A growing number of people are seeking help from financial institutions for a myriad of reasons. Whether it's buying a house or looking for financial assistance after losing a job, many people are in need of financial aid that the right institution can provide. However, the key to gaining people's trust and showing the value you can bring to them will depend on your marketing efforts. You can appeal to more prospects and get more business in this industry with the right marketing materials.

The following are some key things to consider when marketing a financial institution.

Increase in Demand

With the COVID-19 pandemic and an uncertain financial future, more and more people are seeking financial services. One surprising group looking for financial services is a large number of investors. Many of these typically self-reliant professionals are beginning to turn to financial planners for assistance after losing money in the fallout of the pandemic.

As a result, more demand means more competition. More competition means you'll need to work harder to keep up.

Remain Sympathetic and Understanding

When coming up with advertising ideas, it's important to be as sympathetic as possible toward your audience. You will need to be careful about the tone and messaging of your ads. Otherwise, you might come across as insensitive or out of touch. Many people are undergoing hardships at this time, so it's necessary to ensure that each ad's subject matter uses appropriate messaging.

For example, taking advantage of low-interest rates to purchase a home will look quite different depending on the buyer. Someone who needs financial advice and assistance, especially following the loss of their job, won't appreciate excited messaging around that opportunity. Your company should try to practice empathy on a regular basis with your audience, which will guide your messaging. By showing your audience you truly care about them and have their best interests at heart, you'll be more likely to win their trust.

Consider the Timing

You might want to launch your ad campaigns as soon as they're ready and have your ads show as often as possible. However, certain types of ads perform better at specific times of the day or week. The best time to display your ads will depend on the subject matter, platform, and medium of your ads. For example, you might find that a video ad with excited messaging intended for YouTube is more ideal to post mid-day.

The best time to post will also depend on the industry. In the financial industry, an Acquisio study found that clicks and impressions for ads peaked at the start of the week and declined by as much as 20% by the weekend. Depending on when you decide to post, consider the type of messaging that's best to use. Dynamic messaging can help you achieve the right tone at different times of the day based on your audience's mood.

Utilize Digital Targeting

The ROI of audience segmentation and highly targeted ads can be significant. For instance, 77% of ROI in email marketing campaigns results from sufficient segmentation, triggering, and targeting. If you take the time to make sure your ad campaigns are targeted, you can more effectively reach the ideal audience to increase revenue.

So, how exactly is this done? One of the first steps entails getting to know your audience as much as possible. You can perform surveys of current or past clients to find out what their process is for selecting financial services. You can also build personas around each type of prospect. Personas would be based on demographics, financial status, job status, and other factors that could influence their decisions and marketing strategies.

As a financial institution, try to determine who you want to market to and how to connect with each prospect. Some prospects who are in good financial standing may benefit from one type of campaign that uses more light-hearted messaging. Meanwhile, individuals who are struggling might need more sensitive messaging and engagement to earn their business. Customers who are young and single vs. middle-aged and supporting a family will also have different financial needs, which you can account for in your campaigns.

Advertise Across Platforms

It's not enough to market on one or two platforms—you should utilize integrated marketing that takes advantage of multiple channels. There are certain benefits of integrated marketing that you won't get with a limited campaign, such as:

• The ability to create more touchpoints along the buyer's journey
• A decreased chance of missing consumers
• Reaching consumers that you may not have realized could benefit from your services

With an integrated marketing campaign, you'll be able to maximize your reach and keep consumers more engaged to convert and retain more clients. A Demand Gen Report found that 75% of B2B customers used multiple sources to make a buying decision, while 77% of buyers stated that they spend a lot of time on research. Throughout the decision-making process, you need to be at the forefront to guide those prospects.

Keeping all of these aspects in mind, you can develop a marketing campaign that's equipped for success. Through sympathetic messaging, good timing, multi-platform integrated marketing, and highly targeted campaigns, you'll be able to appeal to more prospects and maximize conversions. Working with a media partner can help make sure you stand apart from competitors and optimize your campaigns.You'll be able to show up at the right place at the right time and get the best possible results from your campaigns.