Big trends in tech and digital are set to change how financial services firms market themselves in 2017. In many countries, the financial sector is facing significant challenges as new online services are created. In some, such as the UK, the government is actively seeking to encourage new entrants such as the new wave of challenger banks Atom and Modem and the incumbents are seeking to upgrade their legacy systems in order to meet the ever increasing expectations of digital savvy customers. In this blog, we explore key trends, latest developments and digital innovations and how they apply to both business and consumer markets ranging from established financial services brands and new fin-tech startups to IFA intermediary market. Google AdWords and display advertising, often referred to as Paid Search Marketing or PPC, is not new territory for most financial institutions and still occupies an area of critical importance to new customer acquisition in the FS sector.
AI and machine learning are making the customer experience more personalized and contextual than ever before. Banks and credit unions are using advanced technology to make websites, emails, digital advertising, social media and other content more efficient and effective. This is increasing marketing ROI as well as customer satisfaction. Subscribe to The Financial Brand via email for FREE!There is a great deal of discussion of the potential value of artificial intelligence, machine learning and robotics in banking. Unfortunately, much of the implementation of these technologies lags the potential by a significant margin.
While changes in the banking industry are happening virtually every day, there may be no area of financial services where change is happening faster than in the marketing function. From new technologies to new channels and strategies, bank and credit union marketers must be both agile and willing to embrace change. As a result, it is important to review what will likely occur over the next year. Improving the marketing communications process -- from the consumer's perspective -- drives growth, loyalty and profitability. Managing the marketing process without taking advantage of the technology tools available is a recipe for failure.
Most financial marketers are ill-equipped to succeed in the new world of digital marketing. Never before has the ability to learn new skills and competencies been so important. A modern marketing model must be applied and an always-on approach to learning must be embraced by marketers at all levels. Subscribe to The Financial Brand via email for FREE!Over the past several years, the dynamics of financial marketing have changed dramatically. While the past was a combination of mass media and some direct channels, the addition of new channels and technologies has impacted not only the tools available, but also the skills required to be successful.
Everyone who works in the digital marketing industry must have heard of the rise of marketing automation. With tools like Pardot, segmentation, targeting and positioning your marketing is not a distant dream or a fairytale anymore, it is reality. However, automation is not the only marketing technique that could benefit your business. In the article below, Marketing Tech News highlights the five break-out trends of 2017, including the emergence of AI, the usage of voice search, the modernisation of forms, the marketing opportunity in podcasting and of course, the importance of marketing automation. After you've read this article, the best thing you could do is think through which one of these tools you should include in your strategy and become a part of the evolution of digital marketing.