The Financial Brand Insights - Fall 2022

Digital Marketing The 6 Pillars of for Banks & Credit Unions

on the right channel, in the right moment and with the right message for every customer — every time. As you get started, two things matter most for every financial institution’s digital marketing plan: a compelling brand story and the ability to measure success and gain valuable insights. If your digital marketing foundation is a house built on these six pillars, your brand story and measurement methodology are the solid ground on which everything else stands. Brand Storytelling Once you’ve honed your brand story, it’s time to tell this story in digital and social ecosystems. The modern marketing campaign is a confluence of touchpoints. For example, the same creative and copy won’t work across the different social platforms, let alone other mediums. Each channel needs to optimize engagement for the exact moment consumers connect with your brand message. Effectively telling your brand story might look, sound and feel slightly different on each digital and social channel and must be tailored to how individuals consume content on each one. Even if your brand is at the right place at the right time, it takes the right brand story and

content addressing the specific financial need to ultimately connect and compel action. A nuanced understanding of your brand storytelling keeps your brand consistent as your messaging is uniquely tailored to every moment. Measurement + Attribution How are you measuring effectiveness individually by platform and across channels? To maximize return on investment, or ROI, individual wins must roll up to larger, better outcomes. Optimizing spending across all your foundational elements is part of a successful digital marketing and media plan that understands each channel’s influence in driving consumers down the purchase funnel. For example, a good cost-per-click doesn’t mean that you’re automatically converting customers when they arrive on your site. Do you take into account the loyalty and retention your organic social channels engender that lead to continued conversion on and offline? Attribution needs to consider each channel and tactic. While people convert from down-the- funnel tactics, what drove them there could be influencer marketing, paid social ads, or search engine optimization (SEO) strategies. This strategic thinking acknowledges the interconnectedness of accurate measurement

within a more extensive media mix to ultimately optimize every channel — for every opportunity. Effective brand storytelling and measurement underpin the six pillars of digital marketing that financial institutions must excel at to achieve the best results for their marketing efforts. Here is a description of each of these pillars: 1. Smart SEO Almost 70% of online experiences begin with a search engine, as reported by BrightEdge Research. SEO, in broad terms, improves the quality of organic traffic from search engines to your website and web pages. For banks and credit unions, a solid SEO strategy ensures customers can find, learn more about, invest in and share your products online. To assure strong SEO, financial institutions need to understand and improve their “E-A-T” — expertise, authority, and trustworthiness. E-A-T has been Google’s focus in recent years in order to fight misinformation online. Good E-A-T is especially critical in the finance space for what Google considers “Your Money, Your Life” (YMYL) webpages. YMYL topics are any that “could potentially impact a person’s future happiness, health, financial stability, or safety.” Money is literally in the name; keeping content up

By David Funsten Vice President for Financial Services Strategy at Amsive

The shifting economy is on everyone’s mind. As banks and credit unions reevaluate their marketing efforts, focusing on foundational areas of digital marketing can help financial brands weather difficult economic times — and put them in the best position when the forecast clears. Maintaining an impactful presence requires a financial institution to score many wins across a vast landscape of digital ecosystems. Intuitively reaching and connecting with consumers looks, sounds and feels different across platforms, channels and moments. It’s complicated, but it can be managed by breaking this process into parts. In essence, banks and credit unions need six foundational pillars to establish their brand and digital marketing. Financial brands that excel in these core areas should be able to reach their full potential and deliver a quality experience for their customers. Consider these six pillars both a challenge and a checklist to ensure that your brand shows up





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