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Service Marketing Application in Financial

services

• Financial services applications have come into focus ever since financial Institutions have
introduced online solutions and innovations such as person to person payment, online transfers,
alerts, and other such services.
• With the usage of technology, the banking and financial sector has been incorporating risk into
mainstream decision making, promoting a culture that incorporates risk management, consistently
monitors performance, provides relevant market intelligence, and delivers business and
profitability insights.
• In the current scenario, financial services institutions need an effective and reliable business
intelligence solution to meet their enterprise needs. Also, due to the increasing number of financial
institutions, there is a need for such financial services, which is expected to boost the growth of
the market
• The financial services application market is expected to register a CAGR of 7.86% during the
forecast period 2019 - 2024
A marketer working in the financial services area, may possibly realize how difficult it's to stand out of the
crowd. We’ve put together a list of 6 comprehensive financial marketing techniques that you can employ.

Get tools that help you make smarter decisions

Relate to your target audience

Build trust with your prospective customers

Optimize your customer journey for every single financial services marketing campaign

Use artificial intelligence to wow your customers

Optimize your digital user experience


1. Build trust with your prospective customers

• As a financial institution, there’s one single truth that makes you similar to any company in this
field: you’re dealing with people’s money.
• why should the customer trust you with their pennies. And why you versus all the other
financial service products out there?
• First, from a branding and marketing perspective, you must work with your executive
team to define and sharpen your core values. And it’s not just about defining those
values. It’s about how you show the world that you mean what you say.
• make sure your mobile responsive website and mobile apps (if applicable) look sleek and
modern - just like your customers.
• build social proof by working with role models and celebrities who can endorse your
product
2.Relate to your target audience

• The point is simple: you have a generation that has been profoundly impacted by the economic
crisis of 2008. They don’t want to have anything to do with financial products. But ten years
later, most financial marketers are promoting their products like the financial crisis never
happened.

• You need to explain why your financial products are good for them - why it’s safe and financially
responsible for young people to leverage a wide variety of financial tools. Simply put - you need
to educate your target audience.
3. Get tools that help you make smarter decisions

• What tools is Chase referring to?


• How are those different from the competition?
• How are those tools actually going to help me make good decisions?
• What a good decision in investment?
4. Optimize your customer journey for every single
financial services marketing campaign

• Creating a smooth user experience has always been a challenge for financial institutions.
• Many financial products have a web experience which is not working on a mobile app. And so on
and so forth.
• Users expect the same experience across the board. As a result, marketers need to take the lead
and understand where processes and experiences break down in the user journey. And they need
to alert their internal teams (product managers, IT teams) when that happens.
5. Use artificial intelligence to wow your customers

• With AI, you don’t have to guess the behaviour patterns of your customers, but rather use the
insights gathered automatically to make judgements and figure out what’s to do next.

• Machine learning is great to financial services marketing due to a whole host of prediction
methods generating ideas about what users want.
6. Optimize your digital user experience

• the definition of user experience has changed dramatically across all industries over the last
decade. And financial service companies are no exception to the rule. So consider adopting a
more conversational tone, more modern designs and technologies that are bound to create
seamless experiences across all your digital channels.