A new year means new opportunities to reflect on what has worked for your bank, and what changes you can implement today to boost your customer growth and revenue. At WSI, we like to do the same. That’s why we’re looking at what marketing trends flourished in 2022 and what you should keep an eye on in 2023.
Successes of 2022
Marketing strategies have catered to a more tightly networked audience as the world has begun to reemerge from the COVID-19 pandemic.
- ✍️Content Personalization. A little personal touch goes a long way, especially regarding your customer-facing deliverables. Personalized content can draw attention and increase engagement. In fact, 72% of consumers report only engaging with content that has some customized personalization. Automated marketing solutions have made personalized messaging simpler and more effective than ever.
- #️⃣Social Awareness. Over the past few years, most Americans have found themselves online more often than ever. In 2021, the average person spent almost 3 hours daily checking their email inbox alone. This increased online presence has made many consumers more aware of national and international news and movements. Successful marketing strategies have begun highlighting social and political values that a business shares with its customers.
- 💻Machine Learning. The popularization of AI (artificial intelligence) technology has opened new doors for analytical work in marketing. Machines can gather, sort, and display demographic and behavioral information in a fraction of the time it would take a team of human workers. Quick access to relevant information has helped banks pivot campaign tactics on short notice to meet the most up-to-date needs of their customers.
What to Watch for in 2023
As you turn over your calendars, it may also be time to turn over a new leaf in your bank marketing strategy. In 2023, marketing strategies you might want to focus on include:
- 🤝🏽Influencer partnerships. With the rise of TikTok and other social media platforms that target younger generations, so too has risen the popularity of influencer marketing. Seeking established creators who are local to your market (or product focus) with a strong voice and relevant fanbase can reduce the time it takes to garner attention or collect a sizable audience. You don’t need to target high-profile celebrities to try out influencer marketing. Recognizable figures in your own community can often reach your intended audience just as effectively.
- 📱User-generated content. Word-of-mouth marketing has always been among the most effective types out there. This fact only becomes amplified on social media. Encouraging customers to make their own content related to your bank, whether through a fun trend or requesting feedback on a new feature, can get your brand in front of new sets of eyes. With the wide variety of content that the public can generate, you might even pick up some new advertising ideas along the way!
- 🔒Customer privacy. With the high-profile data leaks of the last decade, consumers increasingly feel that their activities, both on the Internet and off, are being tracked by corporations. For this reason, taking steps to ensure customer privacy, and boosting them, can be a major draw for your bank. If you’ve fazed out cookies on your website, or offer some other data protection from third-party sources, make sure your users know that.
2023 Marketing Trends: Putting the Customer First
Overwhelmingly, the landscape of the marketing industry for the upcoming year focuses on placing the customer at the center of the banking experience. With so much information (and false information) constantly in everyone’s faces, there is a growing need for content that stands out from the crowd and relates to your particular community.
Previously, we talked about introducing new users to your bank with familiar faces, from recognizable figures to the tellers at their local branch. Using people that your customers will see in real life can make your brand seem more approachable.
This year, consider building on that idea by inviting your customers and employees to make content entirely of their own. While a dance challenge or an audio-based TikTok joke might not seem to apply to your bank at first glance, you might be pleasantly surprised by how much more engagement you gain from letting consumers tie your bank to trends they already know and enjoy.
Build Your Bank’s Success with WSI
2023 is certainly shaping up to be an exciting year for growth and innovation in your bank’s marketing strategy. At WSI, our team is prepared to help your bank keep up with every new turn of the marketing landscape. We specialize in branding strategy and web content creation for banks that brings clicks to your website and feet in your doors.
Let us put our combined 30+ years of banking and digital marketing experience to work for you. Start a conversation with us today!