The Latest Trends of Digital Marketing in the Finance Industry 2017

Friday 15, 2017 | Marketing | BY Team Six Inches

Content Marketing, Big Data, Influencer Outreach, and Display were some of the most significant digital trends in 2017.The Financial Services industry, often considered a black sheep when it comes to moving full throttle on digital marketing strategies, did come up with interesting innovations around the latest digital marketing trends. Here are few leading Financial Services brands whose digital marketing ideas made people sit back and admire them:

1. Content Marketing: Morgan Stanley’s official website

The insatiable drive among the consumers to know more and more about a brand or a product is never-ending. To cater to this rising demand, Financial Services brands are generating thought-provoking interactive content that drives conversations. Morgan Stanley’s official website is a great content marketingexample aimed atretaining users.

How the website stood out

The website is more like a digital magazine featuring great stories on financial topics from a very consumer-friendly angle. For example, NBA Star Antoine Walker’s life-journey from a basketball multimillionaire to a bankrupt man was an instant hit among the wealthy executives and leaders, who are Morgan Stanley’s target audience. In addition to stories about investing, interest rates or the global market; their Ideas section is also very well-received by the audience, who make it a point to come back to the website everyday or sign up for their weekly newsletter.

Source: www.morganstanley.com& NewsCred Insights

2.Preroll Ads Display: Geico actually crushes its preroll ads to nothing

While debates raged around the longevity of preroll ads in 2017, Geico, a car insurance company, came up with an extraordinary preroll ad concept that further reinforced their brand recall value.

How the preroll ad stood out

Geico acknowledged the fact that people usually do not want to watch pre-roll ads. As soon as their ad began, you would hear a voice over saying, “The following ad is being condensed for your viewing convenience.” And the ad would literally begin to crush everything on screen amid another voiceover saying, “Shift to Geico and save” You have to see to believe it.

Source: Adweek.com

3. Brand Campaigns: Citi Bank’s Double Cash Card Commercial

Brand Campaigns are about connecting with people and creating an impression in their minds. Citibank, who has had a stake in music since 2015, chose catchy songsfor their latest Double Cash Card commercial.

How the ad stood out

The ad showcases multiple pair of twins performing various actions amid tracks of ‘Here Comes Your Man,’ ‘Singin in the Rain,’‘Double Lovin’ conveying the message – Double your love – Citi Double Cash Card. This ad is a result of a Citibank survey, which revealed that 31% of the people reacted to a song with a smile, tear or laughter. About 80 percent remembered the brand or bought its product if it had one of their favourite songs. By using music to tell its story, this Citibank commercial definitely is bringing in smiles.

4. Influencer Marketing: How American Express is using Instagram influencers

Popularity of influencer marketing showed no signs of abating in 2017 with about 84% marketers having planned at least one influencer marketing activity. American Express turned to Instagram for its influencer activity.

How the influencer campaign stood out

For its customer acquisition and retention strategy, Amex uses premium reward programs, where privileged users are given luxurious travel upgrades, exclusive event tickets and other perks. These perks resonate well with the lifestyle of celebrities, who live lavishly, tour around the world and enjoy the best of the experiences, thus emulating the core elements of Amex’s Platinum Rewards Program.

Hence, Amex partnered with Instagram and developed long-term partnerships with celebrities in the fields of travel, interior design, fashion, photography, etc. These celebritieswere invited to exclusive American Express parties, trips and events. The celebrities later postedabout them on Instagram, thus indirectly encouraging their followers to become membersof Amex Platinum Card members to enjoy similar experiences.

5. Advanced Analytics: First Bank of Tennessee used Big Data to reduce data preparation time

Data is being produced every moment – when we swipe cards, log on to sites, etc. and these data are giving valuable insights into customer behaviour. An IBM report showed that 74% of the financial market has begun using data and about 55% is focusing on customer-centric outcome. First Bank of Tennessee is one such bank to use Big Data.

How Big Data Analytics helped First Bank of Tennessee

It used Salesforce in combination with customer datato come up with the right kind of training courses for their sales representatives so that they could sell their products effectively. Also, with the data preparation and analytics software, the bank managed to reducedata preparation time from three-to-four hours down to merely few seconds. This meant faster reporting, improved consumer experience and a more agile sales organization.

Source: TheFinancialBrand.com