Top Trends in Financial Marketing for Q2 2019
With the first quarter coming to end and volatility significantly lower, financial services brands will need to be proactive in their Q2 marketing. So what should you be doing? Our content marketing team has analysed the top trends in financial marketing for Q2 2019:
Facebook is Changing
Facebook has become the second biggest digital marketing platform in the world after Google. The company has more than 2.3 billion monthly active users. The company’s flagship product, Facebook, has gone through major changes in the past few years. In the past, the product was monetised using the Newsfeed. Today, Facebook is changing its strategy to focus more on Stories. Stories has more than 200 million monthly users and many financial services companies are using the product to reach traders and investors. In addition, the company has revealed its plans to focus more on privacy. It intends to do this by combining Whatsapp, Instagram, and Messenger. Marketers should continue to monitor Facebook news, to be first in line for any new features. Remember that custom audience advertising now requires a certified opt in like a mailing list. Be careful not to upload any non opted lists or to flout Facebook’s strict rules governing financial services products.
Regulations continue to increase in the sector. Last year, the European union began implementing the second version of MIFID (aptly named MiFIDII). After this, the union implemented the General Data Protection Regulation (GDPR). The union is now working on another set of regulations that will focus on intellectual property. There are talks that more regulations could come as the union continues its target on large technology companies. In the United States, there is also talk about how to regulate the industry. In fact, senior social media figures have all testified in congress with the privacy storm still brewing.
To prevent lawsuits, there are a few things you should do:
- Read and understand the existing regulations for your region
- Monitor the regulatory environment to identify trends and changes.
- Think of other marketing tactics you can use
- Be very careful with user data and permissions
New Platforms Coming Up
Last year, Tik Tok became a global phenomenon in the social media industry. The app became one of the most downloaded and is now used by more than 500 million users around the world. In the second quarter, you should focus on how to use Tik Tok and emerging technology platforms to boost your digital presence. At the same time, don’t ignore other millennial-focused apps like Snapchat, Instagram and Medium.
e-Mail is Not Dead
E-mail is sometimes thought of as an ancient method of marketing. However, over 2.5 billion people use email every day. 58% of people check their emails before anything else and the click-through rate is above 3.57%, which is higher than that of Facebook. It also gets more conversions. As a finance company, Q2 could be a good time to refocus on email. To avoid churn and enhance click through, you should:
- Use a unique subject – The winner was seven words for overall engagement. And if you write a subject line with eight words, well, you’re in for a shock! It’s nearly half the performance as subject lines with only one less word.
- Send just a few emails per week – people tend to unsubscribe when they receive too many emails.
- Share short and relevant content with plenty of social and blog backlinks
- Always ensure your database is opted in and never purchase email address lists.
Alternative Marketing Strategies
In Q2, embrace alternative financial marketing strategies. For example, in addition to paid search and social marketing strategies, you could embrace podcasts. In the first quarter, Spotify spent more than $300 million in acquiring Gimlet media. Gimlet is a company that has several popular audio shows. This is an indication that the podcasting industry is still growing. As a company, you can start experimenting with creating your own podcast. Alternatively, you can organise interviews with large trading and financial markets podcasts that are great for reaching your target audience.
Content marketing of course remains a pivotal method of marketing for the financial services sector. Traders and investors demand high quality content on your site, printed materials and across all communication channels. A few things to remember:
- Ensure all content is native English and well written.
- Be careful to ensure that all published content has passed through your compliance team.
- Check that you have provided social sharing options for your content.
- Make sure you have clear call-to-action (CTA) points within your content.
- Your content should be optimised for search engines and voice search.
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