Financial Marketing in the Digital Age
Think of the brands you trust and enjoy working with. We’ll wait… Clothing companies, car companies, lifestyle brands, etc probably come to mind. Banking and financial technology services? Not so much. Why is that? We all use them every day — there’s an implied amount of trust, provided we hand over all our hard-earned cash to them, and yet, there’s a disconnect, a distrust, even skepticism we’re all on the same team.
Adopting a fresh and inspired financial digital marketing strategy for your business means accepting the need for a serious rebrand of your organization. To convince the booming millennial demographic your company is a genuine, trustworthy entity that knows how tough it can be to trust banks, credit card companies, accountants, wealth management brokers, stock brokerages, and private lending companies.
The financial digital marketing team at Riverbed is well-versed in rolling out creative and authentic inbound marketing campaigns custom-tailored to the financial services crowd. Here’s what we’ve learned over the years:
You Need to Rebuild
Straight up — 92% of individuals polled between the ages of 18-34 say they don’t trust financial institutions to handle their money well. That’s pretty well the entire spread – nearly all 9.8 million in Canada – meaning the largest share of the Canadian population don’t trust your business, so a serious rebuild of your image, brand, and financial digital marketing efforts is in order if you’re going to build trust and gain their business.
Connect With Customers
The disconnect customers feel towards fintech, or even the financial services industry more broadly thanks, in part, to a few things:
- Confusing financial lingo
- Inconsistent client experiences
- Unreliable guidance
Confusing money jargon is a great way to help prospects and potential clientele feel a disconnect from your brand from the get-go. If you can’t speak to your target market, you’re breeding an unapproachable aura, and no one wants to work with a brand they can’t identify with.
The third is the reality that the financial world is an ever-evolving, confusing space with inconsistencies and pain points. Inconsistent advice from financial services representatives helps cement distrust when it comes to both short term and long term financial decisions – and people don’t like rolling the dice when it comes to their money.
The Way Forward
It’s simple. Address the pain points of your clients – don’t tout the grandeur of your organization.
A great inbound marketing approach to refocusing your financial marketing efforts includes ditching the finance-speak. The key to assessing your tone, your brand voice, and the way your business interacts with its ideal target market is not making them feel clueless.
Leaning on your understanding of money markets, interest rates, financial instruments, the stock markets, and financial products is a surefire way to lose your audience. Instead, speak to them as people who care about their money.
We use carefully curated content to connect with your ideal audience and address their pain points with clarity, honesty, and transparency. Is the financial business sector a confusing, inconsistent space? Address that. Stop brushing it under the rug.
Content marketers use blogs, videos, podcasts, and eBooks to directly communicate with your preferred market over social media to project the message: you understand. When businesses use authenticity and honesty as weapons in an effort to alleviate those concerns of distrust, they deflate the elephant in the room and begin building bridges. When you build bridges to social responsibility, trust will follow.
A financial digital marketing strategy built around trust helps generate approachability and credibility in your capital markets over the long term.
Financial Marketing is about Building Relationships
The primary market of financial services marketing is will always be people. Buyers and sellers, stock holders, savers, and investors are people – and they care about where their money goes, and how it’s cared for.
Let us position your brand to better communicate with the people it serves – not a finance department. Together we can build meaningful relationships with new customers and re-establish trust in your old ones.