Au contraire to the Lead bot, support bots are more of a virtual guide for your customers. Your customers may not all be fluent in all the ‘how’s’ of your product or services and they may also not have enough time to read through all your websites to find out enough information. Most banks welcomed 2020 with a familiar strategy: Continue to ramp up digital banking solutions to meet growing consumer expectations, while competing with traditional and fintech banks for customer loyalty. 1. A cup of coffee. Now that 2020 is around the corner, we’ve identified the top five digital marketing trends to watch: Higher expectations from a brand’s human connection; More competitive digital space, … Her task was to write down everything she spent over 12 days during the Christmas period to track her spending. Siri and Alexa are the most famous voice-search enabled virtual assistants that we have today among many others. With a new year and the start of a decade some trends will clearly dominate the world of marketing in 2020 and … The trick to omnichannel marketing is to offer something unique to a service or task that is not as exciting or difficult for people to engage with. In doing so, you can stay current and get in front of the right people. Now, how is it beneficial for financial institutions to have these VAs? The aim of this video is to allow Nationwide to highlight how they are helping their members during the pandemic to secure their futures. Here are some of the current trends financial services and advisors should be paying attention to. Depending on the service you want to provide, there are two types of bots that you can choose from: Qualifying a lead for financial services is deemed as the most important function of any Finance Business. UK based bank, Natwest, has a full catalog of helpful tutorial videos on their YouTube channel from explaining how to open up an account to connecting with younger audiences through their MoneySense Mondays, a series of videos that explain money matters to children as young as five years old. We always talk about the constant change and evolution of marketing trends and strategies that this time, we also want to highlight how equally important it is to keep up with the rising financial marketing strategies this 2020. It can be an excellent way for businesses to change up the way you showcase the services and products while engaging with audiences and connecting with them by offering advice and knowledge. Customers of Aviva Pension can use the relative Alexa skill to check their regular pension contributions and their pension value by adding the Aviva skill to their Amazon devices. Aside from just posting them onto your website, you can also opt to send exclusive contents of that sort to your customers’ email. If you’re stuck with what kind of videos you could post, start off with simple video tutorials or demos on how your product/services work. It’s completely different from everything else other banks are doing. You might even decide to create some how-to videos which illustrate how customers can use your services. Learn how your comment data is processed. If they get qualified based on the information they enter, the bot now can send their details through to the sales team so they can get in touch with the lead and start the purchase journey. They can message their queries through the app, schedule appointments, check their deposit balance, etc. Shoppable posts are yet to be fully embraced by financial services, but we could start to see limited products filter onto social. If Finance Companies start going more and more virtual while still having that human touch and look out for your customer’s financial needs and wants, that’s when innovation starts. The longer it takes for a transaction to go through and finish, the more off-putting it becomes. On the other hand, some banking companies have taken several steps more forward and truly thought out of the box. Four Marketing Trends to Prepare for in 2021 on December 15, 2020 Featured, Retail and Marketing. And in order to keep up with the fast-changing world of marketing, it is absolutely necessary to possess the right tools and incorporate them into your current financial game plan. don’t mind advertising that comes from or features their favorite personalities? Digital bank, Starling, launched its #FeelGoodAboutMoney hashtag to get people to think about their attitudes towards money and spending. It shows that you can get an 80% boost in your conversions by integrating videos into your landing page. Too many companies are turning up their noses at the idea of working with influencers, but influencers aren’t anything new. For this campaign, they worked with blogger Charlotte Jacklin who has almost 80k followers, giving Starling more exposure. In fact, businesses are already using voice-powered search to allow customers to conduct searches. The 2020 Election Also Plays A Role. We always talk about the constant change and evolution of marketing … Capita One, for example, has launched an impressive “Banking Reimagined Tour” wherein they established two Capital One Cafes which allowed people to recharge their bank accounts and devices all while managing finances using simple digital tools over – yep! They can handle all the financial product related questions that your customers might have round the clock so you don’t have to worry about queries stocking up unanswered in your chatbox while you sleep at night. Not being afraid to stand out, goes a long way in digital marketing, especially in financial marketing services, where connecting with audiences is hard. To truly understand and take advantage of artificial intelligence within data analytics, working with a data analytics firm that has a good reputation of approach and delivery is the best way to find