Why Do People Need A New Financial Institution?
The most common reasons are:
- Relocation. People move away from their local branch.
- Dissatisfied. Usually several negative experiences lead to a “straw that broke the camel’s back” scenario making someone receptive to switching.
- Life Stage / Event.
How do we know that someone is ready to be a good prospect for financial institutions? Data. We are able to gather data that will that tells us about their thinking and life events.
The Personalized Brand
Brands today need to be chameleons. They need to be everything to everyone. With digital we can leverage data to create relevance to people without physically being in their communities. By using creative that reflects the locality, feature local celebrities, a brand can foster intimacy and trust without face-to-face interactions.
Businesses without branches in the community need to work to build a digital relationship. You need to connect with people when they're looking but also reach out to them before they even start thinking about looking.
Here are a few channels you can use to build relationships:
- Paid Search
- Paid Social
- Behavioral and Contextual Display
Growing Market Share
You want to take market share from local branches. To do this, you need digital to build relationships with since you don’t have agents in the communities to build trust with people directly.
Developing Trust in the Digital World
As a financial institution it’s critical to establish trust with your customers.
- Video testimonials
- Social media
- Stories of the brand values
FREE Strategy Session
One-on-one strategy session with an expert digital strategist with extensive experience in the financial services industry.
Only available for the next 8 days!
Growing Financial Services Brands
Knowing the mindset of customers and prospects is key for succeeding in the financial services industry. Using our innovative, data driven approach we’ve successfully grown a number of clients in the financial services industry by meeting people where they are and telling them what they needed to hear.
Check out our work.