The financial services industry continues to expand into new territories which are mainly due to modern technology. There are many financial tools now available in our disposal including mobile banking, machine learning, 24/7 chatbots and artificial intelligence. In order for customers to know about these services, internet marketing is employed by banking institutions and financial providers.
The costs of acquiring new customers are quite high in the financial services industry compared to other industries. With the help of internet marketing through social media, there are affordable and even free alternatives. The main objective of internet marketing is to share insightful contents to other customers such as existing clients sharing their experiences with the bank or sharing essential information to help consumers better manage their finances. The reach of social media marketing is quite wide that it is not recommended to skip this internet marketing strategy.
Digital video advertisements are also getting the attention of financial institutions because according to experts it is expected that the number of viewers of these digital ads will reach 2.15 billion in just a few months time. The increase might not be as rapid as before but the method still reaches a lot of audiences therefore brands should not miss this marketing opportunity. One thing brands have to master is to use more affordable methods such as drones, phones and GoPros rather than hiring an expensive production to do the job.
Another trend on the rise in terms of online marketing is hiring social media influencers. These are group of people with a lot of following in various social media platforms. They have gained the trust of their followers and hiring them as brand ambassadors are cheaper compared to hiring full-pledge celebrities.
If you were to ask a financial expert, Nadeem Shaikh Anthemis, he will tell you that collaboration is another way to reach out new customers. The key is finding companies that will go hand in hand with the services or products that your company is offering. This method incurs cost reduction and a higher rate of conversion.