In the past, customers often trusted banks on the basis of their scale, professionalism, and history. Today, customers are more likely to measure the trustworthiness of a bank based on their customer service and support. Customer-centricity is likely to be the key to winning over customers again.
In the wake of the Royal Commission, where the reputation of financial services institutions is at an all-time low, marketing leaders have been asking themselves: “How can I convince our clients to trust us now? Where can we spend our marketing dollars in a way that will yield a positive return?”
In the financial services industry, converting leads to customers is vital. But with the speed of change in the marketing and technology space and in the wake of the Banking Royal Commission, marketing leaders in the finance industry are overwhelmed by the challenge of managing a genuine experience with their target customers, thus improving lead conversion.
Australian banks and financial institutions are losing the faith of the consumer. It isn’t a problem of regulation or profit alone. It’s a problem of public perception.
Poor culture leads to poor conduct. Following the release of the Commissioner’s final report, it’s clear that businesses need to get their culture and governance right.
Digital marketing has taken over traditional marketing channels as it’s more engaging, more flexible, and it costs less. We’ve put together a list of brands that are standing out and cutting through the noise with their digital marketing campaigns.
Why are 82% of marketers expecting large increases of their digital marketing budgets come 2019?
The financial services industry is suffering from a crisis of trust. In fact, 47% of their customers say they do not trust their own financial provider. How can the industry recover from this damaging fact?
Trust-building should definitely be part of the equation. Trust is a fundamental element that factors into almost every buying decision for a customer.
B2B marketers will confirm that outbound initiatives simply aren’t good enough. If you want to attract, nurture, and convert your leads to customers, inbound marketing is your powerful strategy. Gartner reports that properly executed inbound marketing tactics are 10x more effective for lead conversion compared to outbound methods.
Take a page out of these 10 businesses who successfully grew their business through inbound.
Financial brands are already fast-tracking the adoption of social channels in their marketing strategy in their quest to personalise the customer experience.
We’ve gathered the top 10 social media trends financial services need to know in 2019.
The time for fintechs is here. In the past few years, we’ve seen how fintechs have grown into an industry that has transformed how we look at financial services today.
We’ve just come out of Roy Morgan’s State of the Nation, focusing on consumer financial behaviour in Australia, and we wanted to bash out our very own ‘quick and dirty’ update on the key insights as we saw them.
In today’s crowded marketplace, the need to stand out from the competition is crucial. But more importantly, in order to win, Financial Services companies need to look into existing challenges that may be stopping them from achieving true differentiation in their industry.
Invisible Marketing is the messaging customers don’t see. And this is the key to a step change for the Financial Services industry.
At Step Change, we deliver it through a workshop on behavioural economics, and it’s one of our most intellectual perspectives on marketing. Our clients usually ask us, “How do I apply invisible marketing to our brand, products, and our marketing?” Well, if you have a product that isn’t tangible, or if you need to elevate your brand to number one, this is a critical thought process for you.
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