Partner Article
Financial Services Marketing Tips
Urban River is an established creative design agency and being a service based organisation ourselves we understand the difficulties financial firms face when marketing and selling services.
We have experience of working with financial organisations and have come to realise several marketing challenges in the sector. Take a look at the following financial services marketing tips which offer advice on how to overcome some of the common issues.
Need to appeal to a wide variety of audiences
Most accounting and finance companies offer an extensive range of services to various different audiences and sectors and it can be a massive struggle appealing to all. A lot of firms don’t fully communicate their services effectively and make the mistake of thinking that their clients thoroughly read company literature and website information, but, the truth is that customers need reminding of what is available to them. So what is the best way of keeping your audiences interested? One effective way is to meet with your clients face to face on a regular basis. This gives you the opportunity to chat about problems the client is currently experiencing and present them with solutions, suggesting appropriate services and informing them about the extent of your firm’s capabilities. This also allows you to build confidence and trust with the customer so that they will be more inclined to come to you when the time arises rather than look for a new firm.
Struggle to differentiate yourself from other firms
When you’re competing in a highly competitive industry with lots of other firms offering virtually the same services it can be tough to differentiate yourself. You can’t rely on your high quality customer service or experienced staff to win new clients because it’s not enough. Our advice to you is to avoid generalising and start specialising. Show that you have expertise in a particular sector, type of client or solving problems and this focused approach of identifying specific areas that potential clients can relate to will give you competitive edge.
Not enough time to devote to marketing
This is a common issue and one that’s not just applicable to the financial sector. People lead busy lives and on the priorities list marketing is often down at the very bottom. Devoting little time and attention to marketing can result in poor messages being sent out, the wrong impression of your firm and ultimately a loss in potential business. Marketing plays a critical part in promoting your services, boosting sales and building your company’s reputation. If you haven’t got enough time to deliver a focused and strategic marketing plan then it is well worth appointing a member of staff who can or seeking the help of a marketing agency who can provide support and advice.
Confused and unsure about the best channels to reach customers
A lot of accountants rely on word of mouth referrals to reach new customers. Whilst this is an effective way of winning business there are many other channels you could be utilising to help secure new leads and see your business grow at faster pace. Keep your business in the minds of potential and existing clients by using a mix of channels to maintain regular contact with them. Marketing approaches such as telemarketing, email marketing, direct mail, networking, public relations, exhibitions and trade shows work well. Be sure to invest time in your website too, it’s usually the first place a prospect goes to when looking for information about your firm so it needs to looks good and create a positive image. Remember that whatever marketing channels you are using your messages should be consistent and complementary across all.
Brand image and website aren’t reflective of the quality services provided
You’re a well established leading firm with a great reputation but does your branding and website reflect this? Your brand identity and website should instil a prospective client with confidence and trust and if it doesn’t then perhaps it’s time for a refresh. Put yourself in the shoes of a prospective customer and consider what impression they will get from your overall image and website. Your branding and marketing communications should be strong, clear and distinctive and should give a client faith in your organisation. If you offer a broad range of different services and departments your branding could be developed so that each offering has its own colour or icon which can then be reflected online and in print, making it easier for customers to understand what you’re firm is all about. In terms of your website you should be aiming for something that is fresh, contemporary, easy to navigate, optimised for all devices and which portrays the personality of your firm, making you stand out from the competition.
Conclusion
The above marketing issues in the accounting and finance industry are extremely common but they all can be easily resolved. The tips we have provided should help you to assess and streamline your current financial services marketing efforts.
If you would like some further advice please do not hesitate to contact us on 0191 423 5688
This was posted in Bdaily's Members' News section by Urban River .
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