5 Channels every financial services marketer needs to connect with customers

Your customers … they’re everywhere at once it seems, and you need to meet them in all the hot spots. So, what’s a FinServ marketer to do? While we believe in mastering each channel before adding the next, we also suggest you start where your expertise, resources and partners shine.?

Here are five top channels—both digital and physical—that FinServ marketers need to master to create a seamless journey for your customers and prospects while gaining some ground on your competitors:?

1. Social media. Digital marketing is still in the lead, and financial services are leaning in hard, with 72% of FinServ companies saying social is at the top of their list for ad campaigns. Meanwhile, adults are only spending 62.1% of their daily media time with digital channels. That’s a nearly 10% overreach in ad spend. Now what??

1. Direct mail. It’s been tried and true for decades, and even younger generations appreciate a well-placed message in their mailbox, with 57% of 18- to 34-year-olds saying direct mail is extremely or very useful. With personalization tactics available at scale, it hits the mark even more effectively. And your prospect is even more likely to remember it. In fact, 75% of consumers said they can recall a brand after receiving a piece of direct mail, compared to only 44% recall after seeing a digital ad.?

1. TV. If traditional television ads are dropping off, connected television (CTV) is ready to pick up the pace. In fact, CTV gains will make up for traditional TV ad spends, which are expected to drop from $60 billion in 2023 to $54 billion in 2027. Meanwhile, CTV will bump from $24 billion to $42 billion in the same timeframe, according to eMarketer. This is a highly competitive channel and ad inventory is tight, but CTV is the future, and marketing budgets will need to adjust.?

1. Email marketing. Love it or hate it, you gotta have it. Financial services marketers have proven to be quite successful at pairing email with other channels. In fact, 57% of 18- to 34-year-olds and 51% of 35- to 49-year-olds say they get the “right amount” of email communications from FinServ brands. Plus, they’re more likely to respond if they see a FinServ offer across multiple channels, including email, online and direct mail.??

1. In-branch. While the demise of the local branch seemed fait accompli a few years ago, here come heavy hitters like JPMorgan Chase, which announced it will open 500 new branches by 2027. This follows other creative in-person experiences, such as Capital One Cafés, which offer working spaces and personal finance mentoring. “Gen Z is really pushing banks to transform and offer the best of both worlds—digital convenience as well as meaningful in-person connections,” says Erin Slater, Head of Financial Services Strategy at Quad.?

To learn more about omnichannel financial services marketing, read the full article.