Investor Insight: Digital Marketing Trends in the Banking Service Industry

Talha Tamboli | August 18, 2021

With the growth of social media and a slew of technological changes, banking has changed the way it functions. Just as online shopping and e-commerce are boosting sales, similarly social media, blogs and the technology for sharing videos are also creating buzz about specific brands and products. Businesses need to adapt and keep up with the changing trends in digital marketing.


Digital marketing trends in the banking industry is becoming increasingly important

Everybody's digital today. Virtually any bank will have a digital presence from social media to PPC ads across Google and Bing. Most banks believe that their digital marketing spending must be increased and efforts must be across every digital platform to make their advertising more efficient. The number of digital advertising and marketing companies now accounts for more than 50% of their marketing expenditure, compared to 14% of 2017. The similar banking marketing trend has occurred in mobile marketing, which spends less than 40% of its budget but is increasing.

Although the importance of digital marketing trends in the banking business demonstrates increased competition, it also makes it harder to distinguish. This means that banks must take uniquely different techniques, showcasing consumers and success stories, bringing value to market offering, and making the most of a highly competitive digital world utilizing non-traditional awareness campaigns instead of normal publicity campaigns.


Transition from paid to owned media

Paying or buying media is called paid media where investment is made through search, showing ad networks, or in the form of affiliate marketing where one can pay for visits, audience reach or conversions. The big share of paid media spent is still crucial to conventional off-line media such as printing, TV, and direct mail. Owned media is the brand's media. This includes online company websites, blogs, and mobile apps on Facebook, LinkedIn or Twitter. Brochures or retail outlets may feature offline-owned media.

While neither is new, digital marketers are clearly warming up banks' options for both owned and paid media. Financial institutions may use these sorts of media to organize their media activities and use the media mix according to their marketing plan and budget.


Marketing to Gen X and Y

As millennials continue to age into their 30s and 40s, banks must adapt to the needs of this increasingly powerful consumer market. As more millennials reach credit age, they must have access to affordable banking products from a wide range of sources. Recent research shows that young adults are three times more likely to engage in a high-cost activity like signing up for bank loans and credit cards than their elders were at the same age. In the last five years, the overall number of bank account applications has increased by 165% -- faster than any other age group, according to a report from ‘The Financial Conduct Authority (FCA).’

As the baby boom generation draws closer to retirement, banks have to figure out how to serve this growing generation of consumers. Marketing to millennials is no longer exclusively about offering something free or cheap -- think free travel or goods in exchange for checking out their accounts. Instead, examine how you can develop engagement with millennials as part of your overall banking experience and marketing mix. This includes pairing social media presence with mobile apps that allow millennials to check out different accounts or receive personalized services from banks.


Consider a branded experience

Fintech is a fast-paced field that allows users to interact with financial providers through apps and websites. The FinTech industry is growing rapidly, with a global reach and diverse competitive landscape. The FinTech culture is evolving rapidly  regarding the customer base, service level, and governance factors. Digital transformation affects how organizations deliver services, deliver value and target their campaigns toward potential or current FinTech customers. Leveraging on the FinTech culture makes it possible for organizations to re-imagine their approach to customer service in a way that optimizes both results and cost-efficiency.

There’s been an explosion in the world of FinTech. And not just in financial services but also software for everything from e-commerce to real estate. There has been a real shift in how people look at financial products. People want to feel comfortable investing their hard-earned cash in FinTech products -- including cryptocurrencies. It seems like everyone has an account at a financial services company. And they want access to new types of financial products that give them a branded experience. These services are designed to make it easier for ordinary people to get money from the banks, but not so easy that they miss out on exciting opportunities.


Invest in personalized ad campaigns

Personalization is the big concept behind any digital marketing campaign. It’s about figuring out which audience matches your interests so you can deliver the right product or service at the right time.  In other words, personalization is about understanding your customer and discovering what makes them tick. How w0uld you know which customers will respond well to your marketing efforts is simply by understanding their specific needs and then tailoring your message to fulfil those needs.

There is a growing shift from basic data science to more sophisticated personalization. Data science is an incredibly powerful way to understand your customer’s preferences, psychographic traits and other data points. Applied in the right way, it can provide a strong push toward providing more relevant content, special offers and better customer service. The challenge is applying that knowledge in a way that totally works for your bank.


Integrate Digital Marketing Search Optimisation for banks

The difficulty in creating effective digital marketing search strategies lies in the fact that customer expectations have never been higher. With e-commerce on the rise, customers expect to find what they are looking for quickly and easily. As a result, SEO strategies that are once suitable for traditional search engine optimization (SEO) are now impacting organic search results. The problem is that it can be difficult to determine which approach will deliver the best results for your business through digital marketing search engine optimization (SEO).

