FINNOVATIONAL MARKETING STRATEGIES
“It is not the strongest of the species that survives, nor the most intelligent that survives, it is the one that is the most adaptable to change.”- Charles Darwin
After the digital transformation, at global and national level, we have entered into a digital world, where there is a benchmarking of modern marketing creating, a new legacy for finnovational techniques very rapidly.
Warren Buffet, CEO of Berkshire Hathaway mentioned the fact that digital transformation is a fundamental reality for businesses today. Due to hike in digitization, a major shift has been noticed from traditional financial services consumption towards modern finserv exposure and expansion. The competition began during the start of 21st century due to Liberalization, privatization and globalization of economy. Now the big tech giants like Google, Amazon, Alibaba etc. are competing to prove their existence value amongst the customers by producing financial innovative products and providing services to them.
In terms of marketing strategies, it has been observed that ‘word of mouth’ and social media publicity has played a crucial role to make Fintech trendier. Entrepreneurial finnovations are basically based on some of the elements like organization’s goals, target markets, emerging competitor’s business strategic insights, SWOT analysis, and availability of resources. These things help in developing some of the most effective strategies for making marketing plans efficiently, especially in a growing stream like fintechs.
Oguz konar, President at LMS, has also thrown light over some of the effective finserv marketing strategies that could be a disruptive innovation to generate more sales, thereby creating more profit for financial companies. Search Engine Optimization (SEO) comprehends both creative and technical elements to improve financial marketing site’s ranking. Pay Per Call (PPC) marketing services help in generating inbound leads. Business lists provides new entrepreneurial link with potential finserv customers, so that services could be prevailed accordingly. Proper continuity needs to be maintained in testing and refinement of advertising criteria. Finance companies need to essentially focus on handling follow-up calls and research needs to be done for more enhanced digital marketing, with the help of social media. Blogging creates a progressive way towards finding out quality leads by replying FAQs related to finserv. Infographics. A newcomer probably to marketing strategy has a reach of 54% more than blogs to the minds of customers and a completion rate of approx. 73%, according to bank innovation survey reports. Therefore, these are some of the useful strategies for enhancing finnovative marketing strategies.
“We have decided that the actual digitization is not our core competency. What we want to invest all efforts in is adding value on the top of that content.”- Danielle Tiedt