Globalization, mobility, and information availability are our current trends. Now, the global economic system is being profoundly reshaped by digital technologies. So, it is safe to say digitalization is here to stay. However, recently there has been a decrease in the number of older generation customers due to online banking. Taking this into account, making bank operations appealing for everyone is one of the main targets of the banking sector in today’s world. So, how can it be achieved? Can digital marketing be a useful tool in this regard?
In what ways digital marketing can help the sector to improve?
- Influencer-based marketing. Influencer marketing refers to the practice of collaborating with influencers to boost brand recognition or conversions among a certain target group. Research shows that influencer-based marketing results in up to 11 times the ROI compared to traditional marketing channels. Besides that, brand awareness, building a brand can be extremely helpful to attract consumers and increase the popularity of your banking services.
- Content Marketing. Content marketing also allows you to reach a wider audience. In the financial sector, you want to be considered trustworthy for your consumers. Content marketing can help you to achieve this. Content provides information and builds trust between the parties. Seeing tons of ads everywhere makes people perceive that thing more valuable than it actually is.
- Or the classic way. Ads! There are different types of ads that banks use nowadays. There are search ads that appear according to your search history, remarketing ads that focus on specific website visitors. Facebook turns out to be the most famous option for digital advertising. According to this source, 61% of ads on msn.com are bought by financial institutions. This shows the significant importance ads play in the banking sector.
- Search Engine Optimization (SEO). SEO refers to a set of tactics that can help your bank’s website rank better in search engine results pages. This is critical if you want to improve website traffic and overall revenue because many of today’s consumers utilize search engines like Google to get what they need. Having a mobile-friendly website is a plus!
- Appointing a chief digital officer (CDO). A Chief Digital Officer’s role is to coordinate the digital transformation, engage in public relations, and serve as an innovation radar. The background of CDO is related to e-commerce, marketing and social media. CDOs can generate additional business value from innovation and digitalization to any financial institution.