Before we tell you about inbound marketing,let’s first see what traditional or outbound marketing does.
In a nutshell, outbound marketing interrupts the consumer by pushing and promoting messages in his or her face. The key is to get the consumer’s attention, and this is carried out via the traditional means of print and TV ads, radio spots, hoardings, and so on.
Outbound marketing certainly plays a role. Over the years, it has built a host of powerful products and services.
But times are changing now. There is a digital transformation underway, and this is where inbound marketing comes in, as it’s quite different from outbound marketing.
This is because inbound marketing depends on creating content and experiences that customers want to seek out. Such content adds value to their lives, because of the entertainment, information, and the solutions that they provide.
The advantage this has over outbound marketing is that consumers actively search for and spend time with your messages. When properly carried out, inbound marketing is not seen as invasive, and customers will be willing to spend time to absorb and understand.
Effective content is at the heart of inbound marketing. But this content can be shaped and formatted in a variety of different and relevant ways, according to the needs.
So, what are the chief tactics of inbound marketing? Because the digital domain offers so many different means of communication, effective inbound marketing should employ most if not all of them.
Blogs, e-books, website copy, online videos, e-mails, interactive chat widgets, and social media are just some of the ways through which inbound marketers do this.
All of these should be used to attract the customer, to convert them to close the deal, and to build a continuing relationship.
As you can see, inbound marketing doesn’t just play one role. It can play several, depending on the message, on the requirements, and the desired outcome.
Why Is Inbound Marketing Important for the Financial Industry?
Increasingly, consumers are looking for engagement with brands and services, and this is even more pronounced with the financial industry.
Customers need a better understanding of financial products and their ups and downs; without the jargon, without the fine print, and without the loud announcements. Trust is critical in financial services, and inbound marketing can do an excellent job with this. An increase in trust is extremely critical when it comes to higher conversion rates.
Inbound marketing is also helpful when it comes to spreading awareness about new financial products, and answering questions related to how such products meet customer needs.
Responsiveness is another factor in which inbound marketing for the finance industry excels in. It can reach out to consumers effectively, answering questions, clarifying queries, and issuing timely pieces of advice.
To stand out from the clutter, and to win over and retain customers, the financial industry cannot ignore inbound marketing.
Some Tips for Finance Sector Professionals
There are many ways in which financial services companies can leverage inbound marketing tips to get great results. Here are some of the best ones, specially tailored for the financial industry.
1. Personalize Your Solutions
When it comes to financial services, everyone feels they have unique problems and thus needs unique advice. It’s important to recognize this. Content should be tailored to provide individual solutions. Pain points can be addressed and resolved through online chat, for example. Finance offerings can be made customization via different web pages. And first-time investors can be treated differently from those with experience.
2. Leverage Customer Reviews
Many studies have shown that when customers are online, they trust reviews from other customers more than other content. When it comes to finance, such trust plays an even important role. When investors decide to start trading, or are deciding whether to employ your services, they will check and stress even more on positive reviews It’s important to feature such reviews on your website. Responses to reviews are important, too: positive ones can be met with a thank you, and negative ones, if any, can be answered by a promise to rectify matters and make things even better.
3. Use Local Search Engine Marketing
Local SEO is important because it helps businesses promote their products and services to local customers whenever such customers are looking for them online. Local searches are shown to have among the highest conversion levels. One example of how local SEO is important for finance professionals is that many customers would prefer to take financial advice from an adviser in the same locality or city. A sense of nearness to the customer can be established, and relevant comfort levels can be built.
4. Improve User Experience
One size does not fit all, especially when it comes to financial services. User intent can show whether the customer is looking for advice on the best investment, or how to conduct a transaction, or even awareness on which investment option is best. Web pages can take this into account. A retirement planning calculator can thus appear on one page, for example, and a mutual fund rate card on another, and so on. This helps provides a personalized and responsive image, customized to the investor’s needs.
5. Understand the Buyer’s Journey
Not all customers are at the same stage when it comes to making decisions. Some are at the awareness stage when they realize they need a solution to a problem. Others are at the consideration stage when options of solutions are sought. Then, the decision stage, when the customer chooses a solution. In the case of the finance sector, one way to look at it is that there can be two sorts of people: those already trading and investing, and those who have the potential to do it, but are not because of lack of awareness. Inbound marketing lets you tap both users by giving profiled advice to the active traders so that they can switch, and by giving educational content to the unaware audience. Such a focus can go a long way in increasing conversion rates.
6. Tell Stories
Some scientists have defined human beings as the storytelling species, and this is especially true when it comes to marketing. Information comes to life through stories, and understanding this can make compelling content. Such stories are important in the financial industry, with the need to demystify products and services. For example, the journey of an investor when he avails the services of an adviser can be brought to life. Or the story of a person in need of financial resources, and how the proper investment came to his aid.
7. Optimize for Mobile
It’s clear that mobile phone penetration is increasing rapidly across all segments, and that customers are comfortable in searching and shopping on their smartphones. The number of searches on smartphones, for example, has begun to exceed searches on desktop computers. This has big implications for financial services. They can look at separate apps, or at least at web pages that provide solutions such as researching stocks and mutual funds, reviewing account information, conducting transactions, or online chats and advice.
8. Don’t Forget Press Releases
Press releases, as well as favorable PR, are very important for the financial industry. They maintain and upgrade the brand image. They add buzz to any brand by creating an aura of newsworthiness. For financial services, PR can help to provide news about achievements, data about their business, and other successes. Be it small enterprises or large companies, press releases go a long way in capturing attention and should be employed regularly.
9. Segment the Target Audience
It’s also very important to tailor your content and message to the target audience, depending on the segment. A finance firm can, for example, point out the benefits of a monthly plan to those nearing retirement. Or could target housewives and explain why they should have an independent income. Or talk to college students, speaking of how their first salaries should be invested. Or reach out to those with disposable income to educate about the best way to grow money. This is a customer-first approach that is very effective in creating engagement.
10. Leverage Social Media
Consumers are accessing social media sites every day in increasing numbers, and are being influenced more strongly than before. For brands in the financial sector, this is an opportunity that should not be ignored. Agents and advisers can connect one-on-one with new and existing customers in a professional way. Inspiring stories and positive messages relating to investment can be shared. Awareness of new opportunities can be created. All in real-time, with quick feedback and response.
11. Don’t Ignore E-mail Marketing
A customer’s inbox is the one thing that he or she checks every day. E-mail marketing is thus a powerful way for financial companies to effectively reach consumers. On-boarding e-mails to showcase features and services. E-mails on topics like saving or budgeting, presented in an exciting and engaging manner. Promotions, announcements, and updates. All these and more, can go a long way in creating the awareness and the responses you need.
How Dintellects Can Help the Finance Industry with Email Marketing
At Dintellects, we have long and varied experience in working with the financial market, across all segments. When it comes to inbound marketing techniques, we are well-versed in techniques and strategies.
We have provided, and continue to provide, effective solutions for stockbroking and allied services. Our specialization in this field is deep as well as wide.
Our in-depth research into all aspects of the financial industry means that we have access to a bank of powerful insights. Every day, we leverage these create innovative marketing programs.
Our content writing team specializes in writing finance-related content in an accessible and informative way. It uses a variety of formats best suited to target audience segments. No matter which stage of the buyer’s journey they are on, such content can reach out and be compelling.
This also means that the e-mail marketing program we can draw up for you will be fully customized. While also being positioned to take advantage of the customer solutions that you can offer.
Contact us to discover how we can make our experience and insight into the financial sector work for you. And then, prepare to win over customers with compelling e-mail and other content especially tailored for maximum effectiveness.