6 marketing trends for the financial sector in 2019
Not surprisingly, technology continues to change the way consumers interact with the financial services industry. After all, according to figures from The Financial Brand, 4 out of 10 Americans have not visited a bank in 6 months and 67% of millennials only use online banking.
Given this reality, it is essential that banks keep up to date on marketing trends in order to effectively reach users and potential customers. These are the 6 marketing trends that you should implement in your institution in 2019.
1. Contextual marketing and native advertising
Although it is not something new, context marketing should be considered one of the most important digital marketing trends for this year.
This strategy allows timely information to be presented, at the right time, to the right users. For this, it is necessary to know your audience and properly use the data in favor of a greater personalization of the contents.
In this sense, native advertising also remains one of the main trends. It is basically a promotional advertisement of a product or service that is integrated as content to the editorial line of a site. This includes messages promoted on Twitter and Facebook.
However, we must be careful: the content must be creative and provide value to the user. Otherwise, it could be perceived as invasive advertising, decreasing its effectiveness.
2. Social listening
Today's customers expect service providers to respond to their concerns in real time and on their terms. The social listening or social listening is an important trend in this sense, insofar as it allows, "monitor the social network channels in search of mentions of your brand, competitors, products and other relevant topics for your business" and, later, analyze that information to strengthen the strategy of brand positioning.
3. Video marketing
According to the report of Hubspot Content Trends: Global Preference, more than 50% of people prefer to consume video content over other formats such as images and articles.
This presents an important marketing opportunity for brands, and especially for the financial sector. Through the videos, the message can be simplified and all types of services, both personal and corporate banking, can be made known more effectively and closely.
4. Omni-Channel Marketing
One of the biggest changes in the financial sector in the last five years is that of online banking systems, where you can open an account through video chat, request a credit card through an application and check the balance at through SMS.
Just as banking services have been transformed into an omnichannel model, marketing for banking must do the same. Having a website, a blog and social media accounts are ways to get involved and connect with customers. However, customers still feel that the messages on each of the channels are not consistent.
Therefore, instead of creating a strategy for each channel, a holistic approach should be sought. Strategies based on long-term personalized messages, transmitted on different platforms, are more effective than large-scale interactions once or twice a year.
5. Mobile search
Traffic to online banking sites from mobile devices is growing rapidly. According to Semrush, the search volume in 2017 in the United Kingdom reached 77%, and in the United States 90% of financial services customers accessed online banking from their cell phones.
Given this reality, financial institutions should make their sites more suitable for mobile devices. This not only implies improving the loading speed, but also, implementing a responsive or adaptive design so that the client correctly visualizes the site, regardless of the device he is using.
In 2018, the use of chatbots to meet customer requests was one of the main marketing trends for banking, and will continue to increase in 2019.
For banks the implementation of these technologies is a necessity, and especially for those who seek to involve millennials. As artificial intelligence becomes more sophisticated, chatbots will become increasingly complex and useful. The important thing is to understand that bank customers only want excellent customer service: they do not care if they are provided by a bot or a human being as long as they satisfy their needs.
One thing is clear. Financial institutions that want to stay one step ahead of the competition should put the customer at the center of their marketing strategies.
Understanding which content works and which does not, making decisions based on the data and creating an experience for the client that is not only attractive, but also provides value in all stages of the conversion funnel, are some of the marketing trends for the financial sector in 2019 that will take your institution to the next level.