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It’s All About the Numbers: Digital Marketing for Financial Services Institutions

Posted @ 11:21 pm by Tim Ross | Category: Community & Social Media, Digital Marketing, Financial Services, SolutionSet | 1 Comment

This is part one of two on our series on how Financial Services firms can leverage web and mobile technologies to drive business results.

Financial services institutions are uniquely positioned to take advantage of digital tools, but they also face unique challenges in doing so. For a start, the public is arguably more concerned about privacy with respect to their financial data than any other type. Then there’s the fact that financial services companies tend to have robust processes in place for any change to how they communicate with customers–for good reason, but those processes can slow the adoption of new technologies and approaches.

Financial services companies have been slow to embrace digital marketing for other reasons, too. A recent survey of marketers in the financial services industry, conducted by MarketBridge and SourceMedia, found a pervasive belief in the industry that social marketing tools are not yet proven. Respondents also felt that, given the lack of experience with digital and social tools in most financial services companies, their money would be more safely spent on tried-and-true existing strategies.

Nonetheless, some financial services companies are paving the way for the industry, experimenting with everything from detailed customer segmentation and social community pages to looking for new ways to expand on the success of mobile banking. Over the next several weeks, we’ll be taking a look at who’s doing what well, and which tricks and tools we think financial services companies should be using more. Come back next week for the first installment, a look at how the financial services industry could and should be thinking about social marketing.

 

Tim Ross is the CEO of SolutionSet.

One thought on “It’s All About the Numbers: Digital Marketing for Financial Services Institutions

  1. [...] is part two of our series on how Financial Services firms can leverage web and mobile technologies to drive business [...]

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