Banks are beginning to pay more attention to digital marketing. They understand that by providing their customers with easy and convenient access to information. They will be more likely to spend money on the products and services said company offers. Digital marketing is not just about getting people to read blog posts or engage with social media pages - if that were the metric, everyone would read everything online! Instead, it’s about getting people who might not otherwise engage with business opportunities, or simply wouldn't know where to start looking for information.


Maintain focus on customer experience and commitment

The customer experience is the heart and soul of every bank’s digital marketing effort and every bank should strive to provide this level of customer service consistently. The digital marketing trend in the banking industry has taken to transparency and customer-focused messages. Many banks are beginning to understand how marketing messages can best stand on their own feet.

With the ever-changing digital landscape, maintaining focus on customer experience is becoming ever more important. For banks and their customers, this means developing a continuous and interactive digital experience that allows them to stay engaged with their valued customers. In addition to branding and marketing campaigns designed to continue growing customer confidence, banks should also continue developing relationships with their fellow business partners through digital tools and social networking.


The Take-Away

There’s a numbers game attached to online marketing: The more you know about your audience, the better you can tailor your approach and demonstrate ROI. This is why marketers closely watch industry trends – it helps them to understand their customers better. In fact, according to a recent study by AdRoll, half of the businesses that use customer data to personalize their online ad campaigns have seen CTRs increase by 20%. Banks should be doing the same and looking to integrate data into their campaigns this year.

Some Frequently Asked Questions


What are the latest trends in digital marketing for banks?

AI, augmented reality, voice search optimization, programmatic advertising, chatbots, personalization, automated email marketing, video marketing, Instagram reels, shoppable content, influencer marketing, and geofencing are just a few of the most recent digital marketing trends in the banking industry to watch out for. These new additions in the banking industry paves the way for a revolution in how financial institutes market their services.


How do banks use digital marketing?

Banks use the following types of digital marketing to gain attention:
  • Explainer videos to make complex financial concepts more understandable.
  • Make your website the primary point of contact for your customers.
  • Set up a YouTube channel to provide information-dense content.
  • Marketing through email
  • Marketing via mobile device


How valuable is digital marketing?

Digital marketing not only helps in saving money by bringing in customers at a cheaper cost than conventional marketing techniques, but it also assists you in increasing your income. The value of digital marketing can now be evaluated more precisely and the influence it has on your business may have a significant positive impact.


How do you advertise banking services?

Make use of these five tried-and-true bank marketing strategies to raise awareness, attract customers, and do more:
  • Content marketing: Content marketing is a kind of marketing that uses written content to promote a company's products and services. Develop textual, graphic, and interactive components for your website.
  • Search engine optimization (SEO)
  • Pay-per-click (PPC) advertising
  • Social media marketing
  • Online Reputation management

Spotlight

NN

NN is an insurance and asset management company active in 18 countries, with a strong presence in a number of European countries and Japan. Our roots lie in the Netherlands, with a rich history that stretches back 170 years. The overarching company, NN Group, includes NN, Nationale-Nederlanden, and NN Investment Partners.

