The Financial Marketer Mindset: Standing Out in a Crowded Field

Trust is key in financial services, and educating yourself on what erodes trust and how to strike a delicate balance between the use of technology and the human touch will set you ahead in the game.

With so many players in the field, it’s easy to want to over-communicate in an effort to make your messaging stand out. This strategy is not recommended, as it can antagonize potential clients and will not help to elevate your brand.

Think quality, not quantity

The fact is, less can be so much more when it comes to communicating with clients. Professional investors are being bombarded with so much content that they can’t process it all. Over saturating your customers with content can also work against your interests too. After all, producing content can be a huge drain on resources.

Dial up trust, not just data

Trust remains a big issue in this industry. After regaining some footing in the aftermath of the financial crisis, trust in financial institutions took a tumble in 2018. Why does this matter? Customers aren’t just loyal to the institutions they have faith in – 31% are likely to recommend those trusted institutions to others. And when it comes to building trust, human interaction is still key, according to Edelman’s 2018 Trust in Financial Services report. For example, nearly a third of respondents in the Edelman survey said it was vital to interact with a real person when receiving advice.

Focus on the how and the why — not just the what

There was a time when clients only wanted to bottom-line things: What’s the return? What’s the risk? And how much will this cost me? In recent years, however, clients have begun caring about purpose and process as much as results. You can thank the growing influence of Millennials. Now it’s about more than just the what, but the experience you provide a client along the way.

This blog was inspired by our latest piece of research, The Financial Marketer Mindset: Technology’s Impact on Marketing Strategy. We interviewed marketing decision makers from financial services firms to get their thoughts on how technology, if used properly, can help marketers confront some of the biggest challenges they face today.