Digital media has taken the world by storm over the past decade. Customers are now becoming more comfortable with cashless payments, online banking, and mobile wallets. This makes it critical for financial organizations to formulate their marketing strategies. But there are unique challenges for these companies when it comes to using digital media as a part of their marketing strategy. Some among these are compliance concerns, increased competition, and regulatory restrictions. But the biggest challenge remains only one – Getting New Customers!
If you ask me, I love this challenge! As a lead generation & target marketing expert, I can relate to the excitement and hustle of getting new customers for my financial clients. It is an opportunity to build a healthy business relationship with them by adding a value to their enterprise. With over 7 years of experience in delivering result oriented campaigns for more than 100 BFSI & other industry sectors, let me share with you some of our pillars when it comes to customer acquisitions!
1. Quality Lead Generation (The Unique Pay per Lead Model)
Managing comments and likes on social platforms are just the tip of the iceberg when it comes to using digital media as a marketing tool. The biggest key is to generate high-quality leads which converts.
But many financial companies waste money, lose time and most importantly, lose momentum by paying for the ads which have not given any results. So how about paying only when you get leads? A unique 360 degree spends approach lets you pay only for the results, without having to worry about the entire ad spent.
2. Intelligent Target Marketing
Everyone on social media is not your Customer! Therefore the intelligent & precise target marketing strategy helps the financial marketers to define their target audience based on meaningful criteria and helps to connect with the right consumers.
3. Selecting The Right Digital Platform
Being a financial company, your aim can be anything including generating more traffic, more leads, more awareness, more credibility and ultimately, more sales for your product or service. But selecting the suitable platform for your marketing strategy can be confusing at times!
Although Facebook remains the best choice when it comes to Insurance Leads due to its ability to deliver high volumes at low cost, the shiny new Instagram also has more users, features, and potential. Combined together, Facebook and Instagram are the quintessential ingredients for acquiring new customers. But don’t forget there are other platforms too to get warm leads, lots of traffic and an engaged audience such as Twitter Cards, LinkedIn Ads and of course, Google AdWords.
4. Tactical Retargeting
The customer sees your Credit Card ad on Facebook, clicks on it and does nothing! Is it your ad which isn’t appealing or something else? It’s okay to have some drop outs initially. After all, you can’t expect cold leads to instantly whip out their credit card and buy. They’re just not in the buying mindset. They are probably there to check their friend’s updates, comment on photos or generally see what’s happening in their network.
But there will be some customers who are ready to buy. This is where Retargeting will do wonders. Since people have already been exposed to your brand or already shown interest in your product, the probability of them being a highly qualified prospect is more!
Everyone is at different stages of their marketing efforts. What works for you may not work with others and vice versa. But that should not stop you from achieving your goals.
Remember “Your Marketing Plans Are Incomplete Without Digital Media.”
So if you aren’t having success with your current strategies; follow these strategies, put them into action and see the results. It will surely surprise you!
With so many interesting options to connect with your ideal customer, what is that one thing which resonates with you? Let me know in the comment section below.
Also, I will be sharing some exciting secrets on making customer acquisition easier on 19th April at BFSI Digital Advancement Summit 2017. Let me know if you are coming there, so we can have a quick chat.
And, if you are just starting & need a FREE consultation on how to use Digital Marketing for your business, you can get in touch at firstname.lastname@example.org or call on +91 22 4113 3762!