— Increase sales
Increase online sales in finance
B2B & Financial experts offering clients effective options to increase online sales by converting more visitors into customers. Using design methodology that helps build trust, understanding and promotes brand awareness and confidence.
Audio 8.14 Minutes
Effective Digital Marketing for the Finance Industry
The Great Depression of the 1920’s and 30’s… the financial impact of the second world war…. Black Monday in 1987… the 2008 credit crunch… and now Covid 19 in 2020. Arguably, you could say that despite the desperate times that have gone before, the financial sector has never been more important than right now, especially if you consider that we have the highest population we’ve ever seen.
Government borrowing hit a record £55 billion in May, the highest monthly figure on record. Thousands of businesses have been forced to stop trading, while thousands of others are in dire trouble and struggling to survive. Sales are down, redundancies are high, and public spending is reduced.
Travel and holiday destination businesses have been particularly hard hit, and it’s almost impossible to see that many of these will live beyond the end of the calendar year. The same can be said for many restaurants and cafés.
While this obviously disrupts the lives of many, certain industries can thrive during periods of economic change or uncertainty, and there is certainly opportunity to be found within the finance industry.
Business loans are abound this year, as companies look to stay afloat and pay their suppliers. They’re also planning ahead to cover the cost of employees’ salaries once furlough finishes. A lot of these are to be backed by the Government, which makes them more prevalent.
Savings accounts are, at least, maintaining their popularity as people look to close their purse strings in order to ride the storm. Despite low savings rates, people are shopping around to find the best return on their capital. A little extra can go a long way when it needs to.
Demand for mortgages took a nosedive in the first two months of lockdown, but has now bounced back with a vengeance. The only difference is that many mortgage lenders are asking for a 15% deposit rather than 5%, but this hasn’t put much of a dent in the volume of people still applying. As lockdown eases, the pent-up demand to move house and subsequently the need for a mortgage has increased very quickly.
FAQS – Frequently Asked Finance Questions
What does finance actually mean?
Finance essentially represents the management of money and the process of requiring funds.
What are the four main types of loans?
The four main types of loans are fixed-rate loans, variable-rate loans, secured-personal loans and unsecured personal loans.
How can finance firms rank on Google?
Finance is one of the most competitive markets in search engines, so it’s vital that you are using an appropriate SEO strategy to successfully boost your search rankings. This is particularly important during the current climate because finance is at the forefront of everyone’s mind.
Who is the largest financial service company?
Berkshire Hathaway is the largest service company in the world.
Why is marketing important for financial companies?
Digital marketing has majorly transferred the way businesses advertise and subsequently led to a lot of success, not excluding the financial companies. Digital marketing can significantly increase customer attraction, increase website traffic, customer engagement and conversion rates and much more.
How Can Finance Companies Take Advantage?
Social Listening – There are tools available to find out what people are saying on social media. Listening to comments can help you to revise your service offering, or to understand what people are talking about most, in order to prioritise the promotion of a certain product.
Google Trends – can also tell you what search requests are trending. Here you can review types of mortgages or savings accounts that people are searching for the most. This can help drive your marketing campaign in order that it focuses on the right products at the right time, to the right people.
Review Your Website – what does your customer journey through the site look like? We’ve seen a localised building society try to promote a company anniversary, but send their traffic to a page where the anniversary product is hidden on a page containing many other products. Even if you do happen to find it, clicking on the image leads to a page talking about general savings accounts! The key takeaway here is to follow the existing paths on your website, and think about – as a potential customer – whether this is encouraging you to make contact, or if you can find out all the product details easily.
Engage With Your Existing Customers – who better to approach to find out what people are saying than your loyal customer base? If you have a good social media following, why not pose a question and gather some feedback. This should be where you can find your most engaged audience, so try to encourage as much interaction as possible. You could perhaps think about offering a financial incentive for doing this. Regardless as to whether you use Facebook, LinkedIn, Twitter or something else, you’re well within your rights to do this on any social media platform. Chances are, your customers will thank you for the opportunity of having their voice heard, with the opportunity to make a difference. There’s a positive by-product to this as well, in the form of customer retention.
Monitor Your Customer Reviews – if business is slow right now, then it’s a good time to catch up on any reviews that have been left for you, whether on your Google profile, or social media, or third party review websites such as TrustPilot or Reevoo. Good reviews or bad reviews, they’re all worthy of responding to. Turn any negative comments and ratings into a positive, by leaving professional feedback that empathises and promises to solve an issue.
Blog writing – there’s no better time than during a crisis, to write an article about how to get through it. There’s plenty to be going at, whether it’s looking for the best business loan, how to deal with redundancies, or consolidating your finances. Whereas there will already be a lot of information on these topics already, simply mentioning “crisis” or “Covid 19” in the title will flag to Google and Bing that your article is topical, which means it has more chance of being found in the search results.
Brand awareness can also be created using these blog posts, as you’ll be promoting them on your social media channels. Use a search engine to find out which are the best “power words” when trying to entice somebody to click on your links.
Email Marketing is a cost effective way of reaching your target audience – as long as you’ve curated a good volume of emails, of course! Keep people informed as to any changes within your business, or with any products, and you’ll be at the forefront of their minds at the point at which they’re ready to engage.
Review Your Competitors’ Marketing Output – plunder their social media accounts, and sign up to their emails and newsletters, in order to find out what they’re promoting, and how they are approaching it. What is their tone of voice? Are they showing that they are listening to their intended audience? What promotions are they offering? How are they using images within their marketing messages? All of this isvalid information gathering, and you can use what you consider to be the best parts, and respin it into a new and personalised message of your own.
Generate better leads – the benefits of actioning points 1 through 9 above, means that you should be able to receive enquiries from people who have a higher level of intent to buy from you, or engage with your services. When you have lower business volumes, but a higher rate of conversion, this can offset the issue of reaching more people in order to win more business. This makes your marketing so much more cost efficient.
Growthlytics – Experts In Marketing For The Financial Sector
So perhaps you’re wondering how Growthlytics can help? Or perhaps not, if you already read these top 10 marketing tips! However, there’s so much more involved when marketing for the financial sector. We understand that GDPR is a huge consideration, and we’re more than familiar working within a regulated environment. This is where we stand out from much of our own competition. Years of experience working with some big local brands has allowed us to keep our finger on the pulse. From building societies to business loan companies, we’ve covered a wide spectrum of businesses, and we have the data to help us understand where your marketing budget would be best applied.
We’ll offer you a free consultation to help to determine how best to approach your marketing efforts, time, and budget. This comes in the form of brand awareness, social media marketing, search engine optimisation (SEO), article writing, pay-per-click advertising (PPC), email marketing, YouTube advertising, and remarketing. Not forgetting of course, Conversion Rate Optimisation.
If you’d like to hear more about what we offer and how you can grow your business, even during this time of crisis, give our team an email at your earliest convenience at email@example.com. We’re ready to listen to your requirements, and translate them into powerful online strategies.
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