Businesses run on reaching their target audience with a relatable vision and mission and desired product or service. For financial companies, this is no different. If the audience isn’t met or the service isn’t of any need, the company will not stand. This is where marketing comes in.
Marketing includes all of a company’s activities taken to promote the buying or selling of a product or service. Likewise, financial services require marketing to reach potential clients and to continually engage current clients. Marketing techniques develop and change with continuous improvement whereas without any forward movement the company will not last.
It is necessary to utilize effective financial services marketing techniques to generate new leads, meet targets and goals, and establish trust with customers. The techniques should be unique and related to the company aligning with its business strategy.
1. Creating a Website That Wows
Every business ought to have a website. It is one of the firsts to creating a strong digital presence and can be of avail as your biggest asset. A website serves various functions including boosting reputation, generating leads, stirring engagement, presenting brand identity, offering information, and more.
There’s more to having a website than having it simply exist. If your company website is not captivating or does not grab attention, it defeats the purpose because no one will stay interested long enough to learn what your company has to offer.
The ideal website is compatible across all devices, has a compelling design, strong functionality, and smooth user experience, the last being highly integral as many consumers weigh user experience when choosing a company for financial services. In addition to this, your financial advisor website should be fast, seamless, mobile-friendly, and secure.
An important note to remember in building your financial services company website is to utilize and optimize SEO. In doing so, you increase your chances of being noticed by search engines and, in turn, potential customers.
2. Producing Video Content
Video is king right now in marketing. This is not only seen across social media but evident in communication and business strategies for companies. Video is popular and will continue to grow through multimedia developments. In a society that is keen on getting information quickly and easily, video is everything.
YouTube is the second largest search engine with users regularly tuning in to learn something new. 239 million globally watch videos via social media, the internet, or YouTube. Thus, there is a strong likelihood of getting noticed through video. A picture may be worth a thousand words but a minute of video is worth a million.
Currently, a high percentage of financial marketers can attest to video having aided in sales and assisting consumers in understanding their company services. There is a wide range of topics that can be made into short and engaging videos to gain traction with consumers and build a video archive. The best-optimized videos will get in front of your company’s target audience.
Financial services companies should take full advantage of the storytelling power involved in video. When implemented, storytelling through video can entertain, educate and help the audience. Putting information in a creative and interesting way will help produce memorable content that will draw in new customers and separate the company from its competitors.
3. Getting Social
Along with a digital presence, if your company does not have a social media presence, it is already behind the trend. Your company’s target audience is probably using different social media platforms or maybe even all of them. Social media can be a powerful marketing tool. The right strategy will garner exponential returns in this arena.
Social media presents a great opportunity to reach new customers and educate them on your company’s services. More than 80% of Americans have at least one social media account and may use their accounts several times a day. Financial service companies can create connections and also be cost-effective with organic posts.
Wherever and whenever your target audience is using social media you want to be sure that when you post you share a consistent brand message. Your company should have a clear brand identity with a carefully crafted brand image that can be recognized and related to across platforms.
While social media can gain traction at any time, it is important to keep in mind a social media schedule and content strategy. As your company grows in its social media marketing, it can tailor content toward specific demographics and platforms. For example, TikTok and Instagram will tend to have a younger demographic, unlike Facebook, with posts shared at any time.
4. Secure New Leads with Email Marketing
Email marketing is not dead and can be effective in business marketing strategies. Every day new email accounts are being opened. The vast majority of American adults have an email account. Specifically for financial services, email marketing has a significant return on investment with generation and closing of leads.
In addition to this, email marketing presents new opportunities for direct business-to-business marketing. Business lists can be beneficial in accumulating new leads by sending emails to businesses that are only in need of financial services. This makes for a qualitative and precise marketing strategy.
5. Building a Solid Reputation, Plus Word of Mouth
A good reputation will go a long way. Reaching out to customers and using and giving referrals is an old but tried and true method. Your company can reach out to existing and potential customers to create awareness, educate and fulfill needs.
This method is effective because trust is at the cornerstone of any business. People work with other people and companies that they trust. This leads to customer loyalty and solidifies your company’s consumer base and advocates.
Marketing Your Financial Business
Every company wants to leave a mark, distinguish themselves from their competitor and maintain a strong customer base. Marketing will help your financial service stand out from the pool and stay connected with customers.
Money is a hard business but by employing one or more of the marketing techniques that work for your company, it will be well on its way to success.