How to market your financial services in an age where no one pays attention

So, Superdrug has announced it’s stepping away from TV advertising. Not front page newsworthy I grant you, but it highlights a big shift in the marketing world. The high-street staple said its business no longer needs the small screen for growth. A surprising statement I would say, given it spent millions sponsoring Love Island in recent years – a big gig by any standards.

This raises the question though, does TV advertising even have an impact anymore? When was the last time you paid attention to a TV advert? That is, if you even watch TV with adverts at all these days.

Chances are, you’re probably not. And even if you find yourself presented with an ad-break, I bet you look at your phone until the show restarts. ?This isn’t to say we’re not consuming entertainment – far from it. It’s just that the mediums we use have changed everything.

The Broadcasters’ Audience Research Board found overall video viewing habits rose during the pandemic. But, those under 25 are watching less broadcast TV than in 2020. In fact, the younger you are, the less likely you are to stick to old-school TV habits. Last year, Ofcom found an astonishing 96% of children aged 5-15 watch any type of video on demand. We’re all streamers now, with platforms like Netflix and Amazon Prime being notoriously light on adverts.

This big shift happened relatively quickly and the question remains, how do we market to new generations of investors who have been numbed to advertising?

How to grab attention where no attention exists?

This question is made more complicated by the fact that attention spans are narrowing globally. A study from the Technical University of Denmark found the amount of time we give to topics has plummeted in recent years. We’re being bombarded with so much information, it’s impossible to give everything its due.

If we can’t reach youngsters through traditional means, we’ll have to approach them on their terms. By now, we’ve all had plenty of practice on social media, but there’s no escaping the reality that these platforms are designed to thrive on the fleeting.

A hashtag can sweep the world within minutes, but how many are remembered when the moment’s passed?

Is there anything that can be done?

There’s no point focusing on what used to work. Marketers – and businesses at large – are going to have to adapt. Material should be as clear as possible and get straight to the point.

The real differentiator will be what happens after the fact. Attention spans may be declining, and future generations may not be able to take any advert lasting longer than 30-secounds seriously, but what remains important to people is unlikely to change. Information moves at lightning speed, but human nature drifts along at a glacial pace.

All marketing can sound relatively same-y, especially in financial services. If you take the time to back that up with truly impeccable service, that’s what’ll catch your clients off guard. Not the catchy slogan or clever advert you’ve put weeks into.

Focus on building a bond. It may sound cheesy, but the human element of service is sorely needed in the modern world. I can’t tell you how many times I’ve begged the universe for a human to deal with when facing a chatbot. Get to know your client. Educate them. Keep them up to date with what’s going on in the industry. Learn from them.

It’s the basics that get people to stick around. Attention spans may be on the decline, but nothing focuses the mind better than sincerity. Even if all you’re doing is utilizing a small window of consciousness!