Ogilvy once said “a good advertisement is one which sells the product without drawing attention to itself”. Digital marketing is able to do that in a way never before possible; people are used to consuming information, recommendations and content daily in digital formats. Their communities are often online, and digital marketing entrenches itself in their lives and platforms with ease. The ability to interact with your favorite brands creates fans, rather than just buyers.
Digital attraction is all about empathy, compassion and ease. The secret to attracting clients digitally is establishing relationships, this is done by creating well thought-out customer journeys that help your buyers follow a path that suits their needs and desires and helps them find the information they want at the time they need it. Just like in-person sales requires patience and timing, so too does digital attraction.
AI, and digital marketing tools can help you personalize and customize the digital customer journey, helping you bring in new business automatically. There are a variety of great platforms that you can leverage to attract banking clients including; Facebook, Instagram, TikTok, YouTube, Google and Twitter. Demographics can be selected by age, area, household income, job industry and even potential interest in your products or buying habits.
Build your personas
You’ve probably heard your CMO or Marketing Director talking about personas, but what are they and what purpose do they really serve? Buyer personas help you understanding who you’re really targeting, are they young, rich, do they have children, what do they like to do in the evenings, what social platforms do they use, do they go to the cinema, what do you they do first thing in the morning? It may feel like a tedious task, but building your buyer personas helps you create targeted ads that will resonate with your audience, and will filter out ads that attract people you aren’t looking to attract.
Buyer personas also help you define the conditions of your attraction techniques. For example, if your buyer persona gets their information from Facebook, and is online from 7 – 9 in the morning, you now know exactly on which platform and at what times you should be advertising. If your persona (or ideal customer) is about 50 years old, has a house worth $500,000 and a job that pays $50,000 a year, you now have the demographics you should be targeting in your ad campaigns.
Find your customers
Demographics should influence the ads you show. For example, on several platforms, you can choose to target people by their current life experiences, such as someone about to have a baby, get engaged, or buy a house. Ads shouldn’t just be thrown out to all demographics, rather, they should be defined by target, if you’re targeting young parents or people likely to have their first child soon, you’ll find more success when using an advert about savings accounts for children than an advert about getting the most out of retirement. It seems obvious, but each ad should be honed around each target audience and should be tweaked based on outcomes as your campaigns happen.
The next stage once you start gaining buyers digitally is taking the list of buyers won through digital marketing and making lookalike audiences on each platform. Lookalike audiences will target people similar to those you already sold to, creating a continuous loop of successful marketing. Use data to understand which adverts are most effective and what type of people they are effective for, this helps lower ad costs and ensure high ROI.
Retargeting is one of the most cost-effective ways of marketing. Your prospects need to interact with you several times to build up trust before buying, this used to happen by placing ads everywhere and spending a fortune on traditional marketing channels. Digital retargeting supercharges that process, so your brand can interact with your prospects across YouTube, news outlets, Instagram and more. By installing platform specific pixels on your website, you can retarget buyers across the internet, speeding up the buying process and increasing customer touchpoints.
Beyond social media, the Google Display Network gives you the opportunity to be in front of your users at every turn. Google Ads is no longer about search results. GDN gets your ads on websites of your choice, and on the websites your users love the most, including across YouTube channels they love.
Dynamic ads are a common tactic used by clothing and makeup brands. Rather than showing every user the same thing, you can show specific “products” to buyers that are most likely to want to buy those products. For example, you can leverage both dynamic ads and retargeting to show someone who’s shown an interest in your 0.5% interest rate savings account but didn’t sign up, a 0.75% interest rate savings account that they can sign up for today. In the same way, you can show a different client who showed an interest in loans a product ad for great loans your business is offering. In this way, each potential client is targeted with products they’re genuinely interested in. By segmenting your services into “products”, you can be one of the first to leverage targeted advertising in the form of dynamic ads, showing users the adverts they’ll genuinely be interested in.
I’ve included a few marketing terms and functions that can be leveraged in Google Ads below, hopefully, these will help you find your audiences and attract new business digitally and effectively.
In Market Audiences
Target people already in the market for financial services, these people are ready to buy.
Find the websites, YouTube channels and phrases your buyers are following and advertise to them through those channels.
Target people with similar traits to your current buyers to increase market share.
We all feel it, that annoyance when a sales person calls you, or a marketing robot sends you out some irrelevant email that just clutters up your inbox. As a brand, it can be hard to know when to reach out to prospects in a way that will help them warm to you. Leveraging high-value, informative content can help you bridge the gap between stranger and fan. Providing genuinely useful content that adds value to your users lives not only helps attract new users, but also helps create brand affinity and encourage loyalty.
High value content includes whitepapers, blogs, videos and social posts that contain information your target audience will find useful in their lives. When sending out newsletters, many brands make the mistake of rushing in with products. Sending out useful content to your newsletter lists will help create a future customer, rather than alienate a potential one.
The same high value informative content you send to your email lists and use to attract clients in your outbound digital advertising can also be leveraged to encourage inbound leads and clients. Inbound marketing involves drawing customers in with great content and can be a highly effective way to create lifetime bonds with your audience. It’s also, fortunately, extremely simple and leverages content you’re already going to be creating for your outbound digital attraction.
Any content you make to attract digitally can then be shared on your website, and with well thought out SEO and social media, you can reach your user base at the times they want to see you most.
SEO is search engine optimization and includes three main components: technical SEO, onpage SEO and offpage SEO. Technical SEO is how your website technically works; is it fast, is it safe? Onpage SEO is how your website content is structured. Onpage SEO includes titling your content and images properly, ensuring there’s enough words on the page and making sure your content is laid out in a nice, readable manner. Offpage SEO is helping Google see that you can be trusted as a source, for example, do reputable websites link to your content because they believe your content is valuable? If so, Google is more likely to believe that you’re a valuable source of information that its customers should be accessing. Reaching out to website owners to fix broken links that once pointed to you is one example of offpage SEO. Leveraging SEO and social media to make sure your users get to your information at the right time in their life and customer journey can help you build an automatic funnel of consistent and loyal buyers.
Automated CRM and Onboarding
Depending on how your processes work and who your clients are, you may be able to onboard prospects digitally. Enabling a smooth onboarding process will help encourage digital attraction. Users are no longer used to having to speak to a human being on the phone to be able to set up tools, this includes financial tools. All the effort and money spent on attraction can easily go down the drain if onboarding isn’t seamless.
Alternatively, if your clients are businesses or extremely high value customers that need to be spoken to, implementing a smooth CRM and automated follow up process can help ensure you’re not losing business. It’s essential people don’t have to wait around to hear from your team, and automating the response process can help speed things up for them.
CPQi have the solution
While it’s true that it has become harder to attract clients in the traditional ways banks are used to, it’s also become easier in many ways for those banks who take advantage of the great digital attraction techniques available to them. Building a bond between you and your potential clients has never been easier for those banks willing to adapt to the new world. We can help you attract, onboard and retain clients in this new world.
From apps, to websites, to digital channels and attraction technologies, our developers and AI engineers are here to help you connect with your clients, ensuring they bring their friends and families along with them. Book a free consultation here to speak to one of our team and start your digital attraction journey now.
This whitepaper was written by Paul Morris, North America Sales Manager. To speak to Paul further on this topic, email us at firstname.lastname@example.org to schedule a call today.