Anyone who’s kept up with the financial services market over the past two years understands that change is constant and predictions are far from perfect. Pandemic-prompted shakeups in the sector saw employees and CEOs alike working from their living rooms, adapting to changes as quickly as they came—something the profession isn’t exactly known for.
The fallout from the pandemic forced a traditionally rigid industry to adapt to an ever-changing financial landscape, and this new mindset can’t be a trend; it must remain a central feature of a somewhat antiquated industry if those within it want to see it (and their business) evolve to serve customers in a way that resonates with them. Here are four trends we’re forecasting for the coming year and how you can capitalize on each with your digital marketing strategy.
Four Financial Services Trends Coming in 2022
It may be cliché to say that change is the only constant in life (and business), but it’s never been truer. Embrace these trends to connect with new customers and keep up with your existing ones.
1. Marketing Strategy Diversification
An intelligent, diversified marketing strategy is hugely important for many reasons. First, digital is the main way customers connect with financial market services. Everything’s online, so your presence should be, too. Second, it’s easy to implement and tweak existing digital campaigns. If your A/B testing reveals A isn’t working, lean into B, and test again. Rinse and repeat.
But digital isn’t the only way. With more people working from home than ever, you need to reach people where they are—and that’s more commonly at home. Direct mail as part of your multichannel marketing strategy is an excellent way to reach customers.
2. Genuine Connection
Quarantines, isolation, social distancing did a number on how we connect with one another. If you think your automated emails are going to fill the gap, think again. Customers are quick to unsubscribe, and you need to dig deep to understand your customers before adding them to your drip campaign.
Identify your objective based on their needs; it’s not about you. Give them the information they need, and make it clear how your product or service is the solution to their problem. Don’t make your call to action too desperate. If you don’t get them on email number four, give them a reason to open numbers five through eight until they’re ready. Patience over pushiness is a virtue, and something all teams need to understand if they want to earn customers’ loyalty.
3. Online Events Are Here to Stay. Embrace the Opportunity.
Online events provide a captive audience. Just make sure your event is worth watching. You’ll get to your pitch, but you need to think about what makes in-person events fun (or, at least tolerable, in some cases) to attend. Invest in putting on an exceptional online event. Up your marketing spend and send attendees food, drinks, branded collateral, or other materials before the event. Human connection is tangible, and your messaging should be, too. Get creative, and give attendees a reason to enjoy and connect with your brand.
4. AI Becomes More Common and User Friendly
Finding and landing new customers is arguably more complicated now than pre-pandemic. Invest in AI and machine learning to capitalize on educating and landing new customers. For example, increase your spend to include virtual assistants or chatbots to help customers get to know your brand while you and your team are offline. Lean into AI that can help you educate, sell, and onboard faster.
If the thought of going deeper into AI and machine learning seems daunting, invest in talent who can help you develop the best AI strategy for both near- and long-term objectives. AI may be here to stay, but human talent is central to your business’ success. With the right team, you can find the right human-AI connection that keeps your organization ahead of the competition and on top of trends.
Stand Out in the Financial Services Industry in 2022
Associates International has dedicated significant resources to helping companies navigate trends in the financial services space, enabling us to help companies reach new clients and their goals. If you’re ready to kickstart your 2022 strategy, reach out to Associates International today.
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