In the current digital world, Internet has become a major media where people get up to date information day in day out. On an average person conducts 3–4 searches every single day and Google receives over 63,000 searches per second.
Having said marketing strategy is incomplete if it doesn’t address the digital channels.Ironically your business not listed in Internet is as good as being stagnant.
The very existence of Financial service industry revolves round money. Like any other sector customers of Financial service industry too, Google first to find out about various services. There is a growing need for the finance industry to adopt digital marketing for its survival. Digital marketing for a financial service industry can help
Increase customer base
Customers are available more in the internet than anywhere else. Through online promotions and social media marketing one can reach more customers, we can evaluate their interests and based on it we can plan the offers and target them accordingly.
Receive instant feedback
Clients’ interests on various products and services offered by our company can be instantly known through various surveys conducted via online forums. Customers feedbacks, opinions, and reviews about your products and services help companies to design a new product and improve the current services.
Creating goodwill through various promotional offers
Festive and promotional offers help in spreading financial literacy, creating goodwill, and enhancing brand awareness.Traditionally many banks give festive promotional offers to their customers. Social media is one huge platform where the offers reach maximum audience.
Cuts down other marketing expenses
Compared to digital marketing the other marketing strategies like traditional advertising and branding are quite expensive. Even the reach for digital marketing is huge compared to other strategies.
Social media is a wonderful platform that presents remarkable opportunities to drive engagement with customers. According to Report by Facebook-Boston Consulting group,there are 6 crore digitally influenced retail banking customers in the financial services industry in Indiain 2016. By 2020 the customer number is expected to double.
Financial industry has been extremely slow in modernizing their marketing strategies to match the changing consumer behavior but they have geared up the approach now. We see a lot of banks, insurance companies, finance companies pitch in internet to market their products.
Digital marketing can change the way Banks and financial institutions reach the audiences. KloudPortal provides end-to-end digital solutions from social media posts to making website content SEO friendly toranking the company in the first page of Google.