The tools and trends affecting the financial marketing realm are cropping at a significant pace. If you are a marketer who cares about return on investment (ROI), you should be aware of the following three trends/tools.
Advanced Analytics
Big data, which comprises both unstructured and structured data, is a gold mine to be tapped, especially if you are in the financial services domain. Marketers have always had some trouble or the other utilizing big data since they did not have the modern tools to sieve through all the information and use the data in a meaningful way.
However, with new software and tools having entered the market, big data has become a lot more accessible. Several companies have started to learn how to use prognostic analytics and assess the buying patterns of a customer and predict other products they could consider purchasing. With more marketers being able to understand company data a lot more efficiently, marketing decisions are bound to get better with time.
Video Technology
Videos have been viewed as effective marketing tools for some time now and the trend isn’t going anywhere anytime soon. Video attracts a lot more Internet traffic now than it used to a few years ago, and the traffic numbers are only expected to go up in the future.
Video has also made an impact on both the media and social landscape. For instance, Facebook opened lives streaming to its users when it realized how important the feature was. As a result, the world of news reporting changed significantly, as reporters are now using live-streaming tools and features to offer their viewers unprecedented access to breaking news stories.
Relationship Marketing
As the cost associated with acquiring individual customers keeps increasing, companies have been putting a lot more emphasis to ensure their customers return. Relationship marketing is certainly not a fresh concept. It is based on creating long-term buyer engagement and stronger loyalty and not quick individual sales.
This marketing approach helps firms make sure customers connect to their brands strongly and on an emotional level. This brand connect would drive lead generation and word-of-mouth marketing. The primary difference between current relationship marketing and yesteryear CRM strategies is the disparity in the channels and tools available for execution.
To do relationship marketing well, a firm should rethink the manner in which it does its business, so that it could enhance the relationship’s value for the particular customer. Data, social media and technology have helped with relationship marketing initiatives, as you can now track, store, and assess before utilizing different levels of customer information.
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