You guessed it! Four Marketing Trends to Prepare for in 2021 on December 15, 2020 Featured, Retail and Marketing. In their 2018 Data Analytics in the Financial Services Industry report, PwC explains how analytics can power financial service businesses. Without a doubt, marketing has emerged and evolved as an indispensable element for stirring the right conversations that are more customer-centric. Her task was to write down everything she spent over 12 days during the Christmas period to track her spending. Not only does Alex have a 255k following, but she also engages regularly with her followers about money and spending. The 2020 Election Also Plays A Role. 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. Even today, Nationwide is still running this campaign, adapting their current ones to the COVID-19 pandemic with poets recording themselves at home. You might decide to run an event or create a pop up to get customers to engage with you. You might even decide to create some how-to videos which illustrate how customers can use your services. However, other methods aren’t to be overlooked, including white papers, reports, eBooks, even questionnaires that can be a form of content marketing. You might even decide to create some how-to videos which illustrate how customers can use your services. Siri and Alexa are the most famous voice-search enabled virtual assistants that we have today among many others. The aim of this video is to allow Nationwide to highlight how they are helping their members during the pandemic to secure their futures. Thank you for sharing these helpful key trends, Ana. You can even try developing your own Alexa skills or hire someone to do it for you. In recent years, both augmented reality (AR) and virtual reality (VR) have become massively popular and are emerging as top trends in marketing. This report highlights how analytics is already being used within the financial sector and how it can improve your business. Subscribe Now Get The Financial Brand Newsletter for FREE - Sign Up Now. Not being afraid to stand out, goes a long way in digital marketing, especially in financial marketing services, where connecting with audiences is hard. In 2020, look for more IBDs to follow the example of hybrid RIA firms like Kestra Private Wealth Services and Private Advisor Group by providing separate channels for wirehouse breakaways. That’s where digital marketing for financial services come into play. Here’s Capital One showcasing their cafes and the reasoning behind the initiative. The Financial Forecasting Software market report, added by Market Study Report, LLC, descriptively covers the present & future growth trends, in addition to highlighting the global expanse of this industry and elaborating the regional share and contribution of each region of the Financial … 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 … As far as megatrends are concerned, the following should be considered in the future deployment of financial marketing … 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. Considering millennials are a significantly large proportion of the current workforce, that’s a lot of people to need to get onside. 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. It’s all about connecting your prospects to your marketing department for more personalized questions. There are multiple ways of using video to connect with your audience, starting with explainer videos. Shoppable posts are yet to be fully embraced by financial services, but we could start to see limited products filter onto social. 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. ... so investors must stay on top of these trends. 1. Her task was to write down everything she spent over 12 days during the Christmas period to track her spending. 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. 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. The critical thing to remember about deciding to create any video content is to ensure that the material is of high quality. The post-crisis regulatory frameworks have been gradually settling into place, and financial institutions have been adjusting their business models accordingly. This will give your customers a different avenue and way of experiencing your services. 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. 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. Working with influencers isn’t all that different and can open up an avenue for financial businesses to connect with younger and harder to reach audiences. It's imperative to adapt and evolve with new marketing trends to stay competitive and … Single. Live video has been growing in popularity in the financial … ^ The Ultimate Guide to Marketing Trends in 2020 ^ Q3 2018 Digital Advertising Benchmark Report ^ 10 Undeniable Reasons Customer Service Is Important to Your Business ^ Chatbot Market Size Worth $1.25 Billion By 2025 ^ 80% of businesses want chatbots by 2020 ^ What is Influencer Marketing: An in Depth Look at Marketing… While these are similar to your explainer videos, how-to videos go more in-depth with step by step instructions. Another type of video can be testimonials with current clients who are happy with your products or services. Another type of video can be testimonials with current clients who are happy with your products or services. … 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. October 21, 2020. 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. just for small businesses, provides its audience with tips and insights on how to grow their client list and better engage with their consumers. 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. 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. Customers expect instant results as well as instant answers to their questions. 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. Digital channels, social platforms and targeting capabilities are growing at a … Currently, companies that are working with influencers tend to be digitally focused and collaborate with them on bigger campaigns. It’s completely different from everything else other banks are doing. Address your key customer concerns so they know you also care about what troubles them. Video content is certainly not something to be overlooked. This addition to the report strengthens the message that Deloitte cares and is there to listen. While you likely have a financial content marketing strategy in place, it should never be a static document. These types of videos can inspire your audience as well as encourage them to engage with you. This content does not necessarily need to advertise what you do, but it can highlight what you do. 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. 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. Starling is an example of how financial businesses can use an exponentially growing market to expand their audience as well as products and services. 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. Tides of change for financial marketers have been rising in technology, talent, data usage, analytics and image-building. Looking at advertising alone, these eMarketer predictions show how the duopoly of Facebook and Google dominate paid media investments online, although offline media buys remain important for many larger brands.alfred Trend … Screenshot from PwC Data Analytics in the Financial Services Industry report. After all, offline interaction with customers is just as imperative for building trust and excellent customer experiences. Then came the pandemic, closing many branches practically overnight and limiting most customers to online banking. The Top Marketing Trends You Need to Adopt in 2020 Marketing continues to evolve at warp speed. 