Inbound Marketing is a very effective, marketing method based on modern-day human behavior. This is especially true when it comes to banks and other financial institutions. Online and mobile banking are on the rise in response to customer demand and expectation, yet the marketing strategies of these institutions remain the same. While traditional marketing methods like TV, radio, and newspaper ads seem to be “tried and true,” they just are not where the vast majority of consumer attention is: the smartphone.
What exactly is Inbound Marketing?
Inbound Marketing is a paradigm shift from “seller-centric” marketing to “buyer-centric” marketing. As online consumers have taken control over the buying process, this adaptive methodology aims to meet your ideal customers where they are searching online and to attract them to your business.
Why do banks need inbound marketing?
Banks who are looking to build relationships and establish trust with their ideal customers should look no further than the inbound marketing methodology. It all starts with creating a well-designed, mobile-friendly website, as well as a helpful blog and social media presence.
Additionally, supplying your desired customer base with helpful information goes a long way when it comes to establishing trust, building an online community around your bank, and becoming an industry thought leader.
Inbound marketing strategies for banks
Let’s take a look at a few common inbound marketing strategies that will work wonders for your bank:
Your potential customers are looking for bank experts that they can trust. Your bank is asking families and businesses to trust you with their financial stability. There is no better way to establish trust with your potential customers than with regularly published content that is helpful to consumers and answers their questions.
Banks also need to be publishing helpful content on social media sites, like Facebook and Twitter. Using social media, you can introduce yourself to your target demographic. By publishing helpful content on social media that resonates with consumers, you have the opportunity to have them visit your website, call, or stop by for an in-person consultation.
Search Engine Optimization (SEO)
94% of B2B buyers do online research before making purchasing decisions. This holds true for potential bank customers as well.
Before deciding to trust your bank their money, most people will research their options on Google. Search Engine Optimization, or SEO, allows you to target keywords and phrases related to your business that relevant searchers may use. When potential customers search online for answers to their banking questions, your bank needs to show up ahead of the competition in search engine results pages, or SERPs. The higher you rank in search results, the more likely people will be to click on your website and find out more about the services you provide.
Pay-per-click (PPC) advertising
Pay-per-click, or PPC, advertising allows marketers to select keywords and phrases for which they want their advertisement to display. If their company has the highest bid, the ad will appear at the top of search results, above the organic results.
A significant, money-saving advantage that comes with PPC advertising is that you only pay when someone clicks on your ad. So you just pay for your ad if people are clicking on it.
A common misconception is that organizations that are ranking with SEO don’t need PPC advertising. While searchers are more likely to click on organic results, SEO does take time to start seeing increases in organic traffic. With PPC advertising, you acquire instantaneous, qualified traffic to your website.
PPC advertising helps banks drive traffic to their websites while they work on ranking higher in organic search.
As a bank, email newsletters are crucial for interacting with your customers. There are plenty of ways to encourage people to sign up for your newsletter. You can collect email addresses when you set up a new account, and you can also include forms on your website for people to opt-in to receive email updates.
Once you have an email list, you can then send out regular newsletters to keep people informed and engaged with your bank. Also, you can send out helpful articles and event information.
How does Inbound Marketing benefit banks?
Competition is fierce in the banking industry. Banks are a dime a dozen, giving consumers countless options. It is more important than ever to make your website stand out from your competitors. Inbound Marketing creates a connected experience and provides your potential customers with the information they need to make an informed decision while establishing trust and a lasting relationship.