Traditional marketing cannot help brands attract customers and achieve other business goals in the competitive landscape. They need to put in more hard work and effort to reach out to the leads across channels. When discussing multiple platforms, we cannot ignore the massive Internet where millions of potential customers reside every time. So, digital marketing is gaining an impetus for the betterment of every business: small or large.
As time advances, digital marketing trends change, and the industry becomes more challenging. A business that walks hand-in-hand with the transformations can survive while the others might perish in the long run. So, marketers, brands, and industries like BFSI should stay up-to-date with the latest digital marketing trends to get the most out of it.
Do you think about the top digital marketing trends for BFSI in 2022? We are here to help you!
The following article describes the leading BFSI digital marketing trends you should follow in the new year. Whether you are a BFSI business owner or a would-be marketer enrolled in a digital marketing associate course for beginners, these trends will direct you on the right path.
1. A push for unique digital marketing campaigns
Do you know? Financial institutions spend half of their marketing budget on digital media. It indicates that digital marketing is a growing aspect of the BFSI sector. Most, if not all, financial businesses are already inside the digital marketing arena.
So, it’s high time for institutions to stand out in the industry with unique digital marketing campaigns. They must create a strategy that no one has heard before with robust narrations and better tactics to attract new customers in a short span.
2. Chatbots to get mainstream
Nearly 68% of consumers prefer chatbots to get quick responses. And, 34% of customers can comfortably talk to AI chatbots than human agents.
Chatbots are the next big revolution in retail, healthcare, and BFSI. These AI machines are next-level service points for financial institutions. They can offer a better customer experience and drive massive engagement that no one could do so far.
Also, chatbots have better data management capacities across platforms. So, it can help businesses, and marketers get meaningful insights on digital marketing campaigns and make excellent decisions.
3. Precise targeting and customization to become popular
Every customer wants personalized services when they visit a financial business. Nowadays, they prefer engaging with companies offering tailor-made services while overlooking the others. So, modern digital marketing campaigns focus on precise customer targeting and customizations to optimize engagements.
Marketers use various platforms to identify potential leads and target BFSI marketing campaigns for more conversions. Once the communication with prospects begins, the digital marketers illustrate different customization services to bring them down through the sales funnel.
4. Machine Learning and Artificial Intelligence
Another significant trend for BFSI is using Machine Learning and Artificial Intelligence in digital marketing campaigns.
Financial institutions feel challenged to identify potential customers for campaign targeting. Also, they cannot track the marketing efforts and draw meaningful reports. Right here, AI and ML step forward.
These technologies can help collect and analyze customer and digital marketing campaign data to derive meaningful business insights. So, the BFSI can make better decisions using AI and ML platforms in their digital marketing campaigns.
5. Search Engine Optimization to take center stage
93% of check-cashing consumers, 81% of loans and mortgage consumers, and 54% of tax return preparation consumers did not have a single provider in mind during online searching.
So, appearing higher on the Search Engine Results Page (SERP) and becoming visible before potential customers are beneficial digital marketing strategies for financial institutions. So, SEO is gaining an impetus in the industry.
6. Omnichannel marketing
Customers have multiple points to know about a bank, from social media to websites and more. Marketers and financial businesses should consider all platforms and prepare robust marketing strategies for all media.
Such a homogenous marketing campaign will help them attract customers using any media and bring better business to doorsteps. These reasons make omnichannel marketing a buzzword in the BFSI sector in 2022.
7. Customer engagement and experience
As the industry competition increases, financial companies have no other option than to please the leads. Consumers will convert more and engage with businesses offering better experiences.
So, one of the most important digital marketing goals in 2022 is customer experience and engagement.
Marketers can work on personalized campaigns and message delivery to attract more customers. Also, they can ensure that the company offers a better CX to them than any other competitor in the industry.
8. Voice search optimization will grow.
As voice search becomes popular among customers, they will leverage it to know about a banking service online. So, voice search optimization will become a more robust digital marketing campaign in 2022.
Digital marketers and companies will implement new tactics to appear higher on voice search result pages. It will help them drive more traffic and conversions effortlessly.
9. Consistent messaging across channels.
The number of channels through which customers will interact with a bank will increase in the future. So, they should ensure the delivery of consistent messages across all channels and to all customers. It will help them build a better brand reputation and equally spread awareness across all platforms.
10. Mobile marketing will become more powerful.
Smartphones will become the most significant revolution in the BFSI digital marketing game. Marketers and companies should target mobile devices and create specific strategies to attract mobile audiences for a better business.
Most banking customers remain available on mobile. So, banks focussing on mobile marketing have better chances of generating higher revenues than other competitors in the BFSI sector.
Indeed, the BFSI sector has become more challenging than ever. Financial institutions require investing in digital marketing to get better business. The above trends will help them achieve all the business goals they have chased for eternity. Let’s watch out and wait for more digital marketing trends to emerge to better the BFSI sector in the upcoming years.