Financial Services Marketing Takes Out the Rally Towels for Consumer Education
Social media and other digital platforms have made it easy for banks, credit unions and card issuers to present financial expertise as a resource for consumers. They’re sharing tips and recommendations on everything from how to save and budget to how to be safe online and at ATMs. These financial education efforts not only benefit consumers, but they also make strategic marketing sense. They can enhance product awareness, build the brand (through an association with a net positive: financial wellness) and nurture customer relationships.
This kind of engagement can help to establish trust, as well, and — as #BankSocial reports in an article shared by CBInsight — “every banking relationship is built on trust.” From a bottom-line perspective (the mortgage crisis hasn’t yet faded from memory), trust matters greatly. Financial brands want to “be there” for consumers not only at point-of-sale but also at key moments in their lives, such as home ownership and retirement.