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Why Orchestration Matters for Financial Services Marketers
In the last decade, most marketers have faced challenges around evolving audiences and market conditions. But few industries have changed as much, and as quickly, as financial services.
Just a few years ago, most significant financial transactions were offline, and service areas were largely defined by geography. A significant part of the value proposition for a financial services provider was based on personal relationships and in-person communication. With the shift to digital, consumer behavior and expectations have changed significantly. Now, consumers can go online and select a financial service provider from anywhere, in just a few clicks.
For consumers, this is convenient! For financial services marketers, who suddenly find themselves in an exponentially more crowded field, with fewer opportunities to differentiate? Not so much. The plethora of online choices often leads to consumer perception that financial services are a commodity with little meaningful distinction between providers. Meanwhile, bypassing the in-person experiences that have traditionally been financial providers’ strength means that consumers will have fewer touchpoints with a provider before they make their selection – which means fewer chances to reach them with messaging.
This new normal means there is little margin for error. Financial services marketers must reach their target audience with compelling, differentiated messaging that helps them understand the value of their offering vs. the competition. Campaigns must be well-strategized, on-brand, and operationally effective, And that, in turn, requires excellent orchestration of marketing efforts.
That’s easy enough to say, but what does it mean in practice for financial services marketers?
We spoke to over 1100 FinServ marketers over the past year about the challenges they experienced, and their biggest pain points in trying to orchestrate marketing. Nearly all of them, we learned, faced the same three pains:
- Differentiating the message and staying ahead of new rivals
- Organizing content and campaigns efficiently and effectively
- Tracking ROI and attributing new business to marketing
We dive into these questions – and how to address them – in our new ebook How Financial Services Marketers Can Win the Marketing Orchestration Game. Download it for free to learn how to overcome marketing orchestration challenges common to the financial services industry, and how to use orchestration to successfully execute on your marketing strategy.