Marketing is at a turning point. For too long, companies have sent vast quantities of content to every prospect and customer, hoping the right people will see the information they need and choose to do business.
Unsurprisingly, that cluttered approach has exhausted the attention of consumers.
Now, forward-thinking companies are focusing on content relevance to connect with audiences in a meaningful way — gaining their trust and becoming their vendor of choice.
This is just one of the insights Bank Iowa’s VP and Marketing Director, Josh Fleming, shared with Elevate Magazine for an article about the future of marketing. Fleming joined Bill Weeks, CEO and Chief Analyst for the Gramercy Institute, to discuss the trends that will define marketing in the future. Following is a quick overview of the predictions covered in detail in “Crystal Balling, The Future of Financial Marketing”
Analytics
Today’s focus on high-quantity content will be replaced by high-relevancy content placed in front of the correct audiences. To do this, marketers need effective metrics to learn about existing and potential customers based on their interactions with specific financial content.
Digital Platforms
Younger customers prefer to bank in a digital environment. Fleming believes banks, for example, will soon invest millions more in technology, like chatbots, to create the “digital branch” experience.
New Media
Marketers are experimenting with new digital content — video and podcasts, as well as non-financial social platforms and programs — to connect with clients and would-be customers.
Data
Data will be used for customer segmentation and predictive analytics to send niche content to select customers. For example, a bank may send a short series on the challenges of homeownership to customers most likely to buy their first home in the next six months. Per Fleming, “Banks know a lot about their customers, yet few really know how to best harness that information.”
Technological Integration
Data ownership will be key as third-party cookies continue their demise. Expect to see firms ideate and innovate to capture their own first-party data.
For a deeper dive, please read the full cover story “Crystal Balling, The Future of Financial Marketing”