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. don’t trust ads from traditional media campaigns? Chatbots enhance the user’s experience with your brand and that will encourage them to keep coming back. You’ll see a big push for this in 2020. A post shared by Charlotte Jacklin (@charlottejacklin), 10 LinkedIn Background Photo Tips That Will Make Your Profile Stand Out, 11 Marketers Reveal Their Best Tips on Being Creative and Productive During Winter. Unlike during the financial crisis, the banking … Often businesses use articles and blogs to provide audiences with their knowledge. “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. 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. Discover how emerging trends are set to impact the financial services landscape in 2020. 2020 Trends in Financial Services Marketing There are more ways to reach consumers, or your potential clients, than ever before. Time wasted is money wasted and a prospect lost. 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. 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. The report even includes the contact details for Rodney Sides, the Vice-chairman of Deloitte, and Stephen Rogers, Executive director. Because they dug deeper and found out what was really … This report published data on how families in the US spend their money when children go back to school each September. You can use the skill to provide general information or specific account information to your customers. 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. 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. 2020 Marketing Trends for the Financial Services Industry. 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. Content Marketing Au contraire to the Lead bot, support bots are more of a virtual guide for your customers. 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. Everything has to be instant now. It is yet to be seen the duration of these changes, but each deserves a careful review. This goes to show that there is a lot of value for financial businesses to invest in video marketing. Digital bank, Starling, launched its #FeelGoodAboutMoney hashtag to get people to think about their attitudes towards money and spending. 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. 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. Judy Caroll February 21, 2020. Our global report Financial services technology 2020 and beyond: Embracing disruption examines the forces that are disrupting the role, structure, and competitive environment for financial institutions and the markets and societies in which they operate. Try integrating the power of segmenting customers (banking, savings, investments, etc.) “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. The world is continuously changing, and with it, the way customers interact with businesses. On the other hand, some banking companies have taken several steps more forward and truly thought out of the box. 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. One of the critical things to remember is to stay true to your brand and message. Here are some of the current trends financial services and advisors should be paying attention to. 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.”. The second blog of our digital marketing trends in 2020 series examines another all-important aspect of your marketing – the audience! By working with My Frugal Year, they can make use of her 60.5k followers who are already interested in financial content. In 2020, we can see the huge impact that digital marketing has had over the last decade, and more. Data Analytics in the Financial Services Industry. They can message their queries through the app, schedule appointments, check their deposit balance, etc. We look at the three financial content marketing trends you need to master by 2020. 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. Considering millennials are a significantly large proportion of the current workforce, that’s a lot of people to need to get onside. In fact, many financial companies have already jumped on to this already. While these features are essential, it’s all too easy to forget about developing your offline methods of marketing. While on the subject of AI, it offers key ‘Audience Insights’ which can transform the way a finance company can communicate and engage with their customers in ways such as learning to understand buyer persona and demographics. For Natwest, this was extremely beneficial. Banks and credit unions will … Your comment may not appear immediately. Working on a few campaigns that adopt some of these current trends can easily change the course of your business and how customers engage with you. ... experienced commercial success during the 2007 Global Financial Crisis. 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. The longer it takes for a transaction to go through and finish, the more off-putting it becomes. 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. That is not the case anymore today. Every. Some companies are combining offline and online experiences to stay relevant as well as keeping communication across multiple platforms. 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. Time. From increased accessibility to broadening … Did you know that 84% of millennials don’t trust ads from traditional media campaigns? By Ryma Chikhoune on December 20, 2020 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 financial services, you might be wondering how this could work, but there are loads of ideas out there, you just need to be bold. In the midst of it all, keeping up to date with trends should also be part of your agenda. While these are similar to your explainer videos, how-to videos go more in-depth with step by step instructions. And if that wasn’t shocking enough. Companies like MasterCard have been working with celebrities for years on their advertising campaigns. These fintech trends … This site uses Akismet to reduce spam. A cup of coffee. 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. Content marketing: By 2020, we expect to see more use of content marketing, from financial education to product demonstrations and advisory messaging. 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. Artificial intelligence is definitely a trending financial marketing topic that can be hugely beneficial for your business in multiple ways, including analytics. No bank or credit union marketer has the luxury of ignoring these landscape-altering trends … In recent years, financial services and advisors have all grown their online presence to cater to modern audiences. While the uptake of voice-powered search in the finance sector isn’t broad right now, that doesn’t mean it won’t be in the future. 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. 5 Big Trends Impacting Financial Marketing Strategies in 2020. 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. 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. 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. 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. Here are some of the current trends financial services and advisors should be paying attention to. In doing so, you can stay current and get in front of the right people. 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. 30 seconds to two-minute videos can be really impactful in getting potential customers to engage with your business. 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