Digital Marketing for Banking, Finance Services and Insurance (BFSI)
There’s no denying that the BFSI sector being one of the earliest industries is a generally risk-averse one. The industry is often widely acknowledged for its calm and composed nature. While all other industries experienced explosive bursts of uneven growth and development, the BFSI has been somewhat of a straight road, serene, consistent and balanced. No other industry has seen the levels of constant growth that the BFSI have. That is why now is a better time than ever for the industry to explore digital marketing. The BFSI sector is unable to tap into a really humungous customer base due to their old-school marketing techniques. Brands literally have no idea of the opportunity they are missing out on. What then must be done to tap into this potentially huge market?
Digital Marketing is the answer. If you investigate, you very soon come to the realisation that the BFSI sector is one of the very last to embrace digital marketing. Every other industry has embraced it with open hearts and have also been extremely satisfied with the results. Social media marketing, SEO, CRO etc. go a very long way in generating clients. It doesn’t end there either. Digital marketing also allows you to address customer grievances faster and more efficiently, hence increasing client satisfaction. This leads to a significant boost in brand value.
Thus, as the consequence of internet usage, the marketing experts in BFSI sector have access to consumers’ behavioural patterns on a larger scale for the first time. By correlating the transactional and interactional patterns of a consumer, financial experts can yield amazing insights that certainly expands the horizons of the business. Digital marketing is our inevitable future due to its potential to generate and merge several tools that maximise the profits. For instance, accessibility to immensely large data and radically evolving analytical solutions is revolutionising the BFSI sector by creating incredible consumer profiles, which would have not been possible without digital marketing.
Why Digital Marketing for BFSI ?
The best part, it’s cheaper. Far cheaper than traditional marketing methods. The deal is in-fact too good to be true. There’s traditional media losing its consumer base each passing day and there’s the modern, online media gaining hundreds of new adopters every single day. Digital marketing has proven to be one of the, if not the best lead generating marketing strategies to ever exist. However, since most brands in the sector have begun to realise this, the industry sees more and more adopters of this brilliant marketing strategy. Needless to say, any brand which doesn’t adapt, will be left behind to bite the dust. The modern BFSI is continuously investing in creating and maintaining a solid digital architecture and digital marketing is no doubt one of its fundamentals.
Advantages of Digital Marketing for BFSI
There are several reasons that explain the relevance and importance of digital marketing for BFSI sector. Some of the advantages of digital marketing are listed as below:
- Digital marketing helps to develop brand awareness by having a strong presence on social media. Also, online conversations enable the marketers to identify the current BFSI trends as well as the consumer behaviour.
- Digital marketing helps to identify the potential BFSI customers by analysing the interactions on social media. Unlike conventional strategy of sending cold emails to enquire about in personal loans, educational loans, housing loans or insurances; analysing the user data on social media helps to generate leads that are more personalised.
- Digital marketing simplifies performance tracking and BFSI consumer behaviour analysis processes. This in turn extends the scope for continuous improvement.
- Digital marketing is highly economical compared to traditional marketing techniques. It saves a lot of money that would have been spent on printing cost, display banner cost, transportation costs etc.
- Digital marketing has the ability to reach a large number of audiences compared to conventional marketing. Multiple types of consumers can be addressed through digital marketing.
- Digital marketing is pertinent as the consumers these days spend a lot of their time on online platforms. Also, it is highly beneficial in gathering customer feedback and in providing continuous support.
- Digital marketing helps to identify potential BFSI influencers on social media. By recognizing influencers based on their popularity, qualifications and their followers on social media, you can decide the most suitable influencer for your target audience.
- Digital marketing ‘informs’ about a product, rather than ‘selling’ it. This helps a great deal, as BFSI consumers feel they are not ‘forced’ into buying a product, especially when large amount of money is involved.
- Digital marketing helps in identifying your BFSI competitors and their strategies to attract consumers, through their social media activities.
Our Digital Marketing for BFSI services
Adsyndicate is a long time expert in all forms of digital marketing and the BFSI sector is no different. ADCODE, the marketing pioneers of Adsyndicate offer exceptional digital marketing strategies. Why are we a good fit for the modern BFSI? Maybe it’s the accounts of the subsequent revenue we’ve generated for them through well planned and accurately executed digital marketing strategies such as content marketing and website management. Or is it because our long established proficiency in digital marketing services such as SEO, CRO or social media marketing? Or maybe, just maybe, it’s our long time experience in the sector working with highly reputed institutions like the RBI, SBI, PNB etc. among various others. We’ve already proved that we’re experts in our field. Now, we’d like to help you achieve the same results our existing clients have.
The seeds sown by digital marketing are the roots to any modern business, regardless of industry. The BFSI, due to its contemporary nature, has been among the few industries that need to be given a little push to adopt modern marketing strategies such as digital marketing. Adsyndicate and ADCODE are here to give more than just a push. Contact Us today!
AdSyndicate is ranked among the most preferred Digital Marketing Agency in India. With a wonderful team of dreamers, achievers, believers, innovators and endowed individuals, we have been winning hearts and writing successful stories in the Advertising and Marketing domains since 25 years.