Digital Marketing Tips for Financial Institutions on a Shoestring Budget
1. Invest in Great Content
For a while now, content marketing has been all the rage. It helps you to draw in key audiences by feeding the search engine beast. For most banks and credit unions, serving as a trusted source of financial education for customers and members is a key goal. But building a robust library of articles is an ambitious proposition, and even the thought if it can result in anxious hand-wringing for most financial marketers — Where will the content come from? Who will write it? Rather than drop content marketing down to your “rainy day/maybe I’ll get to it” to-do list, develop a content plan that allows you to start small but gives you room to grow if/when it shows promise.
Determine what your most important topics are, and start building a list of must-have vs. nice-to-have resources. If mortgages represent a great growth opportunity for your institution, write a few articles in that vein with broad appeal — e.g., 5 Reasons Why Buying a Home is Better than Renting. If your time or budget allows, mix it up with different types of content types: articles, calculators, infographics, and video.
Custom content is always preferable because (1) it will be written for your specific audience and (2) it’s better for SEO purposes. However, there are plenty of good third-party content providers that can help you get your content marketing efforts off the ground without breaking the bank (pun intended).
Whether you produce the original material or buy it from a third party, make sure you have a plan to drive visitors to your content. Email marketing is a popular inbound marketing tactic, as is social media marketing.
2. Re-evaluate Email Marketing
Email marketing is a strategic way to reach your audience. But, if you are like many institutions, you aren’t certain why your current plan isn’t working. With a few relatively painless steps, you can breathe new life into your email marketing program, and take some strides toward inbound marketing success.
Clean up your list. Many institutions aren’t successful with email because they have bad email distribution lists. Spend some time looking through your lists and doing any necessary clean up to maximize deliverability.
Take a fresh look at your email templates. If they look dated or cluttered or don’t render well on mobile devices, they probably won’t get read. Investing in a few new email templates generally comes at a modest cost that can pay off big time over the long term.
Obsess over subject lines. Your email subject line is vital to cut through inbox clutter. Spend some time researching words that are known to trigger spam filters, keep your subject lines short, and even try out newer tactics that have been proven to increase open rates, such as using emojis.
Split test. Many email marketing programs offer A/B testing built-in to their platforms. With a few simple steps, you can make minor changes to your emails and automatically test which performs better. The most effective email will then be chosen for distribution, and you just get to monitor open and click rates.
Personalization. While fancier approaches like remarketing and personalization help target emails to the right audience at the right time, those tactics are typically out of reach for most marketers. Instead, use what you know to give the illusion of personalization. Do you know the recipient’s first name? Use it in the email so it gets a little more attention in a sea of non-personalized emails recipients receive. Do you know where the recipient lives or works? Segment your emails accordingly so you can make messaging more applicable.
3. Leverage Geographic Information
Most visitors are willing to share their location with you from their mobile phone and even desktop devices if they feel that by doing so, they will have a more relevant experience. The technology behind this isn’t complicated or expensive, and by implementing location detection, it can help you deliver a much better experience for your site visitors.
Many visitors to bank or credit union sites just want to find the nearest branch or ATM. Through automatic location detection, you can narrow the choices down for them and make this search process a lot more pleasant. And a pleasant interaction with an institution site equals a happy customer.
Eventually, when your budget allows, you can utilize more sophisticated Content Management Systems to target your promotional offers and content based on the location of your visitors.
4. Targeted Paid Search
While high organic ranking on search engines is a priority for every financial institution, the reality is that institutions are all competing for the same keywords on topics that are among the most competitive across all search engines. Did you know that after “Insurance”, “Loans” and “Mortgage” terms are among the most expensive categories? So why is paid search still recommended with all of these headwinds against it? Because it can attract incredibly targeted, engaged visitors when executed properly.
Your budget may not afford to bid against the big banks for big, broad terms like “mortgage,” but if your institution should still pay to play. You can start by limiting your paid search campaign to a limited geographic area that matches your market footprint — why pay to have your ads shown to people in China if you are based in Chennai? Also, bidding on terms like “zero down” and “refinance mortgage broker” are much less expensive and may attract the same quality visitor as some of the more obvious, pricey terms.
