8 Digital Marketing Trends for Financial Services and Banks

Today's banking institutions need digital marketing for financial services more than ever. In addition, the amount of content that consumers consume via various digital media is rising. As a result, how businesses reach out to and transact with clients will change due to a data-integrated, tech-forward digital marketing strategy for banks.

The Following Are 8 Digital Marketing Trends For Banks And Financial Services: 

1. Content Marketing

A strong presence in content marketing is one method to stand out from the crowd. Therefore, any digital marketing plan for banks must include content marketing (opens in new tab) since it offers chances to deepen bonds and win clients' confidence. Blogging, case studies, print media, videos, and various other media are content marketing examples. 

2. Chatbots

For businesses ranging from e-commerce to therapy services, chatbots are more common. For example, chatbots can be helpful for financial services organizations looking to enhance their bank's digital transformation and develop relationships with their consumers, particularly younger generations. 

A chatbot will respond to frequently asked queries, let users pay their bills, and report the behavior. Artificial intelligence (AI) chatbots are one of the most widely used digital trends in financial services because Millennial, and Generation Z consumers find them convenient.  

3. New Positions In Marketing 

Any successful digital marketing plan for financial services must include new digital talent. Financial institutions can gain a significant competitive advantage over their rivals by enlisting the help of fresh, talented people for their digital marketing initiatives. These people are skilled in fusing data-driven technology with digital marketing. "Chief Analytics Officer" and "Digital Project Manager" are specific job titles. 

4. Video Advertising And Content 

Today, videos make up the majority of material shared online via social media. After Google, YouTube is currently the most popular search engine. By 2019, video is anticipated to account for more than 80% of all web traffic, according to Forbes (opens in new tab). Therefore, any digital marketing strategy for banks must include video if your company still needs to start using it for advertising campaigns or providing financial education (opens in new tab). 

5. Webinars And Live Streaming 

Webinars and video conferences are excellent ways to find new prospects. Invite visitors and internal subject matter experts to present information to prospective and current clients. Recorded archives of your financial brand's webinars can be stored in an accessible web library as you produce more. Customers have a resource they can go back to with a reputable portfolio of webinars. 

6. Individualization 

Every bank's digital marketing plan should use Big Data to deliver individualized product recommendations and services. Small credit unions and retail banks can do this, but big tech companies already do it (think of Amazon). 

Personalization is a process that takes time to develop and cannot be put into practice right away:

1. Audience testing requires A/B testing and other studies.
2. When you know what your customers want, you may divide them into like-minded customer groups.
3. You may provide customized experiences by utilizing AI and marketing automation. 

7. Banks' Data-Driven Digital Marketing 

Data integration allows marketers from financial institutions to measure how well an ad campaign or piece of content is functioning. Emails, social media, and website analytics produce enormous amounts of data. Marketers can use a variety of platforms to interpret data trends. The correct blend of automation and content production may give sales associates customized insights. 

8. Local Social Media Engagement 

Customers may find large retail banks and other financial institutions need to be more professional. In addition, engaging in local social media is a wise move for search engine optimization and informing communities about events and promotions. 

Conclusion 

Financial services companies must stay abreast of the latest digital trends to remain relevant. Are you seeking to comprehend the process of constructing a comprehensive financial digital marketing plan from the ground up? If so, we urge you to contact KLB Solutions. Our team is well-equipped to guide you through the intricacies of digital marketing in the financial sector.