Financial marketing is inherently complex; there are often a number of messages to get across and a number of products or services to promote - all through a wide range of media channels to meet customer needs.
We've all heard the phrase ‘Less is more' and nowhere is this more relevant than in the Financial services marketing arena. Brand messaging, product features and media channels need to be streamlined to encourage engagement and generate sales.
Let's look at these three areas a little closer.
As I mentioned in my previous blog post, decision makers make emotive choices when buying, and the start of that emotive process is in the core brand messaging communicated by a company. A simple message will have a better chance of striking a chord with a key decision maker. You want your decision maker to act on impulse; a short, clear message will achieve this far better than a complicated message, which, quite frankly, will turn a customer off.
Brand messaging and brand values need to be simple. Be clear in what you stand for and what you want your customers to think and feel when engaging with you. Write only a handful of these short messages and you can use them throughout your communications.
Be simple, clear and focused.
You may offer a wide range of products or services. Don't bombard customers with everything. Have separate campaigns to drive leads and customers to a select few highlighted products or services.
Reduce the number of complex products/services you talk about at any one time. No one will want everything you offer, so remember to target services to different audiences.
Manage your media outlets and channels for optimum response and choose them wisely. With a vast array of media channels available, some will be of value and some will not.
Although marketing usually works as a mix, differentiating campaigns on different channels will help you keep track of your leads and sources. This will enable you to measure your results and find your most responsive audience. It may need a bit of trial and error at the beginning, for example you could run a small advertisement in an online or offline publication, but if it doesn't work find another channel.
How you communicate your messages and through what channels is arguably the most important aspect of your marketing strategy. Get it right first time and let us know if we can help you.
by Neil Edwards, 4 minute read
by Neil Edwards, 7 minute read