In the wake of the financial crisis, there's been a change in how marketers leverage technology, such as local marketing automation solutions, to develop more personalized relationships with consumers. Consumers now expect companies to work harder to gain their business while offering a standard of customer service that has been unmatched in the past. It's a challenging time for financial services marketers. With tighter budgets and reduced staff, marketing is changing at the speed of light and the emergence of new and fragmented media only adds fuel to the fire.
Marketers on both the corporate and local level are focused on rebuilding a reputation that is more centered on open communication, honesty and trust. To be successful, brands need to generate deeper, more personalized one-on-one connections with consumers and consumers want to connect a face with a company's product or service. They want to do business with someone in the local community they can trust and rely on. To do this, the most successful banks and financial services organizations are abandoning the batch and blast mentality. Instead, they are leveraging technology and restructuring marketing messages to become more locally relevant and using a wider variety of media channels to drive acquisition and retention.
A recent report conducted by the CMO Council titled How Banks are Regaining Trust as the Financial Sector Readjusts, identified that 82 percent of marketers surveyed plan to increase use of new digital channels and content. The article surveyed 120 marketers from banks with revenue of $500 million to $120 billion and found that websites, social media, online and mobile segments are significantly surpassing the use of traditional print media. Because of the consumers' need to have the most up-to-date information at the tip of their fingers, financial companies are working hard to make sure that information is available with digital technology. Further, the article states that the "adept use of digital media channels for rapid versioning, content personalization, and customization relative to audience types and levels of sophistication" is needed to outperform competitors in today's market. It's important for not only banks, but all organizations within the financial services sector to reach customers through a number of different media channels to make sure the audience receives the message in the way they want to be reached.
BrandMuscle has local marketing programs for leading financial services organizations. Our solution provides a platform for corporate marketers to host cross-channel marketing materials that can be easily accessed and customized by local representatives. This allows corporate marketers to ensure that all materials distributed in the marketplace are both legally and brand compliant while giving local representatives an opportunity to create the personalization that customers are looking for, saving time and money. Click here to find out how a Fortune 50 company grew local marketing participation and increased co-op usage by using BrandMuscle's marketing solution.
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