bankingciooutlook

4 Marketing Tactics that Banks Can't Ignore

By: Banking CIO Outlook | Monday, June 01, 2020

Improving marketing communications with innovative methods will enable bankers to drive growth and profitability.

FREMONT, CA: The most important objective for any successful financial marketer is to focus on improving the customer experience across channels and with every communication. Ever-demanding customers will no longer tolerate poorly targeted marketing communications. Improving marketing communications from the consumers’ point of view can only drive growth. Below are some of the most interesting marketing tactics for the banking industry. 

• PPC Ads

Banks can run PPC search ads for marketing. These PPC ads will help banks describe their services and everything else that they offer. PPC ads will also include the bank’s location and contact information. Some customers may visit the bank’s website but will not avail of services yet. These types of customers will be retargeted using display PPC ads that show what they are missing.

• Optichannel Marketing

Beyond multichannel and omnichannel, the optichannel in marketing enables financial marketers to communicate and help customers in their shopping and buying process using the channel that is best fit for them. The aim of this method is to support an easy transition between digital and physical channels for the best possible customer experience. Financial marketers need to move beyond single-channel marketing.

• Battling Ad Blocking with Relevant Content

Consumers are using adblocking tools to avoid being spammed with digital marketing messages. When financial product marketing strategies take precedence over delivering improved customer experience, all financial marketers can end up losing. The solution to ad blocking is to provide relevant content that provides value in exchange for accessibility, to the consumer. The customer ad experience must become a priority for banks to improve marketing efforts.

• Using Newsletters

Using newsletters is one of the top ways to reach past, present, and future clients of banks. The reason why customers like a newsletter is because it is a convenient means to stay informed. To keep potential clients even more interested, banks can use an informal and personal style when sending newsletters with them. It will give clients a sense of personal connection that is preferable over a formal style, which may not offer a positive connection.

Financial marketers must embrace the above trends within all objectives, strategies, and tactics. Doing so will become a key differentiator in the future.

See also: Top Digital Marketing Solution Companies

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