The financial services industry including insurance providers, banks and investment firms—account for a major part of the overall economy. The competition among the sub sectors and sectors of the industry is very fierce, though on the macro level they remain indistinguishable from each other in terms of products and services.
Everything happens very fast in the industry today (be it product promotions and product development) and judicious marketing managers understand that it is possible to foster the demand for products among buyers even before the actual launch. Marketers can actually control the entire environment by dishing out effective marketing strategies. So, how exactly do you intend to improve your marketing ploys this season? Are you trying out the measures mentioned below? Let’s take a look at what they are:
Monitor your strengths and shortcomings
You need to give your customers or prospects a solid reason to do business with you. How different are you from others? Which motivational tactics have you adopted to egg your employees on? Why should the customers trust you and not others? One of the major reasons why consumers would prefer to continue doing business with a financial institution is because the firm has been able to survive several economic cycles to be where they are today. Your legacy turns out to be one of your biggest credentials. You might hire a swiss marketing agency to take care of the ever evolving business needs amidst a fast paced commercial environment. However, you need to ensure that you are never losing the personal touch with clients. When you are analyzing your company’s strengths, make sure you are judging whether, at all, your promotional campaigns have been able to touch clients personally or not.
Consider strengthening your creative marketing abilities
Financial service providers, in general generate a greater number direct mail and e-mails (as far as marketing is concerned) than other businesses. However, the quality of creative marketing is generally considered to be very poor across various sectors. However, as per experts, you are required to pay attention to your creative work while luring consumers as well. Try to steer clear from anything that’s too technical but ensure that you are able to convince people to trust you with their money. If you are saying that you are offering a smart investment choice then back it up with due proof— reviews, investments of previous years and personal testimonials etc.
Consider introducing incentives
If you are heading an insurance company then you can benefit by introducing incentives for your policy holders. It’s supposed to be a tried and tested ploy— you should definitely try it out once! Please do not forget that the customers that you already have, are your client’s prospects. Keep rewarding them for their loyalty and keep on introducing constant improvements in your business.
Hope the tips mentioned above would help you in your quest for more clients for your business. Can you think of any other measures which can help you strengthen your strategies as a financial marketer?