With money changing hands faster and more easily than ever before, keeping up with today’s consumers can be tricky business. Consumers expect companies to meet specific demands to continue to earn their business, and the challenge for banks and financial companies is keeping up with those demands while pleasing an older demographic and the bottom line simultaneously. While banks have come a long way in a short amount of time, the need to keep up with technology is only becoming more serious as new fintech firms appear every day. With the demands of consumers, competition, and compliance, banking in today’s world presents some unique challenges to the financiers of big and small banks alike.
The important thing to keep in mind in this fast-moving age of information is that people today don’t just go to the internet, we live on the internet. If you shift your focus to thinking as a consumer and have the same expectations for your business as you would in your day-to-day interactions with other businesses, it becomes much easier to stay ahead of the game. You would never pay full price for a new coat when you could get one for 20% less on Amazon or wait 15 minutes to send a package at the post office when you can print a label at home and be done in 5. People will always be looking for the best, most convenient deal online as they shop. These are the things people have come to expect, and the way you need to think about your marketing plan in order to get consumers flooding your gates like the big bank around the corner.
Gone are the days when you’ll get someone to sign up for a new loan while they’re in your branch depositing this week’s paycheck. It’s time to find new and better ways to earn new customers and keep them coming back for more in a way that meets their busy lifestyles.
The below infographic on the finance industry highlights some of the key points from this year’s report on financial industry consumer trends for 2017. From website design through social media campaigns, Search Engine Optimization, targeted email campaigns for new loan consumers, and much more, the report highlights all of the latest, best practices and some tips to get you ahead of your competition!