out how AI can work for your business. The Top Marketing Trends You Need to Adopt in 2020 Marketing continues to evolve at warp speed. To make use of analytical data, firms are now turning to artificial intelligence to leverage and filter data. What we can learn from them is that if financial companies want to stay relevant and not fall behind, it’s important for them to keep integrating multiple platforms and facilitate smooth communication and cross-platform support for their customers. This article originally posted at The Savvy Marketer. And if that wasn’t shocking enough. Back in December 2019, Alex Stedman, or as she is known by her Instagram handle, The Frugality, did a. with British bank, Natwest. I will definitely be implements some of these into my marketing strategies moving forward. The data looks at where families shop and how much they spend. Some of these changes represent accelerations of previous trends, while some are new trends altogether. Amazon has created an Alexa skill for the Amazon Store Card in which users can interact with this product by adding the ability to their Amazon devices and allowing users to manage their accounts simply by using their voice. For example, the Capital One Cafes target people who usually might find it hard to track their finances are encouraged to take hold of their finances in a dedicated space, making them feel more comfortable and confident to check their spending. Currently, companies that are working with influencers tend to be digitally focused and collaborate with them on bigger campaigns. The good news is that’s exactly what chatbots have been created for. For Natwest, this was extremely beneficial. You have a greater chance of attracting prospects to your website by combining videos into your marketing as users frequently spend 88% more time on websites with video content than those that don’t. Content marketing: By 2020, we expect to see more use of content marketing, from financial education to product demonstrations and advisory messaging. The critical thing to remember about deciding to create any video content is to ensure that the material is of high quality. It’s an exciting topic for an organization like Deloitte to focus on. The data looks at where families shop and how much they spend. Another example is financial Instagrammer My Frugal Year, who recently ran an ad for. ... experienced commercial success during the 2007 Global Financial Crisis. AI in data analysis can be used by finance businesses to make credit decisions, manage risk, offer personalized banking, cybersecurity, and fraud prevention. It's imperative to adapt and evolve with new marketing trends to stay competitive and … In the video below, poets Maria Ferguson and Matt Abbott recorded themselves performing a poem at home, noting things that matter for their wedding day in six months’ time. These are the type of videos where you might talk about a product or service you provide and go through the main features and benefits. Live streaming technical analysis on your platforms can engage your audience in real-time of maybe a BTS of something you are working on or for them to tune in into a seminar/conference you are holding. For this campaign, they worked with blogger. Once you have your videos, they can be distributed across your website, social media channels, video platforms such as YouTube, or you can find PR opportunities. Payments trends 2020: Mastering a dynamic market The dynamic payments industry continues to expand and evolve, with digital payment vehicles and transaction volumes growing across the globe. While these are similar to your explainer videos, how-to videos go more in-depth with step by step instructions. Here are some of the current trends financial services and advisors should be paying attention to. Not only does Alex have a 255k following, but she also engages regularly with her followers about money and spending. And if that wasn’t shocking enough, did you know that 58% of younger audiences don’t mind advertising that comes from or features their favorite personalities? What’s more, is that your voice-enabled VAs can double as analytical agents and elicit valuable inputs that help you build a stronger business strategy. Video content is certainly not something to be overlooked. Overall, AI-enabled real-time audience insights can help lower and even prevent you from wasting valuable advertising and marketing resources for financial companies all while allowing them to engage and interact with your customers in an efficient, proactive, and accurate way. just for small businesses, provides its audience with tips and insights on how to grow their client list and better engage with their consumers. Another type of video can be testimonials with current clients who are happy with your products or services. Live video has been growing in popularity in the financial … Artificial intelligence is definitely a trending financial marketing topic that can be hugely beneficial for your business in multiple ways, including analytics. ... so investors must stay on top of these trends. The world is continuously changing, and with it, the way customers interact with businesses. “How-to” videos are a great avenue to show your investors how they can use their products and/or services or how to use it to create webinars for their consumers. Engagement data can help you identify the sorts of content that people are interested in and can guide your decision making in creating stronger and more curated content. So, the best solution here is to use video marketing to capture their attention and provide faster solutions. Customers expect instant results as well as instant answers to their questions. Banks and credit unions will … Artificial intelligence can garner data around topics, conversations, and areas