Marketing in Finance
Updated: May 13, 2021
Financial services marketing refers to the use of marketing strategies employed in the financial services sector to increase reputation, acquire new customers or retain existing ones.
It's definitely difficult to stand out of the crowd. Every industry has a share of particular difficulties but the most rewarding for us are the financial institutions, DeFi projects, And Fintech companies. This industry can benefit from every social media channel, every marketing avenue as long as it represents its values to the right people.
Here we'll describe some Financial marketing strategies that you can use before hiring us (Shameless plug) so we can work with you and your team to skyrocket your marketing, organic and payed.
We know that each project, institution os company is in a different position and with a wide array of resources, so take everything you read here and adapt it to your needs.
Build trust with your audience
If your reading this, odds are you are involved in finance and you want more traffic, recognition, clients or investments. However the funnel looks in your business, trust is a huge driving force.
Think about it, people usually don't even trust family with their hard earned cash, never mind a website or brand they have never heard of.
Overcome trust issues:
Why should I, the customer, trust you with my shekels?
And why you over the competition?
Over 90% of Millennials don’t trust banks at all, they love crypto though :)
In Finance, you need to build trust
Branding and Marketing: Define and refine your core values! Not just in writing, no, that's not enough anymore. Show the audience your values, let everybody see that what you say and write goes with action. Everybody loves when the story and the facts fit, it feels right and creates Trust.
Be where your audience is: Fast website, mobile responsive or mobile first if the analytics agree! Make it easy for everybody to learn what you do, how you do it and to get in touch with you. Invest in a good and versatile website.
Social proof: Have you launched? Can you get a TikTok account and show how it works? Can you show haw people love the X you're doing? Content. Good content is the best investment you can make.
Create a connection
Your branding, messaging and tone must be relatable to your target audience. Whether you’re targeting a niche or a much larger market segment, it’s important to relate to your audience and use the media outlets and social media channels that they’re likely to be on.
Its imperative that you create marketing campaigns that are very specific to the target audience they’re going after. This is the fastest way to attract potential customers.
There are two main strategies for relating to your beloved audience: speak their language & understand what they need to hear. Cater your marketing message towards those needs.
For example. If you look at the statistics, you can easily understand what drives gen Z and millennials, and what's the marketing angle you should take to relate to them. One word: woke.
Maybe Influence with influencers
Everybody knows about social media influencers. Financial marketing companies should pay even closer attention to influencers than perhaps marketers in any other industry because followers TRUST the influencer.
Use them not only to gain trust but to translate your product or services from boring financial, interest, cards and accounts stuff to however the influencer speaks to his or her crowd.
Its hard to understand but most people do not understand inflation, compounding interests, crypto or even how taxes work, so influencers can bridge that gap and help you explain to your audience what your offering.
TikTok, Instagram or YouTube celebrities. Go through them and get in touch with the ones you feel might be a good fit. Get to know them and give them creative liberty if you want them to really embrace your product or service.
Finance and Education go together
Invest in Content. Content is a great way to generate traffic to your site to not only create awareness, but create potential conversions too. Teaching your audience is so important to build a relationship with them in the finance industry.
Search for links between what you offer and the content that might bring people in the door. Use keyword planners, Google suggest or any other tool to find out what people are looking for that relates to you and invest in content. Text, Audio, Video, The more the merrier, but take your time and use each piece of content well.
This strategy gets your foot in the door with potential customers and lets them know that you’re not only a knowledgeable source, but a pro site and company.
Basically, content strategy can be used by finance companies to get new customers and engage with existing ones. In an age of mistrust, good content helps you engage with new and existing users.
Consistent brand message is key
Say what you mean! The financial industry is riddled with jargon that no one outside of the industry can relate to. And always say it the same way.
It isn't easy turning complex financial data and examples into digestible information we as lay people can consume, understand, engage and act on. That's why its so powerful and useful when done correctly.
If you’re in charge of marketing in the finance space, before you try to attract new customers, make sure all your brand copy and marketing workflows are optimized.
As a marketers we need to answer our audience questions right there, on our landing page, social media channels, YouTube videos, anywhere we are.
Optimize your user experience (UX)
So you’ve managed to make customer trust you and your services, build a relationship and make a conversion. Beautiful.
Now we need to keep customers happy and make their experience as painless as possible.
Simplicity always stands as the most effective way to optimize user experience, People want answers fast, no 5 second loading time, no weird popups, just an easy and effective flow that makes the users feel comfortable within your domain.
User experience is more than just design. Progressive financial institutions are adopting a casual and conversational tone in their content and moving away from the stiff, authoritative tone of the old-school marketers in finance.
The definition of user experience has changed dramatically across all industries. And financial companies are no exception to the rule.
Get the right partner for Financial Marketing
On this blog post we tried to go over the very basics of a Financial Marketing Strategy. But if your planning to use Social Media Marketing or Search Engine Optimization or Pay per click advertising in a consistent and high level way, consider having a partner that can guide you and work with your team in achieving the goals.
Creating and managing a Marketing Strategy, payed or organic, should include conversion tracking, constant optimization, correct attribution and a dedicated people that will walks with you all the way.
At BausLabs we proud ourselves in becoming part of your team, by understanding your business, your team, structure and objectives, we can provide the best services that will get you where you want to go from Barcelona, Tel Aviv and Zurich to the world.
Get in touch! We'll audit your marketing and advice you for free on a zoom call.
Have a great day,