In the highly regulated financial services sector, changing business rules are leading to the rise of more and more conflicts in an already complex ecosystem. Changing lifestyles and increasing consumerism have resulted in an exponential increase in the number of players in the market. Non-traditional players have also entered the fray with disruptive features like peer-to-peer lending, bitcoins and more.
What can you do as a digital marketing practitioner to handle this complexity?
ValueLabs can augment your capabilities and help you bring your brand to the forefront, ensuring unprecedented mindshare. We leverage social channels, marketing automation, online presence management, and ad operations to boost your online brand presence.
We can help reinvent marketing for financial services companies in the following ways:
- Tapping into customer data
Using social media-generated data on selective target consumers based on their specific needs such as marriage, the birth of a child, the purchase of a car etc, thus helping financial institutions to leverage social technologies to their maximum potential.
- Increasing customer loyalty
Research shows that customers who communicate with companies on social networking sites are 40% more likely to buy a greater number of products and services from them. As the number of consumers preferring to do their banking online increases, integrating social features with online banking services can significantly increase customer loyalty over time.
- Lowering costs of customer acquisition
Studies have proven that across banking and insurance, social technologies can reduce the cost of customer acquisition considerably which otherwise would be to the tune of $70 and $300 to obtain each new client.