These days, marketing communication is more dynamic than ever. Working from the ideal of simplicity, industry, and clarity, the modern age of smart technology, state-of-the-art applications, and social networking, promotes an ideal “hands-free” philosophy. The credo of this philosophy is efficiency. It holds that each interaction and transaction should be streamlined. It’s a type of contemporary idyll; a belief in a fully interconnected and mutually understood society. The financial services and fintech sectors are dynamic by nature. Agility and flexibility are key to staying ahead of the competition and tuning in to what clients want.
In reality however, what we often have is a communication entanglement more akin to a four-way interchange in an American megapolis. Like commuters at rush hour in Los Angeles or New York, financial services companies can make the mistake of communicating haphazardly by using short-sighted methods to create momentary relief. At best, these strategies provide temporary solutions for long-term problems. We’ve identified a few techniques that you can use to better navigate this communication traffic jam and establish more agile relationships with clients and other stakeholders that complement the ethos of fintech.
Get to Know your Clients and Stakeholders
Your clients and other stakeholders are part of your multifaceted company. They’re a team of diverse interests and resources. The more you know them, the better you’ll work well together. Do they read the Financial Times or Zero Hedge? Do they follow Twitter pundits or Tumblr bloggers? It’s essential to keep up to date with client expectations – they now have the ability to compare services and choose those that are better, cheaper and faster at the click of a button. Developing a customer-centric strategy enables companies to treat clients as co-managers of the business.
Network! Network! Network!
Connecting with clients through the joined-up use of the various marketing channels across multiple platforms can go a long way to understanding expectations. For example, creating an open and transparent online community where members can engage in various finance topics will help develop a genuine and personalised client experience. All social media channels will assist with this – Twitter is great for news bites and friendly conversations, Tumblr is for those who are more art-orientated, Facebook and Instagram can easily help you keep track of the behavioural patterns and interests of “on the go” clients. The ‘Grand Dame’ of digital communication – e-mail – is still highly relevant and can provide a valuable hub for all other digital channels to feed off.
Tune-in and Spot the Trends
Once you’ve got an understanding of clients and stakeholders, you can start expanding your reach. Data and back-end intelligence gained from social media feeds and posts can be invaluable in developing new client services and providing new sources of potential clients. Web tracking will allow you to see who and what is being looked at on your company website and provides you with options for contacting the individual at a later date, either by a telemarketing call or email. These examples maybe considered slightly ‘Big Brotherish’ but it’s about utilising the technology that is now available to us. In essence, financial services companies who adopt an agile fintech approach to servicing their clients can now deliver a truely fintech approach to marketing their business.