Financial institutions have been forced to keep up with a new set of demands from consumers who expect to conduct business and transactions online and via their mobile devices—with ease. All of this creates challenges for financial institutions, particularly in the wake of increased regulatory scrutiny, reduced fees, and privacy concerns among a consumer base that is increasingly price conscious in the aftermath of the global financial crisis.
In response, financial institutions have embraced the shift to digital by providing online and mobile-enabled applications, which not only improve customer satisfaction but lower the cost of servicing customer transactions significantly. Not only are consumers expecting to conduct business online, their demands have increased for relevant, engaging, and personalized experiences.
The funds spent by Finance Industry for the year 2008 were $3.04 million and it is targeted to rise to $20.5 million in 2013. The report indicated that many advertisers who were initially skeptical to what digital marketing and advertising could do are turning into adopters.
Worldwide digital advertising is projected to have a growth rate of 15 per cent from 2011 to 2016, making it the third fastest growing media for the next decade to come. Digital advertising revenues are also expected to double from $2.6 billion to $5.2 billion in the next few years.
Financial Services Trends
The following trends define the high-tech landscape today:
- Shift to digital channels
- Increased demand for personalized experiences
- Emergence of mobile and social
- Challenges For Financial Services Business
- Highly regulated landscape
- Gaining a holistic view of customers
- Understanding social
- Leveraging mobile to drive revenue
- Measuring ROI on sales and marketing spend
Based on the above facts, the below solutions are recommended for Finance industry
Search Engine Optimization is a best online marketing strategy and will make your website popular.
Online media planning and buying (Digital Media) is regularly transforming due to several factors.
Blog Management and marketing is the process of reaching a business prospects through the use of a blog.
As modern technology strengthens its roots in the business world, mobile phones ,
Online media planning and buying (Digital Media) is regularly transforming due to several factors like invention of latest media platforms,
Advertising is a great way to quickly drive targeted traffic to your website. Instead of paying upfront for placing
Email Marketing is a well established form of direct marketing and is an inexpensive proven online marketing tactic that continues to grow.
Digital marketing is receiving increasing attention as more consumers go online and new technological avenues open up to drive home a marketing advantage of reach and effectiveness at a lower cost. So, it is believed to offer advertisers a targeted way of reaching consumers because of its ability to extend middle media that drives people to browse, visit a website, or download an app.