The quality and relevance of your ad will key to encouraging visitors to click on it. Well-written ads are part art and part science and are incredibly important to the success of the paid search. Don’t cut corners here; invest the time to research and write engaging ads. There are hundreds of articles out there offering advice and providing statistics on what works… and what doesn’t.
Many institutions invest in paid search but don’t have great conversion rates. One of the primary reasons is a poor-quality landing page. Institutions often forget to invest in the end game and then scramble wondering what things didn’t work out.
5. Improve Conversion Through Landing Pages
If you aren’t investing in dedicated landing pages for your campaigns, then you are missing out on some big conversion opportunities. Many institutions link to their homepage or product sub-page of their website to offer details. This is a HUGE mistake. Since these boilerplate pages are generic and are often stuffed with information, visitors quickly lose focus and will likely leave.
Investing in proper landing pages will maximize your website’s ability to convert. A properly designed landing page will strip out all those non-essential elements, including site navigation, site search, social media sharing, and cross-promotions. Its sole job is to focus on the offer details and draw the visitor into action. Once you have a landing page template designed, it can be re-purposed for many offers, allowing for minimal ongoing investment by your team.
Investing in basic tracking on your key calls to action will allow you to begin evaluating success. While more sophisticated tracking investments will allow you to monitor true conversions, minimally knowing what tactics drove visitors to your page, and which worked, is better than hoping that visitors will somehow find and respond to your offer on another site page.
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According to a recent report published within the leading daily, The Times of India, digital marketing can produce 1.50 Lakh jobs in India. Now, this is really a large figure and one which will undoubtedly bring joy to those trying to create a fruitful career during this rising field. As per the report, the rise in the number of e-commerce ventures, increasing smartphone/internet usage and the growing realization of social media’s impact have created a decent demand for digital promoting professionals. Unfortunately, there is a lack of skilled and experienced professionals who will do justice to the varied job profiles within the digital promoting domain.
But the brighter aspect of the situation is that jobs can be descending within the times to come back. Also, since there is a lack of experienced professionals, there is a good demand for freshers, especially in the startups, budding digital marketing agencies and little businesses. The best thing regarding the sphere is that its doors square measure hospitable freshers from all tutorial backgrounds-whether arts, science, management or technology. What you need could be a passion to be told and grow.
Specialization areas in Digital Marketing
Digital marketing is a versatile and complete field that covers numerous niches and every niche needs a specialist to handle the work demands. Let us take a glance at them:
1. Search Engine Optimization: Search Engine Optimization is an organic (unpaid) method of improving the ranking of web pages and their visibility on various search engines such as Google, Yahoo, Bing, etc. Optimizing webpages is a very vital aspect of Digital Marketing.
2. Search Engine Marketing: Another method of increasing the visibility of web pages is through sponsored placements and advertising. SEM specialists should know how to run PPC campaigns, how to purchase traffic through paid search listing to maximize the visibility of web pages on search engines.
3. Social Media Marketing: Social Media Marketing is gaining a lot of popularity with social media sites like Facebook, Twitter, LinkedIn, Pinterest and others. A good digital marketer should know how to harness the power of social media to market the brand image of the company.
4. Email Marketing: As it is important to engage your customers and leads with your brand, many organizations send periodic newsletters, email campaigns, autoresponders to its subscribers in order to keep them updated with new products/services added or anything worth sharing.
5. Mobile Marketing: More and more people are going mobile. Smartphones have become very trendy among all age groups. Mobile marketing provides instant updates, promo offers and information on customers’ interests. A person needs to be a mobile freak to get into mobile marketing.
6. Web Analytics: Web Analytics is a very interesting aspect of digital marketing which involves traffic analysis, business and market research and enhancing the website traffic. For instance, Google Analytics gives great insight into how your website is working.
The average pay for a Digital Marketing Manager is Rs 4,09,607 per year. Most people move on to other jobs if they have more than 10 years’ experience in this field. Experience strongly influences income for this job. The highest paying skills associated with this job are Strategic Marketing, Online Marketing, Social Media Optimization, Google Analytics, and Search Engine Marketing (SEM).
