3 Ways Financial Communications Has Been Transformed By Technology
Catalyzed by the COVID-19 pandemic, the race to become digital is apparent, and the financial services industry is not immune. Now, financial companies large and small must use technology to propel their businesses forward, particularly in their marketing and communications to form meaningful relationships in this new, permanently altered business landscape.
Financial communications had already undergone a technological makeover over the past decade with the emergence of inbound marketing, social media and search engine optimization. Going forward, these three systems for financial services communications will be absolutely essential for financial brands of all sizes.
Utilizing social media to create a loyal following
Keeping up with your followers is so important. Financial firms must engage and communicate with their clients on social media in order to create a loyal following. A recent Greenwich Associates report found that nearly 80 percent of investors regularly use social media, and 30 percent said social media content influences their decisions and recommendations. It is clear that investors want to interact with their advisors on social media, however, they are only interested in high-quality, engaging and actionable advice.
A Bridgeport report found that less than four in ten respondents said the content that is produced by their financial advisor was engaging, and less than three in ten said the content was actionable. Technology has transformed the customer experience and investors have come to expect a high level of service, no matter the industry. In order to meet your customer’s needs, it is important that all the content you produce is engaging and actionable. This will make you stand out among the financial advisors lacking quality content and help build your firm a loyal following.
Many advisors attempt a do-it-yourself, or “DIY”, strategy resulting in weak content. In order to create the high-quality content your customers are looking for, you may have to hire the right outside agency. By hiring an agency that specializes in financial services they can help build content that targets your niche audience and increases the reach of your social media presence.
Implementing local SEO tactics
In this digital-first world, potential customers are heading online when on the hunt for a financial brand ranging from banks to financial planners. With over one-third of millennial financial clients using their smartphones to search for financial information, firms must use local SEO tactics to place themselves in front of clients and become known financial professionals in their areas.
Go Globe states that 46 percent of all Google searches are local, and 89 percent of participants admitted to searching for a local business on their smartphone once a week or more, while 58 percent search daily. These statistics show the importance of local SEO and why it needs to be implemented into your firm’s marketing strategy.
SEO maximizes how often your website shows up at the top of search engine results making your firm easier for potential clients to find. Implementing successful SEO strategies can establish quality link backs to high authority sites resulting in a large amount of referral traffic. It could be valuable to your business to hire a public relations agency that will help your firm climb the SEO ladder. These experts will understand the online user experience and understand what your potential clients are searching for.
Inbound marketing strategy
Inbound marketing is trending upward and it is here to stay. According to HubSpot, inbound marketing is a business methodology that attracts customers by creating valuable content and experiences tailored to them. This form of marketing engages customers with content that appeals to their interests rather than pushing general advertisements at them. This content includes e-books, whitepapers, infographics and other original downloadable content.
Implementing inbound marketing strategies allow financial brands to build their email lists and fill their sales pipelines with those who download their content, helping them facilitate ongoing communication and relationships. This technique is great for drawing new customers to your products and services while driving business growth.
Erica DeProspo is an Assistant Account Coordinator at Flackable, a national, full-service public relations agency headquartered in Philadelphia. To learn more about Flackable, please visit www.flackable.com.
