Digital marketing is essential in every industry, including the financial sector. However, new technologies, channels, and strategies are being developed every day, making keeping up with these changes challenging.
Whether you work for a community bank, credit union, or marketplace lender, you have to be agile and willing to embrace change. This is the only way to stay ahead of the competition and become an industry leader. Here are some financial marketing trends you should expect, be aware of, and consider adding to your strategies:
Chatbots were initially used to replace human customer representatives who answered frequently asked questions, managed routine tasks, and resolved predictable issues. As their algorithms learned from previous results over time, they were programmed to provide more detailed solutions.
At present, the use of chatbots is expected to rise. In fact, this technology is now starting to become a key component of online customer service and marketing. Therefore, consider integrating a chatbot into your website, application, or social media platform. This way, you can respond to queries about generally complicated financial transactions and increase engagement with your clients.
According to Selligent research, customers expect companies to understand their likes and dislikes on a very intimate level. This is especially true if they explicitly provided their data. In addition, 74 percent of the respondents mentioned they prefer brands to treat them as individuals and not as members of a specific target market segment.
Your financial business can address this issue by taking advantage of the benefits offered by machine learning (ML) and artificial intelligence (AI). These technologies have driven more efficient data analysis increasingly, making it easier for you to deliver hyper-personalization to your clients. In short, you can create content and unique customer journeys specifically tailored to them.
Another way to provide highly personalized services is to use predictive lead scoring. It works by focusing your brand on your clients’ needs, deploying real-time trigger campaigns to deliver dynamic content, and engaging with custom communication. Using these technologies, you can promote authentic, customer-centric marketing and establish genuine relationships with your clients.
AI & Machine Learning
Keywords and search histories used to be the main components to determine consumer intent. With AI and machine learning, your bank or credit union can automatically identify intent using different sources, such as social media, transactions, and behaviors.
The online world presents many distractions, making it difficult for you to attract your target audience’s attention. If you’re looking for ways to captivate your clients immediately, invest in video marketing.
Video is one of the most effective forms of content that can help you keep your audience engaged. You can also educate them by creating a video that provides genuine value. For instance, you can share tips or a how-to guide through videos to teach your followers something they probably didn’t know about your business or the financial world. This way, you can establish yourself as a thought leader and trusted expert in the industry.
Your financial business must keep up with the latest changes in digital marketing and make the necessary adjustments to update your marketing strategy. Use new technologies and tools and keep the trends listed above in mind to avoid being left behind in your marketing and increase the likelihood of your marketing campaigns’ success.
To get started in keeping up with digital marketing trends, work with Lavender Digital, a video marketing agency in Atlanta. We offer video strategy, production, and marketing services that drive results. Schedule a complimentary discovery session today!