Digital Marketing Areas/Careers:
Digital marketing is a vast field with a variety of areas and segments such as Social media, Content writing, Email marketing, SEO/SEM, Data Analysis, Designing, and much more…To get into a Digital Marketing Job, you need to identify your interests and strengths in order to make the right decision to specialize in a particular area of Digital Marketing. Yes, it is good to get a basic and general knowledge of all the areas encompassing digital marketing, but specialization in one or more fields is the need of the hour.
Digital Marketing moves at a terrifying pace. Frequently the best way to keep up is to continue perusing. Yet, with such a large number of advanced showcasing websites out there that it can be difficult to recognize the valuable peruses and the computerized advertising weeds.
At the SKARTEC Digital Marketing Academy we frequently stay up with the latest with a couple of value websites – the one’s we know are important, solid, convincing and unique. In any case, we were intuition – it would be narrow minded remaining quiet about them.
That is the reason we’re offering our six most loved digital marketing blog sites to you so you can bookmark them, stick them in a spreadsheet or impart them to your advanced promoting companions. Presently go on, get perusing…
1. Marketing Land:
What You Can Expect:
The best things about Marketing Land is that it includes every day breaking news stories about all parts of the computerized promoting industry so you can get the vast majority of your advanced advertising news from the one place. The journalists at Marketing Land frequently distribute functional tips and methodologies you can use in your own particular computerized promoting effort. In any case, one of our most loved things about this site is that it highlights master articles composed by topic specialists.
It’s Super Useful For:
Staying up with the latest with critical up and coming dispatches and computerized advertising declarations and helping you to remain in front of the opposition.
What You Can Expect:
Kiss Metrics has some expertise in investigation, promoting and testing and its blog entries mirror this pro information. You can anticipate a large group of delightfully composed infographics containing the most recent computerized promoting insights, studies and tests. You’ll additionally discover a variety of helpful computerized advertising guides that handle subjects like email promoting, web-based social networking and client examination.
It’s Super Useful For:
Directing examination for your own articles and selecting valuable insights to use for your battle recommendations.
3. The Moz Blog:
What You Can Expect:
On the off chance that on the off chance that you’d love to be a SEO genius you’ll adore Moz Blog – we guarantee. It’s stuffed loaded with helpful blog entries on the best way to handle each component of your SEO system and practice – from the specialized issues like how to beat copy content issues to correspondence strategies like substance procedure and relationship building. Our most loved thing about Moz Blog is that it helps you follow along and comprehend the mechanics behind the most recent SEO upgrades.
It’s Super Useful For:
Well ordered how-to guides – in case you’re need to figure out how to explore new territory in scan this is the blog for you.
4. Content Marketing Institute:
What You Can Expect:
You can anticipate digging into unique substance showcasing research, including data on the substance advertising industry’s benchmarks, spending plans and patterns. The blog is home to various convincing articles expounded on substance system, narrating and blogging best practices. Another reward is that it keeps you overhauled with the most recent substance showcasing occasions. Definitely justified even despite a peruse and a bookmark.
It’s Super Useful For:
Figuring out how to specialty and execute a compelling and quantifiable substance showcasing technique of your own.
5. Social Media Examiner:
What You Can Expect:
As the name proposes Social Media Examiner apportions valuable exhortation on all things social
media, including Facebook, Twitter, YouTube, Google+ and Pinterest and that’s only the tip of the iceberg. You can anticipate counsel from web-based social networking specialists on the most proficient method to plan a powerful web-based social networking technique for every channel. Blog entries and articles incorporate master interviews, imaginative contextual investigations, surveys of the most recent industry inquire about, podcasts and the most recent online networking news.
It’s Super Useful For:
The technique and contextual investigation blog entries are especially valuable for helping you arrange and make your own web-based social networking methodology and substance timetables.
6. Occam’s Razor:
What You Can Expect:
Occam’s Razor by Avinash Kaushik contains an entire host of blog entries on each part of Google Analytics. You’ll discover inside and out how-to aides and data on an extensive variety of points, including subjective investigation, focused knowledge examination, examination tips, web measurements and that’s just the beginning. Writer of two smash hit books (‘Web Analytics 2.0’ and ‘Web Analytics: A Hour a Day’), Avinash Kaushik is one of the world’s driving specialists on Google Analytics – we’d accept his recommendation.