OTHER ARTICLES

Five Ways Businesses Can Accelerate Their ESG Investing in 2022

Article | March 21, 2022

If the past two years were the most challenging for the finance industry, 2022 is considered even more demanding and profitable. Financial institutions and markets are trying to steer the new normal. It’s because companies are reworking their strategies, delving into flexible operations, and are now more responsive to financial industry events. Similarly, ESG practices and their elements, such as investors, stakeholders, and financial heads, are ready to create substantial demand and expectations for moving forward in the future. There will be a lot of environmental, social, and governance (ESG) issues that will affect all of them. Why now is the time to begin with ESG investing and sustainable technology deployment? Governments, businesses, financial services, and regulatory organizations have recognized the need to prioritize and change their working models. They discovered that the only way to secure the future is by paying attention to how businesses should be runto gain sustainable outcomes for all three Ps—planet, people, and profit. Deloitte found that Gen-Zers and Millennials are value-driven companiesfrom ESGs and deeply concerned about environmental and social issues.” Sarah Falcon, Financial Analyst, Object Edge Let’s find out how businesses can accelerate their ESG investing to support the industry in making the future secure, sustainable, and revenue-oriented. Five Ways to Accelerate ESG Investing Create a Powerful ESG Proposition A powerful ESG proposition can help businesses tap into a new market landscape and even expand their valuation in the existing market. In addition, such ESG practices are more likely to get rewards, such as access to beneficial investment options, approvals to trade, and licenses that offer novel growth opportunities. Let’s understand this with the help of an example. Abig public-private infrastructure project in Long Beach, California, was recently selected by a leading financial company for social-engagement activities. These activities benefited public and social stakeholders by extracting their resources without any operational delays. As a result, the company achieved higher valuations than its competitors. Apart from this, if you create a robust ESG proposition, it may benefit from driving customer engagement. According to a McKinsey research study, customers say they are willing to pay more to “go green.” The study also finds that more than 70% of consumers prefer to invest in a green product if it offers the same performance standards as a non-green alternative. By now, you should know that a strong ESG proposition is important if you want to increase your investing activities and grow your business. Transparency Leads to Accountability Maintaining transparency and sustainability in the ESG market with stakeholders is valued the most. This practice has achieved considerable appreciation over the past few years Customers, market leaders, and regulators demand access to information about companies and how their investment plans will lead to future growth. Gone are the days when companies used to block out crucial information about their ESG activities. Today, organizationsare more responsible for their actions and commitments than ever before. Maintaining transparency is the first step towards a profitable investment and return. So, before you plan on ESG investing for your company, be ready to experience the demand for accountability. Offer Tax Compliance Tax compliance reflects a fair tax statement. Complying with tax laws for investing in ESG is a crucial step. However, this comes under one of the ESG policies for companies investing in it. These days, many companies employ professionals to ensure compliance with tax activities—paying no more than the legal limit. It’s because stakeholders are now looking for companies to pay a ‘fair share’ under the government’s tax policies. Tax fairness supports overcoming tax loopholes. This is even more crucial while practicing ESG. Heading or improving ESG investing will gain strength over the coming years as businesses become more accountable for tax payments and other types of community support. For companies, a sustainability policy may not be an essential plan, but a good policy can make the difference between a client selecting you over a competitor.” Scott Schoeneberger, Business Analyst in Bluewater Technologies Group, Inc. Elevate Employee Productivity A powerful ESG investing plan must include strategies to encourage employee productivity. This can help companies attract and retain quality employees and enhance employee motivation by increasing productivity. It’s because employee satisfaction has an immediate connection with stakeholder returns. For instance, a study by Deloitte finds that the top40 companies generate 2.3% to3.8% higher stock returns per year in the U.S. This means that there is a significant impact on the perception of an employee’s work results in the tremendous motivation of employees. Another study by Deloitte has shown that positive social impact is connected with higher job satisfaction. In a nutshell, a company’s higher purpose can encourage employees to perform better, which can lead to more capital and investment opportunities. Driving Sustainability Through Emerging Tech Several emerging technologies are helping companies drive their sustainability from a growth perspective. For example, technologies such as blockchain, the internet of things (IoT), and machine learning are increasing the efficiency of remote work culture. In addition, technologies are improving supply chain efficiency by providing collaborators and partners with real-time visibility into data, monitoring, and optimizing products and services. This ensures that businesses make more money and opens the door to more opportunities to invest in ESG projects. The steps toward creating a more sustainable business environment lie within a business's strategies and visions. It is up to companies to seize the moment and ensure they are on track to meet their ESG commitments and invest in the right manner to retain and attract customers. The economic instability caused by the pandemic accelerated the digital transformation for many businesses and pushed them to adopt digital tools. Additionally, businesses need to think abouthow they can be sustainable and incorporate eco-friendly practices into every level of their operations. From CEO's to CTO’s, shareholders to new employees, investing in ESG projects must become a core business vision. Embracing the Change Customers Want A recent BCG survey revealed that the pandemic has changed global consumer behavior toward environmental issues. It was discovered that up to 90% of consumer behavior is "equally or more concerned" about the problems that surfaced as a result of the pandemic, and nearly 95% intend to change their purchasing habits. These actions can help lower "unsustainable waste, control climate change, and protect biodiversity." Today, companies must focus on these signs and align their operations, culture, and brand image to better meet consumer expectations. Doing this will be more effective in creating the right investment plans and help discover the best ESG program that fits a business’s needs. The pandemic had the hope of a vaccine, but climate change doesn’t. ESG is not about better branding; it is about our existential continuity.” Monalisa Sahoo, Financial Advisor, Sterlite Power Frequently Asked Question Why should a company invest in ESG? Investing in ESG is the best idea for companies to succeed and deliver profitable returns. Companies can do it by creating value for their stakeholders, such as employees, suppliers, customers, society, and the environment. Is ESG profitable for companies? A strong ESG program can provide substantial capital returns, emerge as amore robust corporate brand, and promote sustainable long-term growth.ESG would benefit companies and investors in the long run. Why is ESG essential now? ESG policies relate to internal practices that lead to effective decision-making processes and legal submission. It also allows for huge opportunities in the future, cuts costs, and builds trust amongst consumers.