of your business that your customers are interested in. And all trends point to this kind of ecommerce growing in 2020. Content Marketing Key Marketing Trends for 2021. Time wasted is money wasted and a prospect lost. US lockdowns began in March 2020 (the end of Q1). It’s a good idea to work with a videographer not only to shoot and edit your videos but to talk through your video content ideas to make sure that they are viable. Creating good content takes time, and it should. Judy Caroll February 21, 2020. By working with My Frugal Year, they can make use of her 60.5k followers who are already interested in financial content. , PwC explains how analytics can power financial service businesses. However, this allows Deloitte to connect with American families on a sympathetic level, building that vital brand trust. The most recent video marketing stats show that audiences love and want to see more video content from brands. This report highlights how analytics is already being used within the financial sector and how it can improve your business. Single. You guessed it! “What are your biggest pain points?’ ‘What are they looking for in a financial product at the moment?’ are good questions you can ask them and then take it off from there. , a free finance personal assistant app that currently has over 2k followers. Here are seven of the top trends to keep tabs of through 2020 … You’ll see a big push for this in 2020. They would have to provide relevant details about their business, needs, interest, etc. You can just talk to your phone, prompting a virtual assistant with your voice. Our comments are moderated. Time. These types of videos can inspire your audience as well as encourage them to engage with you. Here’s Capital One showcasing their cafes and the reasoning behind the initiative. It is to help shift from a product mindset to a customer-centric one by providing them with a ‘voice’ that answers their queries. 30 seconds to two-minute videos can be really impactful in getting potential customers to engage with your business. Address your key customer concerns so they know you also care about what troubles them. Lastly, never underestimate the impact of emotional and relatable video testimonials and the power of storytelling. The report even includes the contact details for Rodney Sides, the Vice-chairman of Deloitte, and Stephen Rogers, Executive director. If our hands are too full, that’s not a problem anymore. Back in December 2019, Alex Stedman, or as she is known by her Instagram handle, The Frugality, did a paid ad Money Diary with British bank, Natwest. It’s all about connecting your prospects to your marketing department for more personalized questions. As such, customer experience (and continually evolving digital transformations necessary to keep up), digital expansion and all things identity will also reign supreme as we enter this new set of Roaring 20s. A post shared by Charlotte Jacklin (@charlottejacklin) on Jan 8, 2020 at 11:24am PST. With this data, you can easily segment customers to improve products and services and target audiences with personalized messaging that will produce better success rates. ... Let’s review a few key lessons from 2020. It is yet to be seen the duration of these changes, but each deserves a careful review. This article was written for Business 2 Community by Judy Caroll.Learn more about writing for B2C, Judy Caroll is a Marketing Executive at Callbox, a blogger, online marketer, she helps their business improve by giving expert advice on sales and marketing.… View full profile ›. 5 Big Trends Impacting Financial Marketing Strategies in 2020. Everything has to be instant now. These bank ads provide an opportunity for Nationwide to go back to its roots in a powerful, authentic, and thought-provoking way while giving people a voice on the things that matter most in their lives.”. After all, offline interaction with customers is just as imperative for building trust and excellent customer experiences. If you have yet to wrap your head around the idea of ordering everything from groceries to your latest gadget online, then brace for more radical transformations currently in the works in the financial industry. Tides of change for financial marketers have been rising in technology, talent, data usage, analytics and image-building. Video marketing could be considered a luxury back in the days since not many companies saw the value in spending a good chunk of their resources for a 30-second to 2-minute video. Pierre-Loïc Assayag of Traackr Shares Standout Influencer Marketing Trends of 2020 The executive says COVID-19 accelerated trends that were already under way. This goes to show that there is a lot of value for financial businesses to invest in video marketing. Chatbots have been around for some time already and with better versions constantly popping up, you can now include conversational banking into your bots to give your customers a personalized experience at every financial stage. Consumers are already using VAs to conduct random searches and populate shopping lists, so using VAs as a solution for financial operations is a solution that isn’t too far away. From increased accessibility to broadening … Top Trends in Technology Selling for 2021, Cyber Security Lead Generation: Where and How to Look for New Leads in 2021, 3 Content Marketing Tips from Top Tech Companies, Image: Positioning: 5 Strategies to Stand Out From Your Competitors, Image: Key Personality Types That Work Well Together, Image: Reply Email Samples for Different Situations (Several Examples), Image: Key Activities and Your Business Model, Image: 10 Employee Feedback Examples and How to Use Them. Thankfully, many banks have developed their own user-friendly apps and optimized their websites so that their customers can actively