It’s Super Useful For:
Getting the chance to grasp with Google Analytics nuts and bolts and adapting more propelled Google Analytics traps to help you measure your site’s and battle’s execution.
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Top Digital Marketing Course in Chennai | Learn From The Expert
To build a solid foundation for your business, you must first identify your typical customer / target market and tailor your marketing pitch accordingly.
Given the current state of the economy, having a well-defined target market is more important than ever. No one can afford to target everyone. Small businesses can effectively compete with large companies by targeting a niche market.
Many businesses say they target “anyone interested in my services.” Some say they target small-business owners, homeowners, or stay-at-home moms. All of these targets are too general.
Targeting a specific market does not mean that you are excluding people who do not fit your criteria. Rather, target marketing allows you to focus your marketing dollars and brand message on a specific market that is more likely to buy from you than other markets. This is a much more affordable, efficient, and effective way to reach potential clients and generate business.
With a clearly defined target audience, it is much easier to determine where and how to market your company. Here are some tips to help you define your target market.
Look at your current customer base.
Who are your current customers, and why do they buy from you? Look for common characteristics and interests. Which ones bring in the most business? It is very likely that other people like them could also benefit from your product/service.
Check out your competition.
Who are your competitors targeting? Who are their current customers? Don’t go after the same market. You may find a niche market that they are overlooking.
Analyze your product/service.
Write out a list of each feature of your product or service. Next to each feature, list the benefits it provides (and the benefits of those benefits). For example, a graphic designer offers high-quality design services. The benefit is a professional company image. A professional image will attract more customers because they see the company as professional and trustworthy. So ultimately, the benefit of high-quality design is gaining more customers and making more money.
Once you have your benefits listed, make a list of people who have a need that your benefit fulfills. For example, a graphic designer could choose to target businesses interested in increasing their client base. While this is still too general, you now have a base to start from.
Choose specific demographics to target.
Figure out not only who has a need for your product or service, but also who is most likely to buy it. Think about the following factors:
- Income level
- Education level
- Marital or family status
- Ethnic background
Consider the psychographics of your target.
Psychographics are the more personal characteristics of a person, including:
Determine how your product or service will fit into your target’s lifestyle. How and when will your target use the product? What features are most appealing to your target? What media does your target turn to for information? Does your target read the newspaper, search online, or attend particular events?
Evaluate your decision.
Once you’ve decided on a target market, be sure to consider these questions:
- Are there enough people who fit my criteria?
- Will my target really benefit from my product/service? Will they see a need for it?
- Do I understand what drives my target to make decisions?
- Can they afford my product/service?
- Can I reach them with my message? Are they easily accessible?
Don’t break down your target too far! Remember, you can have more than one niche market. Consider if your marketing message should be different for each niche. If you can reach both niches effectively with the same message, then maybe you have broken down your market too far. Also, if you find there are only 50 people that fit all of your criteria, maybe you should reevaluate your target. The trick is to find that perfect balance.
You may be asking, “How do I find all this information?” Try searching online for research others have done on your target. Search for magazine articles and blogs that talk about or to your target market. Search for blogs and forums where people in your target market communicate their opinions. Look for survey results, or consider conducting a survey of your own. Ask your current customers for feedback.
Defining your target market is the hard part. Once you know who you are targeting, it is much easier to figure out which media you can use to reach them and what marketing messages will resonate with them. Instead of sending direct mail to everyone in your ZIP code, you can send it only to those who fit your criteria. Save money and get a better return on investment by defining your target audience.
New technologies are creating constant disruption and change in the digital marketing industry – with no signs of slowing down. To stay competitive, marketers and media and advertising professionals need to keep up with the changes by learning and mastering new skills constantly. So what skills are in demand?
Here are the top 10 digital marketing skills that are essential to achieving success in the future.
1. Web Analytics – In the era of big data, harnessing the power of information to enhance customer experiences and generate value is imperative.
One of the key digital skills required to achieve this is analytics – understanding data and knowing what to do with it. Understanding the basic principles and tools and being able to apply techniques will allow marketers to unlock the power of data and optimize digital activities. Without this skill, today’s marketing team will struggle to be effective.
