Banking institutions are seeing new trends in the way they market digitally.
Digital marketing trends are changing the ways banks look at their marketing efforts. To stay relevant in our technological age, it is imperative that financial institutions keep up with emerging technology and marketing trends.
Digital marketing is always expanding and trends are constantly changing. When it comes to digital marketing trends in banking, it is important for financial institutions to keep up. Banking institutions are having to become more digitally inclined to attract younger generations and keeping up-to-date with trends is the best way to do that.
Digital Marketing Trends in Banking 2018
- Cross-Departmental Integration
- Omni-Channel Measurement
- Marketing ROI
- Digital & Data Specialists
- Content Creation
- Data Integration
- Predictive Analytics
- Machine Learning
- Data-Driven Personalization
- Chatbots
- Voice Search
- Digital Assistants
- Micro-Moments
- Video Advertising
- Catering to Gen Z
As with any successful organization, it is imperative for financial institutions to have all departments working together toward a shared goal: enhancing customer experience. Customers have a plethora of options when it comes to banking needs, so companies need to put the customer first if they wish to succeed. Digital channels have redefined everyone’s expectations for marketing accountability with everything being able to be tracked now and every action being able to be quantified.
A successful marketing manager will connect this data together into a cohesive customer journey. One of the more recent trends in banking is catering to Gen Z. Generation Z is an outspoken generation that doesn’t take no for an answer. If a financial institution doesn’t offer them what they seek, they will look until they find one that does. Generation Z is highly technological so it is imperative for banking institutions to keep up with their wants and needs.
5 Digital Marketing Strategies for Banks
- Search Engine Optimization (SEO)
- Content Marketing
- Digital Advertising
- Email Newsletters
- Mobile Friendly Websites
Search engine optimization is important for all types of companies, not just financial institutions. The main point of SEO is to be there when people are looking for you. Without proper SEO strategies in place, people will find a banking institutions competitors’ before they find them. Digital advertising is necessary for our technology-driven world so any company not participating in this practice is missing out. Digital ads can take many forms from native ads to banner ads and they work wonderfully. Digital ads allow companies to personalize the message their different audiences see and collect important data about a company’s customers. It is also easier to know how a digital advertising campaign is doing with the data they provide. One of the latest trends in banking technology is making banking websites friendly for mobile users. It does not take long to encrypt a website to be mobile friendly but it makes a world of difference to customers.
5 Fintech Trends to Look for in 2018
- Diverse Cryptocurrencies
- Blockchain
- Nzar Field Communication (NFC)
- Increased Regulation
- More Financial Firms
Cryptocurrencies like Bitcoin have been around for years but recently, they have begun to diversify with new cryptocurrencies being added to the market. As cryptocurrencies begin to be used more and more, it is safe to speculate that they may be the primary currency we all use one day. Until then, though, it is important for banking institutions to stay up-to-date with the most recent cryptocurrencies being added to the market and be aware of merchants trying to make a fast buck off unsuspecting investors. NFC is already being used in many countries with the help of smartphones and wearable devices. NFC is quickly becoming a way people are paying for merchandise, especially as more wearable fintech products enter the market. Regulations are constantly being updated with the new ways we are banking. It is necessary for financial institutions to stay up-to-date with these regulations in their own countries and abroad to avoid fines and penalties.
Digital marketing is changing the way companies look at marketing in every industry. When it comes to the banking industry, it is mandatory that companies keep up with trends and always provide what their customers want. With the increasing number of financial firms, those that cannot keep up with trends or provide their customers with the benefits they desire will cease to exist.
