With an expected growth of $13.9 billion by 2025 and the number of users regularly using mobile payments and online banking options on the rise, digital banks and financial services are on the brink of incredible growth. . But only if they attract these new digital customers to their services before the competition. As individuals of all age brackets turn to digital banking for their financial needs, it is only by implementing digital and multi-channel marketing strategies that financial institutions can capture a greater portion of market share. What is multi-channel marketing? Multi-channel marketing involves building strong relationships with new and existing customers across various marketing channels and mediums, such as social media, blog posts, email, podcasts, pay-per-click (PPC) advertising , etc By being present in multiple channels, a brand or business can create multiple touchpoints for customers, meeting them on their preferred channel with the right message at the right time.
A tax consultant, for example, could use a mix of content marketing, PPC ads, and local broadcasting to promote a special tax season discount on their tax filing services. A mortgage loan officer could combine direct mail and social media to reach customers in a certain geographic area, encouraging them to call a trackable phone number to inquire about a special APR rate for certain customers. This multi-channel approach enables financial service providers to build brand awareness while reaching customers who rely on different media channels for information. Plus, it keeps vendors front and center as customers move between channels multiple times a day.
Check out these five high-performing channels you can combine for your financial services marketing campaigns. 5 Most Effective Channels for Financial Services Marketing social media Social media platforms present the best opportunities for your financial services marketing campaigns, with Facebook, YouTube and Instagram as the most popular social media channels in the United States. social media Source: Statista With 72.3% of the US population spending an average of 127 minutes a day browsing social media, these channels make it easy to quickly build relationships and build trust with a large audience. Chime, an online-only bank, uses Facebook to promote content that helps its followers better understand and manage money.