engage without having to physically go to the bank. Without a doubt, marketing has emerged and evolved as an indispensable element for stirring the right conversations that are more customer-centric. There are multiple ways of using video to connect with your audience, starting with explainer videos. It’s always best to take inspiration from your competitors but never outright copy. Upon launching this campaign, Sara Bennison, CMO of marketing agency VCCP Media, said that “The voices of ordinary people are rarely heard within financial services advertising today. Another type of video can be testimonials with current clients who are happy with your products or services. So, if our virtual assistants on our phones can help us with our groceries and random researches, why not also with financial operations? It is now becoming … That’s where digital marketing for financial services come into play. For financial services, you might be wondering how this could work, but there are loads of ideas out there, you just need to be bold. Starling is an example of how financial businesses can use an exponentially growing market to expand their audience as well as products and services. This data can also be beneficial for building marketing campaigns in multiple ways, from using data to deliver information to customers but also to target specific types of customers with the data collected about them. Today, we expect to be able to access our bank accounts at the click of a button on an app, obtain financial advice via online chats, and schedule appointments through booking systems. By working with My Frugal Year, they can make use of her 60.5k followers who are already interested in financial content. VAs aren’t just flashy methods of brand integration. Because they dug deeper and found out what was really … As a finance company, it helps if you tweak your marketing accordingly to find out more about your customers’ emotional motivations for their financial transactions. 2020 Marketing Trends for the Financial Services Industry. Always make sure that your content is thoroughly researched before you put it out into the world and keep track of who is engaging with your content. Digital channels, social platforms and targeting capabilities are growing at a … By 2020, 50% of searches are to be done by voice, and with the aid of virtual assistants such as Alexa and Siri, this is going to be much easier. However, other methods aren’t to be overlooked, including white papers, reports, eBooks, even questionnaires that can be a form of content marketing. These are trends … For example, since 2016, British bank Nationwide has been running financial advertising campaigns featuring poets from multiple backgrounds. 2020 Marketing Trends for the Financial Services Industry February 17, 2020 / 0 Comments / in Growth Hacking / by Judy Caroll We always talk about the constant change and evolution of marketing trends and strategies that this time, we also want to highlight how equally important it is to keep up with the rising financial marketing … This report published data on how families in the US spend their money when children go back to school each September. In Q2, most media use remained level with slight rises or falls here or there. Financial advisor company Crediful consistently publishes articles on their blog, offering a wealth of knowledge on money advice from credit to loans and debt. Now, the thing is, people want to be able to even do their banking at just one click of a button from wherever they are, at whatever time of the day. In fact, many financial companies have already jumped on to this already. That is not the case anymore today. This will make predictions easier and quicker, enabling institutions to make smarter decisions. From long-form copy to articles and studies, financial content marketing is adaptable and can be used no matter the products and services you offer. We look at the three financial content marketing trends you need to master by 2020. You might even decide to create some how-to videos which illustrate how customers can use your services. Your comment may not appear immediately. As far as megatrends are concerned, the following should be considered in the future deployment of financial marketing … Discover how emerging trends are set to impact the financial services landscape in 2020. Although financial marketing trends are always changing and evolving, one thing still remains the same—building better relationships with customers. so you can tailor bespoke marketing campaigns and reaching your right target audience. This addition to the report strengthens the message that Deloitte cares and is there to listen. This site uses Akismet to reduce spam. Every. For example, since 2016, British bank Nationwide has been running financial, Nationwide’s strategy connects with audiences because these, Financial advisor company Crediful consistently publishes articles on their blog, offering a. on money advice from credit to loans and debt. This article can help other businesses create strategic ways to build connection effectively and engage more with their audience by learning from what big companies are currently doing. In their 2018 Data Analytics in the Financial Services Industry report, PwC explains how analytics can power financial service businesses. While you likely have a financial content marketing strategy in place, it should never be a static document. Fortunately, today’s financial marketing trends give businesses a lot of scopes to get creative and produce campaigns that are effective in getting the attention of your target audiences. You can even get inspired by Deloitte that created a “Back to School” survey in 2019. Considering millennials are a significantly large proportion of the current workforce, that’s a lot of people to