In an industry that relies so heavily on consumer trust, financial services marketers are always looking for ways to improve customer experience and build stronger customer relationships. Financial services marketing is intricate and competitive, but top corporate marketers can capitalize on the nature of the industry to stand out and transcend the competition.
Personalization, insight and analytics, and omni-channel management certainly aren’t new terms in the financial services marketing sphere. Corporate marketers know that consumers crave a more tailored experience that feels cohesive, but with a hundred or more advisors promoting their brand, they don’t always have the resources to deliver these experiences on a local level.
With 2018 on the horizon, it’s time for financial services marketers to start thinking about how they can streamline their approach and strategize more efficiently. Let’s take a look at the top three marketing trends that will help financial services marketers enhance the customer experience and grow their brands on a local level in 2018.
1. An Even Bigger Focus on Personalization
If we’ve learned anything about marketing over the past several years, it’s that personalization isn’t just nice to have—it’s absolutely essential if you want to drive customer acquisition. Consumers are often disappointed by financial services providers who make them feel like a number as opposed to an individual, so focusing on personalization can really help you stand out.
In 2017, 55% of financial services marketers planned to increase their investment in personalization, and in 2018, we predict this number will grow exponentially. Enterprise-level financial brands with hundreds of advisors can struggle to personalize their campaigns on a local level; however, those who commit to finding a way reap great benefits, including a higher level of customer satisfaction and brand trust.
2. More Data-Driven Decisions
According to Jaywing’s 2017 Data-Driven Marketing Report, 50% of financial services marketers claim they lack the skills and capabilities to manage data effectively within their organizations. This is a burning issue, as one of the most critical components of developing consumer trust and improving the customer experience is deeply understanding your customers and how they engage with your brand.
Financial services providers with many advisors in the field also need to manage data on not only a corporate level, but a local level as well. In 2018, we predict more financial services marketers will adopt a data-driven marketing plan, allowing them to make more informed marketing decisions.
3. Using Distributed Marketing to Power Omni-Channel Campaigns
Financial services marketing is unique in that new media channels don’t replace the old ones. With the rise of digital and mobile marketing, many industries have seen the demise of direct mail and other print marketing methods—but studies show that financial services marketers still experience the benefits of more traditional tactics.
With a growing number of media channels to manage, financial services marketers need omni-channel campaign management tools to ensure they’re achieving brand consistency and compliance—as well as meeting industry regulations—across all channels. In 2018, we predict financial services marketers will turn to, or upgrade to, a distributed marketing platform which can help them oversee and manage omni-channel campaigns on a local level.
Reaching Your 2018 Marketing Goals with Distributed Marketing
In a highly-regulated, complex industry like financial services, corporate marketers need sophisticated technology to meet revenue objectives and help their local channels achieve growth. To learn more about unique marketing challenges in the financial industry and how distributed marketing can help you solve them, download our whitepaper, Marketing Challenges in the Financial Industry.