Most marketing sucks, said Christopher Lester, Founder and Chief Strategist for C4ward Strategies speaking on stage at the Financial Brand Forum 2019. A majority of people (91%) say ads are more intrusive now than they were two years ago. So, how is it possible to reach out to consumers without becoming just another part of the noise?
FCTI, Inc. launches 2nd annual white paper analyzing current financial institution targeting and advertising techniques.
Gary Vaynerchuk is an influencer, five-time best selling author, investor, and serial entrepreneur. Vaynerchuk, or “GaryVee,” has millions of social media followers and a penchant for the occasional f-bomb. But there is one thing he isn’t…afraid.
“Social media is a risky place to be.” ~ Claudia Sandino, VP of Social for Sterling Financial.
Which is one of the main reasons many financial institutions have such a difficult time using social networking platforms to their fullest capabilities. Despite the possibilities of creating connections, promoting financial wellness, and generating brand awareness, the prospect of security and compliance issues can be daunting.
A value proposition is the ‘essence of strategy’ – a statement that represents the core strategy and describes the distinctive competitive advantage of your business. Originally coined in 1985, a ‘successful’ value proposition should act as a foundation for ongoing relationships as well as a way to communicate true differentiation from the competition. (Frow et al. 2014) In fact, a study performed by the CTBC Financial Management College in Taiwan found perceived value is the most important aspect in generating brand loyalty.
Businesses are investing in self-service. The Harvard Business Review
has reported digital app orders for Taco Bell average 20% more
in revenue than orders made at the store (SalesForce). According
to Food Tech Connect, 35% of 18 to 34-year-olds like to use smartphones
or tablets to place their orders. 40% would rather make a
mobile payment as well.
Consumers are becoming increasingly reliant on self-service. And their attitude toward financial services is no different. But, with more account holders turning to remote and digital solutions, how is a financial institution supposed to stay convenient and top-of-mind?
More than sixty percent (60%) of those 25+ would prefer companies to contact them through email, according to the Adobe “Email Use 2017 – US Report”. There are 3.7 billion worldwide email users and around 3,104,450,712 legitimate emails sent every hour. Experts anticipate continued growth in active email accounts from 6.32 billion to 7.71 billion by 2021.
You are 475 times more likely to survive a plane crash than click a banner ad, according to Business Insider. Or 31.25 times more likely to win a prize in the Mega Millions. Or 112.5 times more likely to complete NAVY SEAL training. You get the idea. Advertising isn’t what it used to be.
Millennials (1977-1995) and Generation Z (1996 to 2015) will represent nearly two-thirds of the world population by 2019. These two generations have hardly lived without computers and smartphones and have heralded the wide-spread use of tablets, smart phones, social media, and texting. They have also brought forth increasing consumer demand for security, personalization, and self-service.