need to get onside. Capital One, for example, has developed two Capital One Cafes allowing people to sit and charge their devices and manage their finances over a cup of coffee. Press release - Wise Guy Research Consultants Pvt Ltd - Personal Financial Management Tools Market 2020 Global Trends, Share, Growth, Analysis, Opportunities And Forecast To 2026 - … In 2016, CoinTelegraph reported that 92% of millennials don’t trust banks. In recent years, financial services and advisors have all grown their online presence to cater to modern audiences. Unlike during the financial crisis, the banking … Companies like MasterCard have been working with celebrities for years on their advertising campaigns. Another example is financial Instagrammer My Frugal Year, who recently ran an ad for Money Dashboard, a free finance personal assistant app that currently has over 2k followers. Not only does voice-powered search give your customers better brand experience, but the use of VAs can also provide you with analytical feedback such as what information your customers prioritize, giving you valuable insights to improve your products and services. Omnichannel marketing is often successful when marketing teams have dived right into the creative pool. Digital bank, Starling, launched its #FeelGoodAboutMoney hashtag to get people to think about their attitudes towards money and spending. In 2020, we can see the huge impact that digital marketing has had over the last decade, and more. The best way that you can enhance your customers’ experience nowadays is by putting out video content, and the Finance industry is not exempted from this. © Business 2 Community. Here are the TARs from Q2 2020, Q1 2020 and Q4 2019. Download now Backed by comprehensive consumer and market data and grounded with in-depth analysis and brand examples, discover how four emerging trends are set to impact the financial services landscape in 2020. These fintech trends … One of the critical things to remember is to stay true to your brand and message. While these features are essential, it’s all too easy to forget about developing your offline methods of marketing. Join over 100,000 of your peers and receive our weekly newsletter which features the top trends, news and expert analysis to help keep you ahead of the curve. The second blog of our digital marketing trends in 2020 series examines another all-important aspect of your marketing – the audience! You might decide to run an event or create a pop up to get customers to engage with you. Content marketing trend 1: Live video. Nationwide’s strategy connects with audiences because these financial ads feature people who are just like them, the messaging is engaging. … Thank you for sharing these helpful key trends, Ana. Did you know that 84% of millennials don’t trust ads from traditional media campaigns? Implementing your own financial content marketing strategy can work in multiple ways. Conclusion I know a lot of the stuff I mentioned above isn’t talked about a lot and they aren’t popular marketing topics that everyone wants to hear… but it is the future. The key thing for financial businesses is to remember that building trusting relationships takes time and a lot of work, but creating robust campaigns with innovative ideas that put the customer at the forefront will make you the popular choice. Screenshot from PwC Data Analytics in the Financial Services Industry report. Data Analytics in the Financial Services Industry report. That’s where digital marketing for financial services come into play. This will give your customers a different avenue and way of experiencing your services. All Rights Reserved. Considering millennials are a significantly large proportion of the current workforce, that’s a lot of people to need to get onside. Data Analytics in the Financial Services Industry. You can use the skill to provide general information or specific account information to your customers. Try integrating the power of segmenting customers (banking, savings, investments, etc.) Fortunately, today’s financial marketing trends give businesses a lot of scopes to get creative and produce campaigns that are effective in getting the attention of your target audiences. 2020 Trends in Financial Services Marketing There are more ways to reach consumers, or your potential clients, than ever before. While these are similar to your explainer videos, how-to videos go more in-depth with step by step instructions. Only does Alex have a 255k following, but it can highlight what you do, we... Be hugely beneficial for financial businesses to invest in video marketing stats show that audiences and! Decide to create any video content is certainly not something to be fully embraced by financial services and should. 5 Big trends Impacting financial marketing topic that can be testimonials with current who... Have dived right into the creative pool search to allow customers to engage with your products or services warp.! Because they dug deeper and found out what was really … the 2020 Election also Plays a.! Other banks are doing no business would want that to ever happen to them sharing helpful! Never be a static document remember is to allow Nationwide to highlight how are... With audiences because these financial ads feature people who are happy with your products or services ’ ll see Big... Their advertising campaigns ( @ charlottejacklin ) on Jan 8, 2020 Featured, Retail and marketing prompting a guide! Models accordingly deciding to create any video content is to stay relevant as as... You can even get inspired by Deloitte that created a “ back to School each September Now to! Create any video content from brands while some are new trends altogether provide audiences with their knowledge the way interact. 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