Read More

How Outsourcing Can Improve Financial Services for Businesses

Article | March 21, 2022

As a business owner, you may start a business with many goals in mind. Unfortunately, managing finance and accounting are often not things that business owners are fully experienced in. But at the same time, it is important to keep a close check on the numbers. Not all businesses have financial services outsourcing teams to improve their financial activities and accounting processes or even deploy strategies to expand their financial responsibilities. This is where the role of outsourcing financial services comes into play. In February 2022, Consero identified the Four Tenets of Finance as a Service (FaaS) as a new standard of service. As a result, FaaS is taking a significant share of the outsourced accounting industry. To make our business more successful, we built a solution using a best-of-breed suite of third party software applications so our clients have a particular login to access all financial data.” Bill Klein, the Co-founder and President of Consero Global Why Businesses Need Outsourcing Financial Services? When it comes to deploying financial services, outsourcing is considered one of the best decisions because of its numerous benefits. An experienced outsider is more capable of identifying areas that need improvement. This leads business owners and CFOs to focus more on essential activities. Outsourcing the financial functions of your business to a certified finance management team or CFO can help you gain financial stability. This is one of the most result-driven advantages of outsourcing for financial activities mentioned by business owners who have already outsourced this process. To make their financial and accounting functions better, more and more businesses are hiring accountants and other people to do their financial work for them. So, the sooner you begin with outsourcing your financial needs, the sooner you’ll reap the benefits of outsourcing financial services. Additionally, you’ll be one step ahead of your competitors. Presently, outsourcing drives functionality, process, planning, and execution transformations. An outsourced team can help build accurate financial strategies and track so you can focus on the growth of your business, including revenue generation. Financial services that can be outsourced include: Payroll Financial reporting Tax accounting VAT services Accounts payable There are numerous reasons why outsourcing financial services is beneficial and a proactive approach to managing your business’ finances. This article is an outline how outsourcing financial activities can help you strengthen your finances and grow faster. This shifts the burden on to your outsourced services provider for finance, to make sure they have the competence, staff, and systems to provide that service in an exceptional and timely way." Bill Klein, the co-founder and President of Consero Global Automating and Improving Processes With the use of AI and machine learning and other effective strategies, an outsourced finance department can control and analyze processes such as budgeting, collection of data, detailed capital information, and capital flow. These strategies can anticipate upcoming expenses and keep a backup of data. According to a study by Finance Monthly, nearly 50% of senior decision-makers in financial services organizations across the U.S. prefer to employ qualified third-party financial experts using technology for solutions, making it the top driver overall. This show important it is to choose a financial services outsourcing company that uses an automated processing solution for your business’s success. Automatic functions such as automated invoice data capture solutions can help deliver 6x faster than a human capturing the same data manually. This enables teams to focus on higher-priority and value-generating tasks. Similarly, multiple function-specific software platforms, such as Finance Close Automation (FCA) for managing CCR-related activities, Cherwell for reducing operational costs (logistics to analytics), and Fresh works for quality check and asset management, are among the best automation tools that could help streamline your financial activities. Lower Tax Burden and Maintain Compliance An outsourced financial team generally stays updated with all tax codes relevant to your business and remains compliant with financial regulations and laws. They practice these to ensure timely payment of taxes happens through accurate tax and return fillings on behalf of your organization. Next, when it comes to maintaining compliance, it can be a bit challenging when your own team members are working on it. Outsourcing the responsibility can eventually reduce the challenges because outsourced financial experts are well aware of new and changing financial regulations. Compliance includes constant monitoring and a highly-skilled technical workforce. The following are some of the critical business areas where outsourced finance experts can make a significant difference: Understand regulatory changes Address potential flaws discovered during regulatory audits Employ technology solutions and compliance management systems Complete compliance audits Reduce Overhead Costs Outsourcing the financial services of your business will eventually help you focus on one of the core functions—reducing or controlling costs. While working, if the subsequent questions come to your mind, such as Are you working at the most favorable possible cost? Can the currently available resources support new technology to compete against the market competition? Is there any other efficient way to handle financial processes more professionally and quickly? How can we cut down on recruitment and training costs? Then you should immediately outsource your financial activities.Analysis based on these considerations can also bring efficiency and quality to the business. Providing Advanced Technologies and Infrastructure A proper financial institution infrastructure includes a variety of inter connected technologies such as the cloud, AI, machine learning, automation, and others. Such technologies are increasing in importance as financial services are constantly evolving. For example, the cloud is a prime outsourcing model and is becoming increasingly popular. Why? Businesses are looking for better financial operations, and cloud providers offer a trusted platform—hybrid and public that manages financial functions effectively. Similarly, in financial institutions’ infrastructure, the evolved ones are fully equipped with mobility, modernized applications, high-speed internet connectivity, virtualization, and more. Therefore, financial services outsourcing affords businesses with an opportunity to integrate and manage all services in a hybrid environment uniformly and effectively worldwide. Steps and Considerations for Outsourcing in Financial Services As your business understands how outsourcing financial services can bring significant improvements to your financial operations, it is important to follow some of the most effective steps before you begin. Assess your Needs The assessment of your needs should be a “quick” evaluation to identify opportunities for your business that can improve your business and drive growth in the future. Evaluate Potential Outsourcing Partners A potential outsourcing partner will help your business experience the optimum benefits and advantages of outsourcing. When you evaluate potential partners, make sure to pay close attention to the following parameters: Their experience, abilities, success stories, and reputation are key parameters Determine the hidden terms and costs included in their outsourcing services Time to Make the Switch A well-established outsourced financial institution or services provider will assist your business with proper financial aspects, be compliant, competitive, and show the path towards financial growth for the future. Frequently Asked Questions What is meant by outsourcing of financial services? Outsourcing of financial services means when a company hires financial services providers (third party) to manage its financial activities and responsible to drive financial growth. What financial services can be outsourced? Financial services such as policy formulation, internal audit, compliance, KYC norms, credit sanction, and investment portfolio management cannot be outsourced by businesses. What are the risks involved in outsourcing financial services? Outsourcing financial services can leave businesses vulnerable to new threats and risks. Risks and threats include loss of control, data breach, exposed essential information, dependency, and money loss.

