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It is more affordable for financial service providers to use digital marketing to grow their businesses. They can use digital marketing to educate their customers, provide information on their services, build customer confidence, and expand brand awareness.
The following are 4 proven digital marketing strategies from Stormlikes for financial service providers:
- Customer reviews
- SEO
- Email Marketing
- Content marketing
1. Content Marketing
Financial services intimidate and confuse most people, especially people who are new in the industry. A lot of millennials do not even understand the basic investment practices, including stocks. It is, therefore, difficult for most people to trust what they cannot understand.
Financial service providers can, therefore, use content marketing to solve this problem. They can create useful and informative content.
You can answer the questions of your target audience. Creating useful content can build your trust.
A lot of people are more likely to trust you because you have useful content. You can use content marketing to get more leads and connect with your customers. FInd out more about connecting with your audience at Storm Likes.
However, many financial service providers do not produce readable content. According to a 2018 study, banks produce content, but it is difficult for an average person to understand this content. In fact, the content of these banks does not perform since they are hard to understand.
Therefore, make sure an average person can understand your content. Write your content for people with 7th to 8th-grade reading levels. To better understand this, The Hunger Games, The Hobbit, To Kill a Mockingbird are written for people with 8th-grade reading levels.
Here is how to make sure the general audience can consume your content:
- Use active voice
- Do not use complex words and jargon. If you must use them, define these words to ensure an average person can understand them
- Use descriptive headers
- Keep your sentences short
- Break up your content into short paragraphs
You can use other forms of content to share information with your audience. For instance, you can use podcasts and videos since some people love audiovisual content.
2. Email Marketing
Email marketing is a great digital marketing strategy for any business. It is, however, more essential for financial service providers. They can use email marketing to communicate with their customers. Consistent communication can help them build strong relationships with their customers.
In addition, they can contact their customers to keep them informed about their services. This can increase their customer lifetime value (CLV).
Financial service providers can use email marketing to:
- Verify transactions to enhance security
- Send updates and deliver documents to help their customers get their financial information
- Help their customers make informed financial decisions
- Educate their customers about their services
- Financial service providers can use email marketing to help their customers relieve their financial stress.
One of the most causes of stress in the lives of most Americans is finances. Therefore, financial service providers can use their email campaigns to provide useful information and support their customers.
Here is how to engage email marketing subscribers:
- Segment your audience
- Write catchy subject lines
- Personalize your email content
- Use color and images
- Add call-to-actions
Financial service providers can use email marketing to build their brand and increase their conversion rates.
3. Search Engine Optimization
It is beneficial for financial service providers to build trust with their target audience. So, ranking your content on top of the search results can build trust with your target audience.
You can, therefore, use search engine optimization (SEO) to generate free organic traffic. The click-through rate of the organic search results on the front page of Google is around 77%. However, the click-through rate of PPC ads is around 3%.
SEO can help you build trust since people trust their favorite search engine to provide better answers to their questions. It is, however, difficult for people to trust ads.
It is, however, tricky for small business to rank their websites since the top banks and companies dominate the market. Do not compete for the competitive keywords. It is much better to focus on the local keywords.
For instance, you can claim and fill out Google My Business profile for your business. Optimize your profile for local search to generate organic traffic to your business.
Remember to add your business to the local directory listings. Use the same contact information on multiple listings on the internet.
4. Customer Reviews
Business owners and people are very cautious when it comes to finances. It is always risky to bring on a new partner. They, therefore, do proper research before choosing a new partner.
Potential customers read online reviews before hiring a potential vendor. Customers usually write these reviews. That is why a lot of people trust them. They can read them to make an informed decision.
Having positive reviews can help financial service providers appear trustworthy. It is, therefore, much easier for most people to choose them. You can ask your current customers to write reviews. If you have happy customers, they are more likely to write good reviews about your services.
