Consumers are starting, and sometimes completing, their research of financial products and services online. Online is the least committed place for consumers to start researching their options in what they feel is a non-biased platform that they can control. Online is just easier: good, bad or indifferent. It is easier to get a visitor to click on an advertisement online and learn about your bank versus getting them to visit you in one of your branches. However, it is a lot easier for them to leave a website than to walk out on a face-to-face interaction with one of your representatives.
There are many tactical executions that work to get your bank in front of the consumers. Search is a place where users can find us, and Social Media is a place that you can nurture that relationship until they are ready to purchase and establish your bank as a thought leader. There are many reasons that digital marketing for banks is a great component of any marketing plan. We have listed our top 10 below:
- Search engine optimization (“SEO”) can lead non-branded traffic to your website
- Paid search efforts, such as buying very specific keywords in specific markets, can ensure that your bank shows up in relevant searches
- Email marketing and a strong Social Media presence can position you as thought leader
- Social Media can also demonstrates your brand personality
- Social Media allows you to engage your prospects directly and demonstrate your customer service
- Behavioral targeting gets your brand in front of exactly the right people
- Search retargeting shows your display ads to those looking for content relevant to your offering (i.e., searching for mortgage info/rates)
- Websites can demo products for prospects
- Capture new lead contact information via submission forms
- Consumers shop and compare your offering online; be where they’re looking and be consistent in your online and traditional messaging
Financial services and products can be daunting to the everyday consumer. They can never fully understand all of their options and which options are best for them based on countless factors. At the end of the day, that’s why online will never replace the face-to-face interaction of a trusted financial partner. Digital marketing is simply a piece of what needs to be an overall marketing plan to attract new customers and retain your existing customer base.