Read More

Top Four Corporate Tax Planning Strategies to Minimize Business Risks

Article | March 9, 2022

The major U.S. corporate businesses—Apple, Microsoft, and Amazon, had an average income tax liability of $7.5 billion in 2019. Yet, they were constantly criticized for avoiding paying more than a billion in taxes. Taxes are one of the most significant expenses any company faces. If a company pays less, it has higher earnings, resulting in a higher value for shareholders. So, it is no surprise that corporate businesses seek ways to reduce their tax burden. This is where the importance of tax planning comes into the picture. Tax Planning—At a Glance Tax planning has always been a complicated task for corporations and individuals. The challenging tax environment has placed many CFOs in the difficult position of managing their tax activities while minimizing tax repayments. Delayed tax payments, alterations in tax regulations and tax policies, and many more challenges like these have been addressed most by financial corporations. Besides these, tax-related technology to eliminate manual processes has been a significant challenge. Overcoming the complexity of tax planning requires adequate planning to reduce tax risks that affect a business in the long run. However, the government is undertaking broad yet active initiatives related to taxes, especially to counteract the economic impact of the pandemic. New corporate tax relief measures are expected to be implemented in the U.S., totaling $650 billion by 2023. If they plan their tax activities in advance, they can save a lot of money as a backup. Tax relief measures play a pivotal role in corporate tax planning. These measures support corporations’ ability to meet specified tax-related activities and are designed to boost money flow to maintain a balance in the economy. So, the first step for businesses is to have a strategic tax plan in place, and for this, it is crucial to know the importance of tax planning. “Before you plan a significant investment, be sure the money you have available won’t be used to pay taxes due tomorrow.” - Luz Urrutia, Tax Expert, Opportunity Fund Importance of Tax Planning Tax planning is crucial to avoid illegitimacy and monetary risks for businesses and individuals. It helps manage changes in the financial ecosystem and leads to more systematic economic operations. Effective corporate tax planning facilitates corporations and individuals to reduce tax costs and benefit from higher earnings. By saving costs, corporate businesses can easily earn more capital for shareholders and make reinvestments. Higher shareholder acquisitions and capital reinvestment are signs that the business is doing well and its finances are improving. Well-planned tax activities are reflected in the company’s financial statements. Apart from this, the process also involves analyzing the financial situation, and according to it, a company can minimize its tax liability. Interestingly, at the end of the tax season, you can end up with hundreds of dollars in your accounts. “You want to start planning to adjust retirement plan contributions, employee benefit plans, and capital expenditures in the previous financial year.” - Bill Keen, Keen Wealth Advisors So, how should you proceed with seamless corporate tax planning and reap the utmost advantages of tax planning? Read on to find out the essential aspects that should be considered when creating a strategic tax plan. Top Four Corporate Tax Planning Strategies Examine Your Accounts A business encounters numerous types of expenses and also earns income from various sources. Therefore, it’s crucial to review business accounts with a tax advisor annually. A tax advisor can assist you in making necessary investments or capital repositioning. Having expertise can lead to tax reductions in a corporate business. They can also give you updated tax laws, which can help you avoid paying more next year. Plan Overall Tax Accounting Method The tax accounting method mainly focuses on generating tax benefits by accelerating tax deductions and deferring taxable income. This method also helps to increase the value of the earned tax amount in the current year. There are two main ways to conduct tax accounting—the accrual method and the cash method. Accrual Method: Corporates use this method to recognize earned income and expenses when the liability is fixed. On the other hand, corporations can benefit from planning their income in the year they pay taxes by investing more to reduce costs effectively. Cash Method: Tax advisors can assist businesses in making divisions in income and expenses in the form of cash. These methods will help you plan taxes to get the net taxable income that corresponds to your profit. Practice Charitable Contributions Under corporate tax planning, it is essential to contribute to charitable institutions. This can help to gain maximum tax benefits. Some of the charitable contributions that can be included are: Stock donations Private foundations Investment in funds Cash donations Charitable trusts The type of charitable contribution and the kind of asset donated are factors that can help corporates with tax reduction. Donations to a charity for education, non-profit organizations, foundations, and others certainly qualify for tax deductions. In this case, the IRS Tax Exempt Organization Search tool can benefit by verifying an organization’s tax-exempt status and determining its eligibility for deductible contributions. If corporates include charitable donations in their tax planning, then it can be a significant mode of tax return and savings at the same time. Include Business Entity Type Every corporate business has specific pros and cons regarding business entity type. According to the U.S. economic survey conducted in January 2019, the corporate tax rate was 21%. The survey also found that in 2019, corporate businesses were profitable in terms of tax as they were saved from high-valued advantages from tax liabilities. However, some corporate companies were also subjected to double taxation. In double taxation, the profit margins are taxed at a corporate rate. Even shareholders are taxed on their dividends. This means corporate businesses that haven’t included entities face burdensome tax payable amounts. Therefore, it is advisable to include business entity types during corporate tax planning. Business entity types help to reduce business losses. However, shareholders must be paid a realistic return to have a business entity type. This also includes partnerships. A partner’s entity contributes to a guaranteed risk-free business. At the end of the year, partnership agreements make allowances for income and its distribution so that tax savings can be made at the end of the year, too. Corporate tax planning has numerous advantages. However, to reap the advantages of tax planning, corporates should plan within the applicable limits of tax laws to avoid tax. Changes in tax laws should also be considered so that corporate companies can change their investments to fit the law and terms of the tax plan. Frequently Asked Questions What are the methods of tax planning? Tax planning can be done in many ways, depending on the tax advisor and the type of business. Some of the standard methods are as follows: Short-term tax planning Long-term tax planning Purposive tax planning Permissive tax planning Why is it essential to plan a tax strategy? Planning a tax strategy can reduce and save income tax for the current and future. Having a proper tax strategy in place will aid in maximizing the number of funds, reducing the cost of financing education, managing cash flow, and meeting expenses at the right time and the right way. What precautions should be taken during tax planning? Certain precautions should be taken during tax planning. They are as follows: Show your account balance to a trusted tax advisor Keep the interest certificate safe Keep bank statements and passbooks updated Investment proof Rent and lease agreements

