As far as marketing goes, banks are always bastions of conservatism. Bank marketing has always constituted marketing events, print ads, brochures, direct mail and many other traditional marketing channels such as TV. But there is change in the horizon and more banks are increasingly embracing new marketing forms, particular digital media marketing forms like SEO, PPC and social media. These offer an interactive engagement compared to the static one way traditional marketing forms.
Banks have been growing tremendously in the last few years but the competitive landscape has also heightened. That means more banks are willing to go the extra mile in order to gain or retain their customers and that sometimes means venturing into the uncharted territory such as digital marketing. The same trend can be seen in other “conservative” industries such as law and there has been a revolution in law firm marketing, too, in recent years.
Banks are also getting savvier about the use of other digital marketing channels such as mobile apps on iOS and Android. There is increased focus on personalization and content marketing in order to attain the extra marketing edge for these banks. These trends are being seen not just in the bigger banks and multinationals but also in the community banks where engagement and personalization can have a great impact. Here are some of the top marketing trends for banks and even law firms that will be seen in 2015/2016:
Greater Emphasis on Digital Marketing
Banks are finding new respect for digital marketing channels and techniques that have long been deployed by various ecommerce channels such as A/B testing, social media marketing, compelling content marketing, SEO and PPC marketing.
Lead generation is no longer the preserve of sleek snake oil salesmen called the network marketers or MLM marketers. A lot of banks are now investing their time and money in “respectable” lead generation programs through bank online marketing strategy.
Story and Personality
Banks have been telling lots of stories lately through the experiences of their customers and it is proving to be highly appealing to their prospects. These bank narratives have always been a part of bank marketing but now it is joining the digital marketing sphere. These stories are meant to immerse the customers into the emotion of the banking experience. Through digital marketing channels, bank marketing teams are able to spread these stories fast and make them “go viral”.
Banks are increasingly investing in a host of technical solutions ranging from robust mobile apps to interactive ATMs or innovative customer service platforms. Developing products enables the banks to own intellectual property as well as the innovation space.
Banks have discovered the power of images and they are using it with devastating effect in bank marketing. Telling stories in a visual format can have a powerful effect in the current consumer market. Banks and law firm digital marketing are combining these visuals with storytelling in order to engage their audiences and increase their brand profile.
Community banks are investing in great and compelling content as part of their digital marketing strategy. This content is targeted at the small business customers and provides useful and helpful content for their customer base. The content not only educates and markets products, but it also drives traffic, rankings and conversions. Check out Cohlab for more details.
They Embrace Mobile
A lot of banks are leveraging mobile marketing, particularly the mobile apps. Users can get a great deal of functionality on apps ranging from loan rates to an overview of packages and even self-service interfaces that allow for “mobile banking”.
For more information, visit at http://cohlab.com/industries.