• C.E.K. & Partners

Five Marketing Trends Companies within Financial Services Should Prioritize

Last year we wrote in n>genuity, a payments journal published by TSYS, Five Key Ways Card Issuers Can Improve Their Marketing This Year. This year we are updating it with five trends that should be prioritized.

What are the key marketing trends that B2B brands and those operating within the financial services and payment industry should prioritize?

Priority #1 | Customer Experience (CX)

Digital transformation is redefining customer experiences and expectations across categories – and it’s not just critical for B2C companies, but extends to B2B and those operating within financial services. Brands are increasingly differentiating through the customer experiences they offer. The best approaches to (CX) ensure brands are relevant and provide content valued by customers. Furthermore, it entails delivering experiences that are engaging and consistent across all customer touch points.

For more on this, check out the eBook, Cultivating Customer Experience: Differentiate—and Win—in the New Competitive Battlefield.

Priority #2 | Mobile Marketing

Mobile is the future. People are consuming more digital media on their mobile devices than their desktops. A Smart Insights study found the time a person spends with “digital media on mobile” is 2.8 hours – daily.

"A Smart Insights study found the time a person spends

with “digital media on mobile” is 2.8 hours – daily."

Brands must tailor digital communications to the mobile user starting with implementing mobile first responsive design, which allows websites to be viewed easily regardless of the device – phone, tablet or laptop. Brands that don’t do so will risk being left behind. This trend will continue to gain momentum in 2017.

Priority #3 | Mobile Apps

With nearly – if not already – 200 million U.S. smartphone users, mobile apps will continue to flourish this year. Apps, whether from a banking institution, card issuer or a loyalty program, must offer basic transactions – like the ability to check account balances, complete transfers and make mobile deposits. Apps should consider evolving to fully integrate other features like spending trackers or budgeting tools, photo-enabled bill pay and smartwatch compatibility.

Today it's assumed brands will offer an app – and now it's about making sure those apps are on par with expectations. Financial service providers must catch up or watch the industry disruptors advance ahead of them.