Marketing performance strategies for the banking sector
As the year 2018 starts, you need to accept that digital marketing is one of the most used marketing techniques, regardless of whether it is used by a startup or a well-established global brand. Specially, because the days fly by on the calendar and the time has come not to lose any more time.
In this case, we will talk about a sector that, even though it is not much talked about, is interesting to analyze. Are you familiar with all the performance marketing strategies that exist for the banking sector? Do you know how they work?
The power of the Internet has covered all kinds of industries to carry them into the digital era. However, performance marketing strategies for the banking sector have remained in the background.
Does this mean that banks and financial organizations are not including the digital revolution into their budgets? Do they correctly take advantage of the power of technology?
It is clear that it is always possible to obtain more from it, although there are any who have already set to it.
Marketing in the banking sector
When you think about banks and the advertising they make, you surely believe that characteristics such as innovation or modernity are usually absent.
However, the reality is different.
Banks such as ING, Evo Bank or Self Bank are some examples of performance marketing strategies for the banking sector that you should consider.
The user has changed. Now, he is not only a client, but he should be a friend, someone who collaborates with the bank and determines its future.
As stated by the BigBank España Marketing Director, Francisco Rodríguez Kleiber, the banking sector is no longer before a subject that buys what he can find. Now, the subject makes decisions and chooses the brand that treats him with respect and provides products or services that offer real value.
Because of this, any of the marketing performance strategies for the banking sector should have the following clearly in mind:
- During the recruitment phase, the customer cannot b pushed to go to you. It is necessary to seduce the customer so that he decides to come to you.
- The product is the king. The user must solve all his doubts by means of the content and a clean and complete user experience.
- The target expands and diversifies. Of course, each segment cannot be treated in the same way.
But how are performance marketing strategies applied to the banking sector? How do the new communication patterns influence this sector? How are the trends in digital marketing applied? Do they make advertising less intrusive?
Marketing performance strategies for the banking sector
1.- Inbound marketing
Today, something that all professional marketers agree on is that today’s consumer is an active, critical and intelligent consumer, who interacts with his favorite suppliers and brands, and who also generates opinion and creates trends. The consumer becomes a Prosumer.
In fact, if we analyze the study “The State of Inbound Marketing,” it is possible to see how this strategy becomes the main source of lead generation for 50% of companies.
Inbound Marketing has appeared to provide answers to every change in the consumer’s behavior. As we already mentioned at the beginning, today’s customer is not a passive receiver, he does not belong to the masses. What the customer asks for more and more is to meet the brand in a natural way, interact with it freely and without interruptions, and above all, receiving valuable information.
Inbound Marketing is a strategy that combines SEO positioning trends in social networks, blogging, content marketing and marketing automation to attract the consumer by offering valuable content and experiences without overwhelming him with ads.
2.- Content marketing
Content stands out something stands out among performance marketing strategies for the banking sector. The way of telling stories has changed and the channels to get those messages across too.
Social networks play the role of a very important scenario to obtain immediate feedback. They generate conversations in real time without the need of working around restrictions such as schedules.
But what marketing performance strategies are applied today for the banking sector?
More and more companies are becoming aware of how important it is to have a blog. In fact, as pointed out by the Content Marketing Study in Latin America and Spain, only 15% of companies are not aware of this phenomenon.
One of the first priorities of the companies is to achieve more visibility. And for that, SEO positioning is very important.
Achieving a good positioning in search engines in an organic way depends on your content marketing. In this case, the creation and optimization of a blog is essential.
One of the clearest examples of performance marketing strategies for the banking sector is that of ING Direct. Its section “In Orange” creates a personalized spaces to explain economic concepts and thus, help savers.
We are not talking about its business anymore. The site helps the values of the brand materialize, in addition to helping to the SEO positioning. Thus, when someone has a doubt regarding an economic concept, ING may be the one to solve it.
3.- The value of generating trust
In this case, Bankia works to achieve a “reconciliation” with society. And for this, it must work hard on its communication strategy.
In this case, it has chosen to present stories with name and surname. It is known that testimonies always help to generate credibility and trust. But using real data to capture visually what your company is capable of achieving will have a greater impact on the user.
Having this in mind, the proposal “To wind up the economy” consists of presenting real cases of business projects financed by the bank itself.
Is there anything better than using the success stories of your clients to create a connection with new clients?
4.- Social networks
As pointed out by Amalia Blanco, General Director of Communication and External Relations of Bankia, it is essential to know everything that happens in our surroundings.
In this particular case, the company tries to be present and stay active in social networks, which automatically forces the brand to listen to the users.
It is about answering each and every one of the issues that arise in networks. For this, Bankia has launch a blog where it approaches its potential public by means of different content.
All this is done to restore confidence. And that is not the only thing. By using the hashtag #SigamosTrabajando (#LetsKeepWorking), it is also gaining visibility on social networks. “Easy things do not push us to overcome them in order to demonstrate what we are capable of. And yes, deserving your trust will not be an easy task, but we only know one way to achieve it.”
5.- The power of storytelling
The following example comes from an Indian bank, but it will help you understand what types of performance marketing strategies for the banking sector exist and how they can be applied.
ICIC took advantage of the Indian female population through the #FundYourOwnGrowth campaign.
The campaign focused on encouraging women to invest in themselves and not be bound by society standards. Women from across the subcontinent have had the opportunity to enroll in the Fund Your Own Growth program and open a “woman’s account” to enjoy irresistible offers and benefits.
The web obtained a lot of traffic, but what really captivated the audience were the inspiring stories of real women.
The campaign also included a 2-minute advertising video with Indian actress Konkana Sen Sharma. The video was broadcasted on all major digital video platforms, including YouTube.
6.- It is possible to generate engagement with drip marketing
Email marketing is one of the most powerful performance marketing strategies for the banking sector, especially if you work with the best practices and personalized messages.
Having the ability to reach potential customers by means of personalized offers and packages will almost certainly increase conversions.
For example, imagine that a user has visited your website and he has shown interest in your services by subscribing to your newsletter. You should know that you can nurture that relationship through periodic offers.
In addition to lead nurturing, drip marketing campaigns are very effective to close incomplete transactions. For example, if a user has clicked on one of your financial programs or he is in the middle of a transaction but cannot complete the task, your digital team can guide him using follow-up emails.
After this review of some performance marketing strategies for the banking sector, you probably already know how to channel your budgets and strategies for this year. But if that is not the case, you can always reach the best professionals to help you.
Do you need a company specialized in performance marketing for the banking sector?
At Antevenio Go, we are specialists in strategic marketing performance and have extensive experience in the banking sector. If you want to optimize your digital campaigns and be up to date with the latest trends, you will be able to do it with our help. You can contact us here to receive information about the services we can offer to your brand.