Discover in this article the top digital promotion ideas in the financial banking field! In today's economy, the banking industry operates and competes fiercely for the same consumers and in virtually the same market. Precisely for these reasons, marketing done as per the book is essential for differentiating and developing the organization, as well as attracting the right clientele, constantly. At the same time, the financial-banking niche is extremely active, with constantly improved technologies, with increasingly innovative and efficient products and services always offered to customers.
How do we create our financial-banking marketing plan?
Any marketing planning starts with business analysis. In the first phase, it is necessary to know the strong and weak points of the organization, to develop a suitable promotion plan adapted to the reality of the given organization. Thus, the annual marketing plan will include the annual promotion budget for each branch or department and will deal with the definition and implementation of marketing functions. It will focus on services and the market and will consist of detailed actions to achieve the objectives of the financial banking service offered in the target market.
Therefore, financial-banking products and services must be presented to the market favorably and attractively, both for individuals and legal entities, but also to constantly seek to fulfill the needs and expectations of the clientele; to constantly adapt products and services; as well as to constantly innovate to maintain its relevance in the market. There must be a well-established balance between the level of fulfillment of the expectations of the clientele and the profitability of the business.
Online marketing in the financial banking field thus has the intention of motivating the purchase of specific financial products or encouraging particular forms of financial behavior.
The challenges of financial-banking marketing
1. As it is a service, it is intangible and, therefore, it is the banking consultant's duty to give complete and attractive information on the qualities of the presented financial offer. Thus, the purpose of marketing is to demonstrate the quality of the service, which would otherwise be unknown to the population.
2. Limited consumer knowledge stems from a lack of finance and money knowledge in general. These can result in inefficient and uncompetitive market conditions for various bona fide banking institutions.
3. Lack of emotional component - financial services are not usually associated with high levels of excitement and feelings involved, which makes financial banking marketing a more pragmatic tool.
Best ideas for digital promotion in banking finance:
The financial banking field is complex and widely consumed, and online marketing for it has its specificity and tone. Let's see what are the best ideas for promoting a bank in the digital environment in 2024:
- Promoting the service with an emphasis on the strengths that they have and other banks do not - here the differentiation can take place in 3 ways: through innovations; differentiation through time-saving (their potential clients want to use their available time as efficiently as possible); brand differentiation (being made up of the name and other distinctive elements, such as the slogan and symbols, the brand offers customers an effective mechanism for identifying a commercial bank or its offer).
- Special/holiday offers and promotions - marketing activities that involve the use of means and techniques to stimulate, drive, and increase sales of financial products and services around certain holidays.
- Promotion of products through newsletters - can include forms that the client can fill out and send to the bank by mail, thus saving both the client's and the bank's time.
- Videos on TikTok - video content about customer testimonials, and informative content about offers, and services.
- Facebook – informative posts, long reads, distribution of press appearances (we recommend advertorials in the press, at least 2 for the first month).
- Working with influencers on Instagram - all with large numbers of followers.
- Banners on media sites - outstanding banners can be remembered by consumers even years after exposure.
- Paid advertising for Facebook & Instagram - increasing collective awareness of the name and activity of the financial institution.