The Why in Financial Services Marketing Strategy
How do we build a successful Financial Services Marketing strategy? First, we must answer “The Why”. Absolutely, CSC has a solid understanding of the Financial Industries. Certainly, we focus on high quality empirical and theoretical research on the demand, supply, regulation, and pricing of Financial Services. Regardless of the pillar – banking, risk management, capital markets, mutual funds, insurance, venture capital, consumer and corporate finance – the marketing strategy matters. Of course, CSC supports the technologies used to produce, distribute, and regulate these services. And, once the segment in the FI’s structure is defined, we analyze the opportunity and value of the product for those customers. It is here where a deep Vertical expertise brings absolute strength for success.
Product Development and Integration
At a macro-financial policy level, we review comparative financial systems, the globalization of financial services, and the impact of these phenomena on economic growth and financial stability. However, it is within a micro marketing strategy that CSC focuses on the creation of products, programs and strategy. Correspondingly, we study the target audience and develop the products. We focus on the customer value proposition and a strategy that delivers successful results. From a Lead Generation to Distribution channels, CSC integrates to spawn growth.
With a micro marketing and personalized approach, we develop strong targeted communications. Certainly, we know this is the way to engage the right audience. Again, integrating the ideal Verticals within a powerful global industry enhances the value of the FI. Meanwhile, CSC leverages core principles that allow for:
- definition of an audience by a specific trait, such as gender or job title or age range, and then creates campaigns geared toward that specific group
- strong communication strategy for the targeted group of consumers to get them engaged
- advertising strategy that targets a niche group that maximizes conversion
- utilization of innovation to get the customer to take action, such as purchasing
Leadership and Expertise
CSC has worked with the top FI’s in North America. We have created multiple loyalty, rewards and membership programs that reached tens of millions of customers across North America. Both, the acquisition strategy and the retention strategy led industry record-breaking figures. Correspondingly engaging a high number customers within the programs for years, while maintaining profitability.
A prominent client roster formed part of the portfolio: Citibank, HSBC, MBNA, The National Bank of Canada and Desjardins are just a few of them. Furthermore, CSC led relationships with hundreds of partners including Top 10 companies and brands from Apple to Walmart.
Transformation
The ever-changing landscape of Financial Services requires for a powerful proactive approach. CSC keeps up to date with the latest trends and innovations. We integrate this philosophy across the planning framework to optimize the customers’ journeys. Indeed, the rapid digitization of Financial Services to create convenience and more touchpoints with consumers requires an intimate understanding of this lifecycle. Of course, the objective is for the business to sustain growth in the digital space. But once the integration of the technology is in place, we execute the customer value proposition.
Certainly, we understand how highly competitive and highly regulated this sector is. Considerably, the cost per customer acquisition needs careful evaluation. As well, encouraging customer loyalty in younger, digitally savvy audiences is challenging given that new challenger banks, neobanks, and aggregator services encourage switchers to seek better deals. But what does that mean for the Financial Services marketing strategy? It means a clear analysis and development plan must be integrated within transformation framework. We encourage a Digital Transformation/ Marketing plan streamlined, processed and set in motion for success. First – for example – we define and reach the customer. Second, we act with the campaigns, ads, Meta Business, etc. Third, keep on top of the conversion. Lastly, we engage and analyze. Specifically with Financial Services, we know how cost effective this digital transformation results. In summary, understanding all the components of a successful Financial Services marketing is imperative to maximize the opportunity.
