The Finance Industry in Australia is now one of the most dynamic, diversified, and technologically advanced markets. It is a regional leader in asset-backed securities, Real Estate ITs, Over The Counter derivatives, Exchange-Traded Funds, OTC bonds, and Hedge funds, among other products, and the market is still expanding. Roy Morgan’s Banking and Finance Report reveals that in the 2020/21 fiscal year, Australia’s total financial services market grew by a record $1.27 trillion (+13.2 per cent).
Digital Marketing for Financial Services
In the financial sector, trust and reputation are critical. For financial advisors, reputation is considerably more important than offering enticing promotions. People who are looking for advice on managing their finances usually do a lot of research prior to leaving their money in the hands of an adviser. It has been shown that financial companies with professional experience and a good online reputation are one step closer to getting more valuable leads and sales than their competitors who don’t have an appealing online presence. Financial services professionals must tell their prospects that they’re the best in the business. They need to provide reasons that their new clients will trust them, in addition to showcasing their good results and positive feedback. How does an adviser demonstrate that in this competitive world? Well, this is where digital marketing comes in to help you.
In the financial industry, it’s essential to target the right audience. Not every customer may be a good fit for your business. For example, if you focus on share trading, you won’t be aiming your marketing efforts at millennials. But with digital marketing, you can direct your marketing efforts at stock buying older generations. You have a much better chance of reaching your target audience using digital marketing by attracting your audience through your website and well-written words.
In order to connect with current and potential customers, strong brand awareness is essential. When it comes to their money, people need someone they can rely on. Companies that have been in business for an extended period have built their reputation on reliability and trust. For new companies, it’s more challenging to build up a list of loyal clients from scratch. Businesses need to focus on building awareness, establishing a community of followers and having a well-built, informative website to capture their interest. A website that is user-friendly and provides answers to the questions your audience is asking can position your business as the best choice for financial services. Connecting with current and potential customers via online channels is an excellent way to raise brand awareness and lead to eventual sales.
A variety of digital marketing strategies can aid your company’s growth. According to a Gartner’s The State of Marketing Budgets and Strategy 2022 report, marketing budgets have increased in 2022 to 10.4% of company revenue for Financial Services companies. Financial services businesses are using marketing to expand their clientele, scale their business and take advantage of the new marketing avenues available online. Financial services companies that want to increase their brand awareness and recognition must think outside the box and develop effective digital marketing and implementation approaches that suit their business, audience and marketing budget. Not sure how to start? Crunchy Digital can help. Don’t hesitate to get in touch with us to find out how we can help your business grow.