Jul 25, 2018
Brand Awareness for financial services in the Digital Era
Brand Awareness for financial service providers in the Digital Era.
The way financial services need to tackle marketing and sales is continually evolving as we delve deeper into the digital era. Where the two departments traditionally used to be segregated and often rival one and other, they now need to work harmoniously together to be successful.
If increasing conversions by attracting more traffic is your goal, spending a fortune on a heavy sales campaign may not be the answer. While there are practical sales methods that have their place, the process of increasing sales is no longer about straight-up selling.
Allow us to explain…
The world is being bombarded with advertising noise. To shine a spotlight on your company, building relationships and brand awareness should be at the forefront of everything you do. By being genuinely authentic and putting in the effort to add value to those who need your services, you can set yourself apart from the ever-growing number of emerging competitor brands.
What is your brand?
Your brand is your presence. You don’t have a business without one. It’s what secures you a long-term position in the marketplace, and it’s pivotal to your marketing strategy. Your brand is made up of your company’s name, logo, colour themes, and company values. In a similar way to a certain pair of golden arches bringing a particular fast-food chain to mind, it’s how people recognise your brand and brand awareness is a measure of how your target market know your brand (notice the key phrase here is the right audience knowing about you).
Benefits of increasing brand awareness and brand-building
There are endless reasons as to why you should opt for a brand awareness campaign instead of a hardcore sales strategy, but here are our top four:
You’ll build brand loyalty
The more aware of you your potential customers are, the more positive sentiment you can begin to build against your competitors. In such a fast-paced, competitive industry, it is easy to lose your client base because they’ve been swayed by another brand. By selectively promoting your brand across the right channels, you build a sense of familiarity, which in turn helps clients feel safe in their decision that they opted for a well-established financial services provider. When unrecognisable brands approach your client, their allegiance is unlikely to waver.
You can become a local household name
Unless you plan on becoming a national brand, you don’t need to be the Steve Jobs of the financial services industry. You only need those who matter to know your name; those in your local community. With a more niche, smaller audience to target, you not only make it easier for yourself to be seen, but you increase your probability of success. Through word of mouth feedback, repeated exposure, and consistent delivery of exceptional service, when new customers come into position to choose a financial services provider, it’s your brand that will come to mind.
…Or at least tip the scale
Ok, let’s say you don’t make it into every household. The adage “if you shoot for the moon, you’ll still reach the stars” applies here. Investors are cautious, now more than ever, and regardless of how convinced they are about a decision, they’ll still shop around: just to be sure. In the end, gut instinct always wins out. That’s where the brand loyalty, feeling and recognition you’ve worked hard to achieve will give you the winning edge.
You can boost your digital impact
With 42 Million users on social media channels alone in the UK, having a strong online brand presence is a no-brainer. With the evolution of digital technology, consumers rely on their mobile devices and social media tools to make decisions. As a bonus to your company, users are quick to convey their feelings about your brand. It’s your job to make sure that feedback is exceptional. Giving you a constant stream of external credibility to add clout to your marketing strategy. The better the feedback, the more your brand is recognised and remembered; boosting your overall brand awareness.
Our mission here at Finance Stream is to help you grow your business by creating a powerful and impactful brand experience for your customers. We do so by creating a cutting-edge website platform to generates new business enquiries via a highly targeted and creative digital marketing campaign. To find out how we can help you, get in touch today on 01616727820.
If you need any guidance or support about your current estate agency advertising and marketing please contact our lead services team or emailing dave@financestream.co
