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5 Banking Marketing Trends You Should Know to Keep Your Business Ahead of the Pack

Banking Marketing Trends
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Digital transformation continues to wreak havoc on the financial services industry, forcing banks to modernize and leverage new technologies. This is especially true when it comes to marketing your bank and its services. Prospects are already bombarded with advertisements daily, making it even more challenging for banks to stand out.

To succeed in this increasingly competitive environment, you need to keep your finger on the pulse of new trends and best practices that can help you improve your marketing strategy and drive performance. In this article, we share some essential banking marketing trends that will continue to expand and influence how financial institutions market themselves in the coming years.

What is the Banking Marketing Trends You Need to Follow?

Banking Marketing Trends

Banking Marketing Trends

Digital Advertising and Marketing

Digital marketing and advertising will continue to grow in its impact and importance over the next 12 months. One key trend that has already been a major disruptor for the banking sector is the growth of programmatic advertising. In recent years, programmatic has contributed to a major shift in how banks source, buy and execute advertising campaigns for both online and traditional media.

Another major shift in the digital marketing landscape is the continued growth of the use of artificial intelligence (AI) and machine learning in marketing. This is already having a major impact on the creation and execution of content, including advertising creative, landing pages, and email marketing campaigns.

Voice-Based User Interface

As banking moves towards more digital interactions, voice-based user interface (UI) and voice recognition technology will become increasingly important. This is especially true as banks and financial institutions look to enhance customer experience and convenience through voice-activated services.

As such, voice-activated digital banking assistants are poised to become more and more common. This technology is designed to allow customers to access information and complete transactions through voice commands. Viable solutions are now available to help financial institutions build and deploy their digital assistants.

 

Banking Marketing Trends

Banking Marketing Trends

Marketing Automation

As banks reach a point of high digital adoption, marketing automation has emerged as an increasingly important trend in banking marketing. Automation software and tools are designed to help marketers create more personalized, relevant experiences for both customers and prospects.

They also help individuals within your organization stay organized by eliminating the need for the manual execution of repetitive tasks. While marketing automation has been a key trend for several years, banks have only recently started to fully adopt it. This trend is expected to continue, with a projected increase in the use of marketing automation across the financial services industry.

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Virtual Reality and Augmented Reality

The rise of virtual reality (VR) and augmented reality (AR) has already made a major impact on multiple industries. As these technologies continue to evolve, financial institutions are likely to embrace them to enhance customer experiences and improve functionality. Automated teller machines (ATMs) are already being outfitted with VR functionality to help customers learn how to use these machines and provide assistance with basic banking transactions.

This trend is expected to continue to expand, with VR and AR also being applied to online and mobile banking to enhance customer experience. Additionally, VR and AR will likely be used to create more personalized and targeted marketing campaigns. This can help banks reach and engage with customers in more effective ways.

Real-Time Communication

Real-time communication is taking a larger role in the banking sector as more consumers rely on instant messaging apps such as Facebook Messenger and WhatsApp to communicate with banks and financial institutions. Real-time communication has been a trend in the customer experience space for some time. However, it has recently gained momentum in financial services as more banks have come to rely on Facebook Messenger to serve customers.

As a result, more financial institutions have begun using this platform to interact with customers. This trend is expected to continue to grow as more banks look to reduce call volume and improve customer experience by reaching customers through the channels they prefer.

Conclusion

Banking is a competitive industry, and you need to implement new strategies that can help you keep pace with your competitors. This includes implementing the latest banking marketing trends to create a more effective strategy. This article has provided insight into the latest trends that can help you stay ahead of the competition. Now is the time to explore these trends and implement new strategies to help you boost performance and improve your relationship with customers.

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