Read More

9 Ways to Boost FinTech Demand Using Content Marketing

Article | March 1, 2022

Demand generation or 'demand gen' is defined as the practice of creating demand for a product or service through marketing. It plays a vital role in promoting a product or service. It is a process to build brand awareness, increase traffic, increase deman0d and secure new leads. Demand gen is all about creating predictable pipelines for the sales team and creating high-quality leads that engage your brand and turn into revenue. A successful demand generation strategy is not just about generating the sheer volume of leads, but also generating qualified convertible leads. Demand generation can be done by filling out forms, signing up for a subscription, downloading a piece of content, participating in a webinar, etc. However, not every lead will be sales-ready. These leads can be nurtured further by the sales team. Read on to list down various strategies to boost demand generation for FinTech using content marketing. Content Marketing Challenges for Fintech Brands The FinTech market is one of the fastest-growing markets in the world. FinTech marketing is the top priority for FinTech brands to promote their products, services, and growth strategy. Unfortunately, the FinTech market is miles behind when it comes to creating viral content. Besides the challenge of not being able to create personalized content, the FinTech market is facing other challenges such as: Legal Compliance & Regulation Every piece of copy or creative material needs to conform to the region's law. It restricts creativity and delays the execution of the content marketing strategy. Complexity and Technicality of the Subject FinTech is a complex and technical market; hence it can be difficult for an average person to understand. Simplifying a complicated topic can be challenging. And even more challenging to be creative and compliant with the industry standards. Slow Response Time Unlike other markets, reachability or content promotion of such a niche or complex market may take time. Role of Content in FinTech Content marketing can help FinTech brands overcome the challenges mentioned above. Brand awareness, educating the target audience, and acquiring new clientele is the primary aim of content marketing. Rolling-out relatable content and case studies can help FinTech brands to increase trust and gain new clientele. It can also help improve your credibility in the market as compared to your competitors. Sharing essential market updates, articles, and blogs can help FinTech brands demonstrate their market expertise. How to Generate Leads For Fintech Brands through Content Marketing Content marketing works as the fuel that powers your lead generation strategies, and the FinTech brands are aware of it. Both start-ups and well-established FinTech companies rely on lead generation as a part of their growth strategy. According to a research study, 80% of decision-makers gather company or market insights online—whicheases their purchase decisions. Below mentioned are the nine ways FinTech companies can generate leads through content marketing. Research – Target Audience & Keywords Your target audience description may include buying behavior, motivations, pain-points, values, budget, hobbies, and demographics. By thinking about who your audience is, you can equip yourself to reach them, engage them, and support them with the most relevant content online. FinTech is a niche market, so you create content that applies only to a small audience group. Now that you know who your target audience is, we can move to the next step, i.e., keyword research. Keyword research can help you find your target audience, searching for similar content. Using the right keywords can get your product or service the visibility it deserves and reach potential customers. For this, you need to list down the keywords that your audience may use and create your content around those keywords. Humanize Your Brand on Social Media "At the end of the day, customer-centric fin-tech solutions are going to win." – Giles Sutherland. Social media today is more than a B2C marketing tool. Social media marketing provides an opportunity for brands to increase awareness among their target audience. Connecting with your target audience on social media helps you build trust and exposure to your brand as a whole. Humans are the center of every technological advancement. Talking about humanizing your brand may involve chatbots, advanced ML, and automation. These technologies pave the way for a more transparent and customer-centric experience. Connecting with your end-user in a language they understand gives FinTech brands a competitive edge with social media. Effective ways to humanize your brand are: Engage and interact Share videos Create blogs and posts regularly Leverage data Connect with social media influencers Millennials prefer brands that connect emotionally and focus on creating more relatable content. Use simple language, avoid using technical jargon, create content that shows care and concern towards the end-user, publish