2. Conversion Rate Optimization (CRO) – Having the skills and know-how to optimize websites to turn hard-earned visitors into leads and sales is exceedingly important for businesses. To be effective in conversion rate optimization, you need to know how to set up, track and interpret site statistics and turn them into valuable, actionable insights to convert visitors into customers.
Knowing how to test, analyze customer paths and interactions and continually optimize copy to achieve online objectives is an invaluable skill-set for any marketer.
3. Content Management – Social media and search algorithms are increasingly focusing on providing valuable, quality content to audiences – which makes content the long-serving king of the digital world. Yet there is an incredible amount of meaningless and poor-quality content floating around, as businesses struggle to find a qualified and skilled staff to create top-notch pieces.
Skills in this area are important, as it feeds directly into other areas of marketing, such as email, social and SEO.
So what makes a good content manager?
Solid understanding of digital marketing and strategy coupled with good copy writing skills!
Copy writing is a digital skill that is key to delivering quality content to consumers and it can be learned. Creating punchy headlines and learning the basics of style and structure as well as knowing how to write for different online channels will earn you big brownie points in any marketing department.
4. Omni-channel Campaign Planning – Delivering a clear and consistent message about a company, products, and services across multiple communication channels are no easy feat! Managing customers from channel to channel to ensure they have a seamless experience requires careful planning and a deep understanding of not only channels but also customers.
Seeking out digital partners, utilizing digital channels successfully, understanding consumer awareness, acquisition, retention and being across budgeting, testing and measuring are all key components of effective digital campaigns.
Digital campaign planning is, therefore, a sought-after skill that today’s digital marketers must possess.
5. Customer Experience (CX) – Businesses are increasingly interested in hiring professionals with CX experience and skills, in order to keep up with increasing customer expectations. While developing and designing user experience (UX) has become a freestanding role on its own, marketers need to have a well-formed understanding of the customer experience across all the company owned channels and importantly the company’s website.
6. Social Media Marketing – The digital landscape today incorporates consumer use and habits in social media and so it is imperative that marketers understand how to maximize their brand and marketing efforts in the social channels that matter. More importantly, the skill in tracking, reporting and delivering ROI in social is critical for marketers today.
7. Marketing Automation – Marketing automation allows businesses to scale their marketing programs and achieve better ROI. The demand for professionals with technical skills to either aid marketing automation or to have intelligent, knowledgeable conversations with IT departments in outlining marketing requirements for automation, is critical.
8. Mobile Marketing – Mobile marketing is a complex subject. It incorporates not only a single device in a multiscreen world, but also multiple channels and platforms, coupled with targeting, user habits, tactics, new technologies, apps and more. Understanding how to acquire the mobile audience, but also creating a great experience for them as they go through that mobile journey are the critical success factors.
Mobile is also very personal, and marketers have a unique opportunity for customization and personalization through this device.
It is clear why mobile marketing is a highly sought after skill-set in the digital era.
9. Privacy & Compliance – Big data, multi-platform marketing and new technologies disrupting the industry are also creating a sense of uncertainty around privacy and compliance.
Businesses require digital professionals to be across regulatory obligations in order to develop and maintain a solid reputation.
There is a myriad of issues relating to privacy and compliance: misleading advertising, consumer rights, the Spam Act and Privacy Act, collection, management and use of data. Understanding these and the implications of not keeping to these regulations is a vital part of digital marketing.
10. SEO and PPC – Contrary to past predictions about Search Engine Optimization (SEO), the practice is still very much alive and kicking. In fact, it is growing and evolving rapidly and skills in the practice have never been more important.
Skills in two key components of SEO are especially important to businesses:
1. A deep understanding of inbound marketing and knowing the importance of providing value to customers through content.
2. Technical skills in delivering customer value through SEO: keywords development, tracking, measurement, optimization, and back linking.
11. Pay Per Click (PPC) marketing can transform businesses at a relatively low spend. Because it is a cost-effective marketing tactic, PPC skills are highly valued. An understanding of search engine marketing (SEM) strategy and how it integrates with online and offline channels is a key component of PPC.
If you know how to drive targeted traffic to a website at the lowest possible cost, you’re a PPC gun that businesses will be fighting tooth and nail for!
