Three marketing channels to try in 2016

financial services marketing channels

Kem Etele

Senior Account Manager

Posted on August 1, 2016

Thanks to the unstoppable rise of social media, video and mobile activity, we as marketers have to acknowledge that digital technology now plays a major role in what influences us most.

Learning how best to use that influence to promote financial services is a daunting prospect. Whatever your marketing approach, we can all agree that the days when the financial sector could rely only on traditional marketing channels are long gone.

The challenge is on for marketers to embrace innovation. Exploring new ways to communicate with prospects and customers is the only way to keep your brand current and stay ahead of the competition.

Here are three key areas to focus on:

1. Mobile

Millennials admit to checking their mobile phones an average of 64 times each day. Couple that with the fact that a third of all consumers now use mobile banking on a regular basis, and there’s a great opportunity.

It is vital not to underestimate how fast this channel is still evolving and how many different ways it can be utilised, both for a B2B and B2C market.

Mobile apps can be used in a vastly diverse number of ways and account for over 86% of time spent on smartphones. Easier to access and faster than websites, there are now apps to follow the investment market, find the right mortgages, and to perform quotes on insurance, as well as the more obvious mobile banking apps that let you manage your finances.

With advancements in HTML coding language, developing apps may be cheaper and easier than you think. Check out our guide to app development to find out what could be achievable for your business.

Mobile ad campaigns are well worth consideration, receiving a higher percentage of clicks to conversions than more traditional formats.

Likewise, mobile optimised emails are increasingly becoming worth the planning and time. With over 55% of emails opened on a mobile device, optimised emails are how you can ensure your customers get the very best branded communication experience.

2. Social

The millennial generation is now three times more likely to talk about a brand on social media. How could you make the most of that?

Until recently, the financial sector has lagged behind other industries in the adoption of social channels and technology. However, as the rise of Financial Technology (FinTech) increasingly makes financial systems much more accessible, the potential and adoption of social is growing too.

Adopting a test and learn approach using software such as HubSpot now offers a quantifiable way to explore social, making it easy to test, track and post campaigns through various social channels all under the one platform. Adopting better segmentation and using real-time marketing tools is the key to wielding social well, allowing you to adapt and evolve far more quickly within this ever-changing environment.

3. Video

Video marketing is all set to become the future star of content marketing. According to a report by Video Statistic, 74% of all consumer internet traffic will be video in 2017.

There’s a reason video is being embraced so wholeheartedly: it’s because as an engagement medium, it simply can’t be beaten. The average person can retain up to 95% of video content after 72 hours, as opposed to only 10% of text read or 65% of an image seen.

Knowing these results are possible, it’s high time that the financial sector better explored how it could best integrate video into its marketing strategy effectively.

How about the following for some ideas to get you started?

Video cards and brochures are a unique form of high-impact marketing. They provide visuals and audio as a personalised message, packaged in a fully branded gift box and accessible to view even without access to the internet.

YouTube has often been overlooked by the financial sector, but with over 85% of adults admitting to being regular YouTubers, maybe it’s time to adopt a different attitude.

With a captive audience waiting, include these elements to maximise your chance of success:

  • Fully optimise your videos for search and clicks, just as you would for any other form of content marketing.
  • Carefully consider the type of video you want to create and the desired action you want the viewer to take after watching. This could result in animations, tutorials, product demos, promotional adverts or webinars.
  • Keep it short and punchy, ideally no more than 2 minutes long, with the exception of webinars.

In summary

Innovation is daunting, but it’s worth it. Audiences are evolving across the board and financial markets are no exception. Now is the ideal time to start experimenting with new marketing channels, testing and refining as you go.

Be brave. And let us know if we can help.