The retail banking industry is highly competitive; it is difficult to stand out from the clutter of brands offering identical banking services and products. To succeed, a brand must effectively differentiate itself. An integrated and targeted marketing plan is critical for success, and advertising will continue to play a key role.
Learn about the key trends in advertising and marketing in the banking industry.
Utilize strategies to improve the effectiveness of your marketing.
Understand customer behavior and attitudes towards online and mobile banking advertising.
Discover how providers are aligning their advertising with their strategic objectives.
What strategies do banks need to adopt to be more successful in marketing?
What trends will influence the future of advertising in banking?
How will changes in consumer behavior and attitudes affect advertising?
Which advertising channels will offer the best opportunities in the future?
Providers need to increase the focus on advertising through digital channels. As more customers go digital, the audience for marketing on online and mobile channels continues to grow, increasing the opportunity for marketers. Marketing on digital channels will become particularly important if customers' branch visits continue to decline.
In order to increase sales, banks need a 360-degree view of their customers' financial situations in order to deliver personalized and relevant marketing material. Big data can provide information on consumer behavior but it does not provide the insight into motivations and attitudes required for customer engagement and satisfaction.
Using celebrities as brand ambassadors can humanize and boost the popularity of an organization. Marketers in other industries have demonstrated that celebrity ambassadors can assist in improving brand awareness, brand equity, and even financial returns. Santander has pioneered in the UK by using celebrities in its marketing.