- Digital marketing jobs in Chennai for freshers
- A job description of a digital marketer
Digital Marketing is a fascinating aspect of running an interesting and ever-changing way to increase your income. There are a great many different ways to customize it for different business types. This can be challenging for a newcomer and do not have any idea where to start.
The following digital marketing tips can help you ready for the challenge ahead of you.
It is a mailing list containing your customers. Give your clients the opportunity to opt-in to signing up with a subscribe link or making their email address.
You have to have a superb website before worrying about getting it ranked. This needs to be the first thing anyone who is creating an online business. The more aesthetically pleasing your site looks, the less work you will have to do going forward.
Always be prepared to cover any questions potential customers may have. People visit your site seeking knowledge, and if you can’t provide it to them, then chances are they will not be with you very long. Providing copious amounts of information in easily-digestible content will answer all of your sites.
You already have everything you need to be a successful digital marketer. You are perfectly capable of achieving your goals without help from software programs or any other get rich quick medium; all you need is yourself. Just work hard and imagine what you can achieve when you are marketing strategies carefully.
Big business does not develop through sheer luck. Do you believe that Coca Cola just hit a stroke of luck when they developed their soda drink idea? They used skill and a lot of hard work marketing their product.
It may seem overwhelming to decide which direction your business and website will offer. It is best to choose a niche that you find both knowledgeable and enjoyable. Marketing your website will be easier when you have a target.
Read the various studies done on the psychology of Digital Marketing online. Psychological factors can drastically affect the way that someone perceives your brand, established by the theme, outlay and colour of your website. You can apply this information in order to ensure your overall profit is maximized.
Make sure that your website makes your links highly visible. This lets people interested in your audience engaged and they won’t have an easier time finding what they’re looking for.
Keep your site relevant and fresh to improve its quality. A well-received and current site is one which will more people.
A CRM (customer relationship management) is a great list management tool. Use it to identify past and current customers and their respective purchase history. You can highlight items that they may interest these customers.
You can also add products together and sell them together as a bundle. Make sure to describe the terms of your offer.
Partner up with other online businesses to create interesting combination deals that will attract customers and help you share your customer bases. You can directly increase your sales go up. This is a great tactic for business with similar products without being rivals.
Try to create a site that customers feel like they’re in control. This is important with a marketing world full of spam and unwanted opinions. Make sure they know that participation is voluntary and you will be seen as much more credible.
It is helpful to have a 500 error web page that is user-friendly. This happens when the web site’s code is malfunctioning and not working properly. A typical error page will just say that the connection has simply timed out. There are much more effective means for making users aware that you are trying to fix it.
This will help your customers to feel more secure and give you and your company.
Try to regard Digital Marketing as being a hobby rather than a job, as this will give you a better chance for success. If you are skilled in Digital Marketing, you will have extra motivation to succeed each day.
Think about incorporating words such as “simple” and “easy” to describe your digital marketing strategy. This is one great way to improve your business.
Try creating a page for public relationships to help out your business’s marketing. You can put any publications there or anything that has been in online newspapers and magazines if the news. This is an easy and effective one for promoting your business to the public.
It’s important to let your website visitors that your e-commerce system is totally secure. People are wary of sending personal information over the Internet, so allay these fears by telling people that their personal information is safe with you.
You can give free shipping to the first 100 customers. This will entice people to buy the products on your products.
For successful Digital Marketing, try mentioning guarantees in your promotional content. While the value of a guarantee is based on the integrity of the company that provides it, they will greatly enhance the number of sales you generate. A guarantee makes people feel confident about trying a purchase.
You will need to generate leads to get good sales. Real-time leads are great because they give you and a potential customer during the moment in which this person is looking for product information. You should not slack on contacting them; this way you will be more apt to get access to that customer the moment they request information about your products.
People are impressed by the power and listen to you if you have an important title. If you are the owner, become the CEO or President. If not the owner, still see if there is a title that you can create that gives a sense of presence and strength.
Consider implementing mobile marketing could be. Let your visitors sign up to receive text alerts whenever you have a big sale. This up-and-coming form of advertising that will give you assistance in your marketing campaign.
There are many aspects involved in effective Digital Marketing. It can be a curse because it is overwhelming to have so many choices, but it is a gift because you have so many things to work with. The tips here should make things a little simpler for you.