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Financial Marketing: How Can It Help You Generate Customers?

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Financial Marketing: How Can It Help You Generate Customers?

In our current society, there are still people who believe that marketing consists solely of advertising a product or service to promote its sale, but in my opinion and experience it goes far beyond this simple concept … Will I keep telling you?list_altIndex of contents
Definition: what is financial marketing?
Challenges of financial marketing
Advantages of financial marketing
What to consider before implementing a financial marketing strategy?
Financial marketing strategies
If you have come this far it is because your answer has been affirmative, so let’s get started!I believe that the marketing that is practiced today should be understood as the discipline in charge of satisfying the needs of customers . That is why marketing is based on the needs of your buyer persona and on studying what your goals and pains are.On the other hand, the financial field is one of the most complex sectors of our society, as it is subject to great changes, fluctuations and ukmobilenumbers that are produced by a large number of factors.In addition, it is a very competitive and still traditional sector, in which large banking and financial entities increasingly need to differentiate themselves from each other, so it is essential to carry out innovation processes, both in products and services, as in customer service, attention and communication .And this is when the greatest opportunity for financial marketing is born. Know your keys!Do you like what you are reading? Subscribe to the blog!
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Definition: what is financial marketing?
Financial marketing is a branch of marketing that is responsible for the study and positioning of banks, the image of entities, the determination of prices, the design of distribution channels , as well as advertising campaigns and product promotion. and services offered by financial entities.

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For a financial institution to achieve its objectives, it will be essential to design a marketing strategy, that is, a set of promotional and advertising actions and a study of the environment.In financial marketing it will be necessary to know the needs of each type of client and offer financial products and services according to their demands . As you can imagine, financial marketing plays an important role in the Betting Email List segmentation process, so its effectiveness depends on a true culture in the banking organization.When talking about financial marketing, it is important to take customer banking into account, as it is a fundamental instrument of financial marketing. In customer-facing banking, the big goal is to establish a lasting relationship with the customer and make that relationship as profitable as possible.There are three fundamental pillars in customer banking:Customer orientation
Technical competence
Offer highly personalized quality services
Challenges of financial marketing
The fundamental strategies to carry out an efficient financial marketing go through:Change the business model.Orient the business model to an increasingly younger audience.
Create new digitization systems.
New call-to-action
Advantages of financial marketing
In line with the above, financial marketing aims to determine the actions to be taken in the markets and the latest trends. Among the main advantages of its application we can find:Capture customer and third party data.
Segment audiences and access a larger audience.
Generate greater customer loyalty.
Increase market share.
Build customer trust.
Generate products with a low perception of risk.
What to consider before implementing a financial marketing strategy?
Before launching a financial marketing strategy, there are a few points we must address:Analyze the market in which the product and / or service is located, as well as the competition.
Highlight the price over the rest of the elements, since this factor is a tool for attracting and retaining customers, so it must be attractive and accessible to consumers.
Identify the target audience and their reasons for purchase , and choose the right message senders for the advertisement to impact in the desired way. For example, if we want to reach young people, it will be easier to attract their attention by creating content on a blog that answers their questions than with traditional advertising or through mass media. An example at this point is the PepePromedio blog , which brings together financial concepts in a clear and very didactic way.
Select the appropriate means of communication for the advertising message to be effective.
financial marketing average pepeOn the other hand, financial marketing has new technologies as an ally, since they represent a great opportunity to improve the quality of banking products and services , thus allowing the offer and its scope to be expanded.Financial marketing strategies
Depending on the needs of the environment and in accordance with the characteristics of competing banks, entities can develop the following strategies:Cost-based strategies : we seek to have the lowest possible costs. It is about charging differently to the different categories of customers, depending on the level of use of the services.
Differentiation strategy : it seeks to improve the brand image and it is about giving a quality image. New technologies are a great opportunity to improve the quality of banking products and services, allowing to expand the financial offer and the markets in which the different entities can operate.
Segmentation strategy : consists of adapting banking products to each customer segment, understanding by customer segment a group of customers with common characteristics.
In short, in the 21st century, any sector needs marketing strategies to be able to get closer to its potential customers. Even those sectors that may be more traditional will need to be modernized if they want to reach new audiences and attract younger customers .

And precisely digital marketing and inbound marketing offer them these possibilities without having to be aggressive towards the consumer, do you agree? I invite you to continue talking about it in the comments section!

 

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