Engaging customers, both new and existing, can feel like pulling teeth for financial companies nowadays. With the rise of the customer-centric economy, people expect personalized, on-demand interactions from all brands—not just the Big Tech players. So how can banks, fintech, credit unions, and even DeFI firms rise to meet these growing expectations and make their users excited to interact with their products/services? Let’s dive into a few strategies.
Segment and Specialize Your Marketing Outreach
Gone are the days where you can just send out blanket promotions and hope that they hit the mark. The customers of today demand a lot more than that, specifically when it comes to communications catering to their specific niches, needs, and interests.
If your target market is fintech adopters who prioritize sleek digital experiences, then it's going to be best if you tailor your marketing strategy to highlight intuitive mobile apps and seamless account opening experiences.
If you’re in the DeFi space, you're going to need a blockchain marketing strategy that speaks directly to their concerns. In this case, you may want to play up things like transparency and security for the crypto crowd, detailing blockchain protections and your decentralization efforts. At the same time, these messages will be completely lost to someone uninterested in the Web3 space.
As always, it pays to know your audience - so drill down into the key demographics. Young investors may be cost-conscious but risk-tolerant, valuing fractional share offerings from disruptors like Robinhood.
Near-retirees may want retirement planning and portfolio protection. Here, outline annuities and capital preservation funds that guarantee income for people depending on nest eggs in volatile times.
Consider diverse locations and languages as well - are you connecting with rural communities? Speaking to recent immigrant groups through multilingual touchpoints? The more you segment and specialize your marketing efforts, the better.
Add Interactive Elements and Gamification
Let’s be honest—static content doesn’t fully engage anymore in the TikTok era. Bring financial concepts to life through simulations, live quizzes, an friendly competition through gamification.
To give some examples, investment apps could incorporate fantasy trading leagues where newcomers track other people’s portfolios. Get people active in the experience!
For account holders, create gaming aspects around saving goals too. Set up digital “jars” for vacations, weddings, etc. that people contribute towards for rewards. Encourage consistency through points systems that unlock real perks. Making progress visible and fun drives motivation.
One thing that many brands have found success with is tying rewards to financial literacy education for new account holders too. Not only does this help money concepts stick better, but it aids with compliance and demonstrates to regulators that you are taking user education seriously.
Facilitate Sharing and Conversation
Humans naturally want to connect with others regarding financial matters because money impacts almost all life pursuits, including well-being and security. Yet, discussing finances still feels taboo to some. That’s why branded online forums, webinars, and social media groups resonate by providing judgment-free spaces where people can open up.
To take it one step further, you could Invite account holders behind-the-scenes too with exclusive virtual events. Let them engage experts through live Q&As and AMAs. Make it easy to participate through apps and tools with frictionless access.
Thought leadership positioning also helps to cement your role as a trusted advisor too. Share investment philosophies, fraud warnings, and tips aligned to audience values. Facilitating two-way conversations through consistent digital engagement makes your brand part of people’s financial lives.
Lead with Emotional Storytelling
Facts and figures don’t stick with people...but stories do. Plant memories by showing how you’ve helped everyday users overcome obstacles or achieve meaningful goals. Maybe it’s assisting special needs families with securing care resources through insurance proceeds. Or retirement planning that enabled a couple to finally sail their dream boat in the Mediterranean after years of working. When people see themselves in examples, that forges powerful connections.
Weave in how you navigated recent societal challenges too, like helping businesses access loans or other lines of credit during the pandemic. People invest in brands aligned with their values and principles, so showcasing your positive impacts through storytelling really helps to create those deep emotional bonds.
Adopt Cutting-Edge Technology
Today's customers expect financial products and services to continually upgrade technologically. After sticking with the same bank for 10 years, account holders don't want to log into an interface that hasn’t been refreshed since opening day. Nothing frustrates people more than outdated digital experiences in the era of lightning-fast innovation.
With this in mind, financial brands should obsess over CX improvement by rapidly adopting emerging innovations like AI and automation. Chatbots utilizing natural language processing can provide personalized support and financial advice at scale. Intelligent algorithms can perform rapid fraud detection and hyper-customize product recommendations for each individual.
Be proactive here - run small beta tests with willing groups open to new technology. Involve users early for productive feedback, not just after the fact when they’re already irritated. The truth is, pursuing a culture of experimentation and adaptation sets firms up for long-term relevance, compared to rigid bureaucracies that always seem to lag behind customer expectations.
Final Word
The world of finance is evolving faster than ever before. If brands want to keep up, then they must abandon the old school way of thinking and start embracing the customer obsessed mindset of today's most successful companies. This means going beyond just offering financial products. Instead, this means offering hyper personalized experiences that are interactive and woven into the fabric of people's lives.
By segmenting your marketing, adding gamified elements, sparking open conversations, and leading with cutting edge tech, you can transform your brand from a faceless money management service into a trusted partner.
