Has the landscape ever been tougher for consultancies and firms looking at marketing financial services?
As well as the uncertainty caused by Brexit, there are a huge amount of other rising factors which are making it difficult for those marketing financial services to attract new clients and introduce them to their financial options such as bonds, consultancy services and more.
Investing into inbound marketing for financial services though can help investment firms and other institutions to better advertise their financial products, target and attract high net-worth investors, and set themselves apart from the competition.
So, what areas could inbound marketing for financial services help financial firms overcome?
1: Competing against disruptive fintech trends
It’s less than a decade since the last global recession, but already in that time an entire industry has hit the international financial scene dedicated to disrupting traditional financial institutions through easy-to-use financial services on the internet.
PayPal, Apple Pay and Google Wallet are just some of the most popular services borne of the financial technology (fintech) industry, allowing people to investigate new financial opportunities, save, invest and transfer money from a smartphone.
Marketing financial services in the right way can not only help you compete against rising fintech upstarts in the industry, but to also better advertise your brand’s key selling points to a highly-targeted audience of potential leads.
2: Offering human advice at troubling times
Another caveat of the fintech industry is the reliance of chatbots and other artificial intelligence programs that are being used to interact with customers and offer them advice on social media platforms including Facebook and Twitter.
Some are even using chatbots when marketing financial services, though there is a lot of evidence out there to suggest that the current roll-out of AI is far from precise and is not yet an exact science.
Even if it does become an exact science, absolutely nothing can beat the benefits of human experience and forging strong, personal relationships with clients. Inbound marketing for financial services helps to open conversations with high net-worth clients and build a long-term rapport with them as you help introduce new products to their portfolios.
3: Making audiences aware of alternative investments
The alternative investments market is in a state of serious growth within the UK, seeing growth up to £3.2 billion in 2015/16 and enormous growth of 500% in donation-based financial models.
The renewable sector, for instance, is seeing fast growth as the world begins to turn its back on non-renewable ways of generating energy. At the same time, a lot of financial firms are attracting equity-based investments thanks to crowdfunding and P2P models.
Investing in traditional financial marketing services though can make it tough to reach out to a tech-savvy audience of sophisticated investors who may seriously consider these options to diversify their portfolios.
Detailed persona research and discovering where these investors are spending their time is key to producing creative content and specifically targeting them to open conversations with them through inbound marketing.
4: Reducing costs per lead and improving quality
The introduction of General Data Protection Regulation (GDPR) from the EU Commission in May 2018 is set to be the final nail in the coffin for traditional outbound ways of marketing, especially intrusive cold-calling.
Moving to an inbound way of financial marketing services and putting that spend into specific areas is not only a far less intrusive way of advertising to potential investors, but can also be more cost-effective than traditional outbound methods, reduce your costs per lead and improve their overall quality.
Inbound marketing can also improve lead frequency through organic search platforms. If you put some budget into specifically targeting investors most likely to be interested in your products and services through social media, you can also improve the quality of the data you collect and dramatically reduce your costs per lead with inbound.
Want to know more about how moving to an inbound marketing model can benefit your financial firm and attract high-quality investment opportunities? Contact Six & Flow’s inbound marketing experts today.