In the digital era, every consumer navigates their own individualized buying journey using multiple channels to interact with various financial brands. Typically, they conduct a ton of research on their own before they are ready to engage. Why? Because trust in financial institutions, lost during the financial crisis, is still low. People need to investigate their options to gain some level of comfort with a banking provider before initiating a conversation — the trust just isn’t there.
Given these challenges, filling the sales funnel today requires more sophisticated inbound and outbound marketing by financial institutions — strategies that will address both the increasingly complicated digital customer journey and the broken trust consumers feel.
Generally speaking, people want three things in life: health, wealth, and happiness. Banks and credit unions are in a unique position to help them reach these goals. Money is stressful, affecting people’s emotional, mental, and physical well-being. Just ask anyone who lost money during the Great Recession.
So how can banking providers earn consumers’ trust while automating a complex digital marketing strategy? By leveraging digital marketing strategies focused on platforms (technologies) and pathways (consumer journeys), then applying the following three concrete tactics.
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