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Digital Transformation

Why Financial Services Need to Focus More on Digital

In order to shore up your present tactics, as well as lay the groundwork for next-generation marketing – so you can maintain a competitive advantage – you have to remain at the forefront of digital marketing. To do this, we are sharing 6 marketing ideas & transformation for financial institutions and banks:

Concentrate on “Micro-Moments”

All of us know that life is comprised not of the bigger picture, yet of the little moments which add up to the bigger picture. However, what you might not recognize is that a whopping 96 percent of folks turn to mobile devices in their times of need, also referred to as micro-moments.

Therefore, how can your financial institution respond? Of course, with resources and content customized to financially based micro-moments. With the assistance of a savvy content marketing and SEO team, your bank may anticipate everything from the core of your customers’ economic concerns to the road of their financial dreams – as well as create the videos, articles, and other rich, engaging, and useful content that answers questions and fuels life and financial goals.

Concentrate on Emotional Engagement

We have touched on dreams and worries, which brings us to the following financial institution marketing trend: fostering emotional engagement with your financial institution. Rather than concentrating on the transactional element of the usual bank-consumer relationship, change your thinking to the emotional/financial journey: what life stages, experiences, and additional touchpoints within the customer lifecycle lead folks to your financial products and your bank?

Concentrate on the following moments: marriage, graduation, savings, expanding families, retirement, remodels – all of the emotional, should-be-thrilling life experiences and moments which usher customers through a bank’s doors. From that point, build out marketing campaigns around those touchpoints, in order to create storytelling initiatives, purpose-driven campaigns, and additional engagement.

Migrate Social and Website Messaging to Chatbots

For financial and bank customers, there are very few things more annoying than waiting for answers regarding their money. However now, because of AI tools like Intercom and Drift, they do not need to: live-chat tools of today may be powered by AI – artificial intelligence so good that your customers will not know they are chatting with bots – to offer accurate and instant answers to customer questions, through your social media chat, website chat, and additional sources.

Incorporate Video into Customer Journey

Content marketing matured into an essential of all marketing plans. If your financial institution lags in video creation, 2019 is the year you need to finally get on board – and fast. Video, after all, has shown to be the most effective kind of content, which encourages customers to spend an average 88 per cent more time on your website than they would if there was no video.

Personalise and Customise

Digital transformation trend propelled us out of a one-size-fits-all era and right into the age of personalization. Your customers expect personalized, laser-focused solutions and, because of advanced data analytics, they are within your power to offer.

Bottom line: Your banking institution’s customers look for personalized solutions for their financial needs. Plus, they need them in real-time. With the assistance of responsive technologies, analytics, customer insights and additional data-driven marketing tools which follow customers throughout the sales funnel, your financial institution now can generate tailored communications and offer to answer your customers need at specific points within their journeys.

Spread Love to Generation Z

Millennials still are the darlings of the marketing realm, yet Gen Z is about to soar onto the scene. Born starting within the mid-1990s – there are numerous definitions, which range from 1993 to 1997 as a beginning year – the oldest Generation Z’ers are within their early 20s. So, what does this mean? They are getting prepared to graduate college, go into the workforce, purchase their first new vehicles, and – soon enough – get married, buy their first house, welcome their first baby, as well as celebrate additional major life milestones.

Gen Z represents a chance for your bank. They’re researching where they should open their initial “adult” credit cards, checking accounts, and additional lines of credit. In another 10 years, they’ll represent among the biggest markets for banks and financial institutions. So, get a handle on Generation Z – before the competition does!

For more information on web design focused on the financial sector contact Romulus Dynamics today!

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