case studies, host podcasts, and create marketing videos. Generate Content for Various Campaigns There are different ways for you to use content for lead generation. You need to realize that there is no one-size-fits-for-all solution for campaign content. Depending upon the market and your business's nature, one method may be more effective than the other. Once you have figured out what people want, you need to generate content that gives them what they want. Now that you have the list of keywords, start creating gated content such as articles, infographics, videos, podcasts, e-books, white papers, reports, checklists, cheat sheets, free email guides, webinars, product demos & trials, and sales materials. Writing high-quality content is the foundation of an effective lead generation campaign. To create quality content, you need a sound content strategy and a specific buyer persona in mind. Apart from creating a solid piece of content, graphs, images, quotes, and infographics lead to a more effective campaign. According to a study, 67% of customers consider clear and detailed graphics ahead of product descriptions and ratings. The best kind of content allows readers to connect with the information added. Also, the writer should present critical information early to ensure readers get to the point before they opt-out. Investing in high-quality content will pay-off in the form of successful campaigns and more leads. Here are some of the best content ideas for lead generation. Giveaway a checklist of tools or lists of resources eBooks & Free Reports Webinars Discounts & Coupons Free Trial Quizzes Mini-Courses Free Challenges Syndication of Content B2B content syndication is when digital content such as whitepapers, blogs, and videos are re-published to a third-party website. Content syndication works excellently for lead generation for a B2B company. It will give your business and content extra exposure to increase brand visibility with minimal effort that you wouldn't typically get while just hosting it on your website. Distribution of content promotion to generate new leads from prospective customers will always remain the top priority for B2B marketers. Having unique web-page content with none to little traffic on websites is wasting your idea as no one will ever read it. To this, content syndication is the answer. A landing page provides more context for the product/service featured in your ad or social media post. As the user lands on the landing page, they need to see what they get when they sign up. A landing page should exclusively focus on one specific offer by using eye-catching imagery, action-oriented copy and a clear next step. Do's Don't Minimal copy with bullet points Add too much text Security badges Add social media handles / social media share button Free aspect added to the call-to-action button Use too many jargons Add a form or call-to-action button Add links Add multiple/ big call-to-action buttons Offer non clickable phone number No points of exit Add copyright signs Add a mobile number or click-to-call Add clients, testimonials & awards Add a free preview, screenshot images, stats, and video for demonstration. Add guest photos Add guest photos Add a form or call-to-action scrolling with you Email Marketing Email marketing has been used by B2B businesses for a while now. It is one of the powerful tools for marketing and communications. According to a survey, email marketing is the most effective online tactic for lead generation. 91% of businesses prefer email marketing for demand generation. A good lead generation strategy will have lasting benefits, such as allowing you to target your desired customers and boost brand awareness. Lastly, more lead equals more customers and, ultimately, more revenue. Create a FinTech Forum The invention of the internet has erased all the geological boundaries for doing business. Local businesses can turn into potential global competitors. Online forums have enabled people to connect online based on their likes, interests, beliefs, or preferences. You can also create an online forum or online community to interact with like-minded people who can turn into customers. These online forums are of great help for businesses. They allow both your existing and potential customers to interact and discuss; while helping you trouble-shoot flaws or errors. Virtual Event - Webinars /Podcasts / Live-streaming / Guest Posts The coronavirus outbreak has changed how the world works and will work for the foreseeable future. Many companies have had to postpone or cancel their events. Lead generation is essential for generating revenue. Hosting online events such as webinars, podcasts, live-streaming, guest posts, etc. can help you build a pipeline for new leads. Organizing virtual events can offer benefits such as; Increased attendees No need to travel or make expensive hotel bookings Multilingual options can allow for simultaneous translation or subtitles while overcoming the language barrier and opening the event for global audiences. The number of attendees is limitless in an online event Easier to