Marketing and Technology Trends are Forcing Change for Financial Institutions

by Nik Wahlberg | October 19 2017

There is no argument that the rapid advancement of technology has changed not only how society interacts, but how businesses transact with customers. There are trends in consumer tech use that The Financial Brand is suggesting you can use to get ahead as others in this space are falling behind. They list:

  1. Social media participation
  2. Video creation
  3. Promoted content
  4. Connect to customers socially
  5. Respond quickly to social media complaints

We agree that there is still a tendency on the part of FIs to shy away from social media. There is a misperception that it’s complicated, non-compliant or not worth the effort. While it does take some planning, it is worth the effort. Staying connected with customers strengthens your relationship with them. While there is not always a direct correlation between social media participation and lead generation, the part of that conversation that is often overlooked is the repeat and referral opportunities that come from strong relationships with your existing customer base. Social media is a way to reach them where most adults are already spending time every day.

Video is one to truly consider. It can be used on your site and repurposed for use on your social profiles. It significantly increases your chances for engagement and sharing. Try a holiday video, or a small series on tips or tricks. Start simple and see how to leverage this type of media to maximize your visibility.

Consider incorporating some of these ideas into your marketing plan for next year so you don’t miss your opportunity to stand out from your competitors. Read the full Financial Brand article here.

All Insights