Financial services advertising providers cater to a well regulated industry. The goal is to get noticed, stand-out to your target audience, and stay relevant to your consumers.
Financial service providers without a digital strategy are overlooking an important communications channel. According to Smart Insight statistics 2020, 81% of users search online for a product or a service provider.
Potential consumers in your area are searching online for financial services. This includes loans, insurance plans, credit cards, investment advisors, and mortgages. Because you don’t have a digital advertising campaign in place, your firm is not part of the customer journey. Which means you are missing out on potential clients.
According to Google, online advertising has many benefits; it’s broad, fast, flexible, and trackable. This makes it easier to scale a digital advertising campaign to fit your business needs. The most important aspect is the ability to track its performance and adapt in real-time.
3 Key Benefits of Digital Financial Services Advertising
1. Targeting New Audience
Online advertising enables you to cover a wider audience of the existing market. It also opens doors to new marketplaces such as social media platforms and online financial services portals.
Some of the most common ways to target your audience include:
- Pay-per-click (PPC) advertising. This reaches new clients who are searching for financial services online
- Targeting consumers based on their interests, locations, needs, profession, and age, etc.
- Remarketing to existing clients and those who did not respond to your call-to-action (CTA) the first time. This is often overlooked.
Pro Tip: Implementing online advertising helps you gather market intelligency on competitor. It’s helpful in creating a customer persona based on their real data like gender, age, profession, and other behaviors. Use that to drive more traffic, both online and offline, and increase your conversion rate.
2. Increase Conversions
Online ads play a vital role in increasing traffic to your website and online service portal.
A lead is your first contact with the consumer. It happens when a visitor shows interest in your service by submitting a contact request. This request may come as an email, a message with a phone number to call back, or through your social media business page, etc.
You can use promotional services to entice a visitor into providing this contact information by offering some viewed as a value. That can be in the form of a discount, demo, or free download. It simple math from here. The more leads you generate, the greater chances of converting prospects and boosting ROI.
3. Brand Awareness
A strong financial services advertising campaign builds trust with your target audience. Online advertising helps showcase the benefits and features of your services. It also enhances your brand awareness among your existing audience; keeping your company on top of their minds.
Some ways to improve your brand awareness include using search ads, social media Ads, Video Ads.
Now that you are aware of how important online financial services advertising is, let us look at the types of digital advertising.