Facilitated by the best digital marketing company, the inherent disconnect/wariness of the target audience due to lack of knowledge or misinformation is suitably addressed.
- Ranking higher for the right keywords will direct higher organic traffic to the website/app, thus boosting lead generation.
- Precision-driven targeting based on age, location, gender, occupation, income range, and search preferences is enabled with the right digital tools.
- Overall digital marketing involves a low investment with a high ROI. It also provides scope for higher creativity.
Important Digital Marketing Strategies to Boost Online Engagement
Prioritize the ICP across all Digital Platforms
Whether it is for the banking website, the mobile banking app, or the social media handles, the entire content strategy has to be based on a thorough study of the Ideal Customer Profile of the bank. Identifying and understanding the age groups, geographical locations, income brackets, search preferences, purchase behavior, motivations, requirements, and constraints is the key to framing customized marketing strategies to engage them.
Focus on Mobile Marketing and Geotargeting
To appeal to the prime consumer base that is increasingly accessing banking services on smartphones, a responsive design or mobile optimization is necessary for the bank’s official website. The site should also have localized landing pages to categorically appeal to customers in specific cities or states.
Disseminating Crucial Financial Information with Engaging Videos
Compared to other industries, the Financial Sector is often faced with marketing constraints due to the complex nature of its services, low touchpoints, rampant consumer hesitation, and misinformation. Innovative video marketing is a sure-shot way of simultaneously engaging and educating users. The low investment, high scalability, and high impact make it the best content marketing strategy for banks.
Virtual Assistants for Higher Conversions
A crucial aspect of online engagement is being available for customers (as well as potential customers) whenever they want. Hiring employees to provide this facility is not financially viable. AI-driven chatbots enable round-the-clock chat support on the website. A well-developed chatbot equipped to handle a wide range of queries, concerns, complaints, and feedback is a must for banks today to keep website visitors engaged 24×7.
Free Tools, Gated Content, Games, and More
Banking services are always perceived as a mundane necessity. Digital marketing is spearheading major changes in this realm today. Financial marketers are innovating by providing website visitors, mobile app users, and social media followers with free tools and resources like investment calculators, money-saving hacks, fun quizzes, and video upload competitions.
Incentivizing Users for Engagement
Rewarding users to share their financial success stories related to the bank’s services can be a huge source of customer engagement. For instance, a housewife who availed a loan and started a successful food business, or a student who availed a financial loan to study abroad and is now pursuing a lucrative career.
Partnering with Successful, Non-Financial Businesses
Banking start-ups often struggle to engage customers due to a lack of trust. Collaborating with successful businesses in other sectors can draw this much-required attention. Top examples include liaising with a real estate company to provide home loans, an educational institute to promote financial loans, and so on.
In the finance sector known for its intense competition and low differentiation, devising the right marketing mix can be tricky. Collaborating with an expert team can help banks and NBFCs establish an indelible connection with their target audience. A well-planned digital marketing campaign for banks aims at inculcating positive online visibility, trust-building, and brand recognition. From banks and insurance agencies to investment firms, Fintech companies, POS service providers, and so on, digital marketing has far-reaching benefits for all types of financial services providers. Compared to traditional advertising, digital platforms require a far lower investment, yield higher ROI, and usher in transformational growth.