A closer look at current trends in the financial sector, and how digital disruption is opening up new opportunities for those that want them
Digital disruption is nothing new. Underpinning just about every technology upheaval, mobile advancement and data-driven decision of the last decade, the ongoing threat, or opportunity – of digital disruption is simply a symptom of our modern environment.
The financial sector, steeped in prestige, heritage and trust, isn’t exactly an industry that changes with the seasons, dashing from trend to trend. However, the power and influence of digital has left no corner of the commercial arena untouched, as it undeniably moves forward, progressively changing the way we interact with services day-to-day.
As a direct result of this, the financial services are adapting, and digital trends are disrupting the sector. Want to get ahead? Read on to find out more about how different digital practices are changing the face of finance.
Pictures speak a thousand words, and videos speak more. It’s no secret that video content has become one of the most popular ways to digest digital information today, with easy access to it across social media and with mobile devices that can more than handle it. The financial sector has reacted the same way, with its video content up 632% in 2017 and it being twice as likely to get shared than other content.
However, not all is lost if you haven’t yet made the impact you’d like to in this particular sector, as less than 2% of financial businesses would judge their own content marketing efforts to be ‘highly effective’.
By taking hold of the reigns now, and creating some high-quality, search engine optimised content of varying mediums, you can get ahead of the curve by being one of the first established publishers within the industry.
Search marketing is also enjoying its time in the sun in the financial sector, with 47% of website’s budgets dedicated to SEO. This is not surprising, given the cost-effectiveness, branding-building qualities and return-on-digital investment that a successful search engine optimisation strategy can bring.
Going hand-in-hand with a solid content and publishing calendar, SEO is one of the best ways to organically encourage conversions through increased web traffic. Expect to see more and more well-respected financial institutions turning to search marketing tactics in the coming months. The increase might have been brought about by brash, aggressively-expanding financial tech start-ups, but it’s now ingrained into the mass culture of the major players. So much so, that most financial brands plan to increase their search marketing investments by 40% every year.
Time to make your digital disruption move by investing in search marketing today. Speak to one of our experts in the field.
Social media is one area of digital disruption that has perhaps experienced the most ‘noise’ globally, and finance is no exception to that rule. The public are constantly falling in and out with social media, flitting from preferred platform to another, and then back again. One thing is for sure however, and that’s whether your audience is on Twitter, Facebook, or Instagram, social media is still hugely popular, with 40% of the global population using it as of 2017.
The pictured painted by the financial services’ interaction with social media is similarly varied, with a 44% drop in content published since 2014. However, this could reflect quality content edging out more lacking, thin content after weaker publishers either failed to adapt to video or long-form copy content, or simply became inactive on social. Further statistics back this viewpoint up, as promoted financial services content generates 21 times more interactions on Facebook and 12% of investment professionals have made an investment decision after reading Twitter.
Pair this with the rising stats in both video and written content, and you’ve got a sure-fire cue to take hold of quality content creation in the financial sector.
According to Econsultancy, 73% of financial company’s rate email marketing as ‘excellent’ or ‘good’ when it comes to ROI. In addition to this, email hits the spot with the financial sector’s audiences, having an impressive 32.6% open rate and a 3.1% Click-Through-Rate.
Social media, SEO, PPC and more are all part of the modern digital toolbox that will unlock your audience and open up a new space for interactions, conversions and sales.