collect feedback and make new connections Apart from the benefits mentioned above, virtual events have added advantages such as: The target audience is already there Easier to identify specific customer behaviors You can connect with a broader audience Minimized cost Shorten the sales cycle Easier to collect important information of the attendees Deliver what the audience wants to see or know Harness the power of data Leave it out in the open (let them follow you) Virtual events, if done right, can be the best way for lead generation. Utilizing Video Content 51% of marketing agencies worldwide affirmed that video content has the best Return on Investment (ROI). Video content enables people to learn faster from the tone, expression, body language, and other visual clues in the video, apart from the content itself. Video marketing can help draw the right set of the target audience, build trust and brand awareness, hold people's attention, and capture email addresses. Applying the following video marketing skills can help you use your skills to full potential for lead generation. Gate your video content Strategically insert your CTA Make use of video on landing pages Leverage video testimonial Make use of video case study Leverage your video across multiple social media platforms Other important things to consider are – Define Your Target Audience and Produce the Right Kind of Videos for Them Decide the Correct Length for your Video Create a Series of Live Videos Collecting and Using Your Data to Channelize Lead Generation Campaigns A well-planned and well-executed data-driven lead generation campaign should look like: Know your audience >> Plan & design your campaign >> Reach out to your target audience >> Fulfil their requirements >> Capture leads >> Qualify leads >> Nurture leads >> Follow-up >> Close Having a database with accurate and frequently updated info serves as the best source to identify qualified leads and potential customers. The idea is simple, suppose you can gather data on your ideal customer's characteristics and use analytics to generate insights to carve your buyer's persona. In that case, your database will be filled with leads who are genuinely interested in your organization's products and services. Final Thoughts Content marketing is the key to promote FinTech products on various digital platforms. Ensure that the content you publish is readable and well-researched without using much industry jargon. You must master the art of storytelling. It can address the three big stumbling blocks – credibility, trust, and education. Lastly, publish a lot. Ensure that your content is available in all forms and on all the relevant platforms to reach your target audience. Frequently Asked Questions What is content marketing, and how does it work for FinTech Market? Content marketing works by offering readers informative and useful material that provides valuable insights. When done well, it can help FinTech brands raise awareness, aid in consideration between solutions, drive engagement, and drive business growth. What is trending in the FinTech market? Artificial Intelligence (AI) and Machine Learning are the trending technologies behind the growth and development of the FinTech market. How to market a FinTech brand? Know your target audience & keyword Humanize your brand on social media Generate content for various campaigns Syndication of Content Email Marketing Create a FinTech forum Virtual Event - Webinars /podcasts / live-streaming / Guest Posts Utilizing video content Collecting and using your data to channelize lead generation campaigns { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "WHAT IS CONTENT MARKETING, AND HOW DOES IT WORK FOR FINTECH MARKET?", "acceptedAnswer": { "@type": "Answer", "text": "Content marketing works by offering readers informative and useful material that provides valuable insights. When done well, it can help FinTech brands raise awareness, aid in consideration between solutions, drive engagement, and drive business growth." } },{ "@type": "Question", "name": "WHAT IS TRENDING IN THE FINTECH MARKET?", "acceptedAnswer": { "@type": "Answer", "text": "Artificial Intelligence (AI) and Machine Learning are the trending technologies behind the growth and development of the FinTech market." } },{ "@type": "Question", "name": "HOW TO MARKET A FINTECH BRAND?", "acceptedAnswer": { "@type": "Answer", "text": "Know your target audience & keyword Humanize your brand on social media Generate content for various campaigns Syndication of Content Email Marketing Create a FinTech forum Virtual Event - Webinars /podcasts / live-streaming / Guest Posts Utilizing video content Collecting and using your data to channelize lead generation campaigns" } }] }

Read More

Spotlight

NN

NN is an insurance and asset management company active in 18 countries, with a strong presence in a number of European countries and Japan. Our roots lie in the Netherlands, with a rich history that stretches back 170 years. The overarching company, NN Group, includes NN, Nationale-Nederlanden, and NN Investment Partners.

Events