Why Should You Pay Attention to Marketing in the Financial Industry?
The digital wave has shifted financial marketing online, posing a challenge for traditional institutions to balance compliance and creativity in a competitive market. Reports predict the global digital banking platform market will grow at a 11.2% CAGR by 2026, reflecting the rise and potential of digital banking. Yet, expanding digital financial services also heightens ad fraud and security risks. Recently, the Financial Supervisory Commission (FSC) urged financial institutions to avoid advertising on social media platforms without real-name authentication to mitigate the risks of fraudulent ads. With some state-owned banks have already responded to this call, it shows that financial institutions must take into account both marketing promotion and the maintenance of brand trust in their marketing strategies.
This reminds financial brands that, alongside innovation and growth in digital marketing, they must prioritize compliant and secure advertising environments to safeguard consumer rights and ensure a healthy market ecosystem. In this evolving landscape, financial brands leveraging cutting-edge technology and data-driven strategies can boost competitiveness, target audiences more precisely, and unlock greater market value!
Why Should the Finance Industry Adopt Rich Media Advertising?
The pandemic accelerated shifts in consumer behavior, pushing traditional banks to digitize fast for convenient, real-time services. Financial brands are targeting younger markets with high spending potential and openness to new products, which offer big growth opportunities. According to research reports, the primary barriers to financial investment for young consumers are a “lack of time to understand financial products or markets” and “difficulty in determining the credibility of information”. For financial education, 45.7% of young people prefer self-education through reading, while 41.3% use social media, highlighting the critical role that social platforms play in financial information acquisition among younger generations.
With young consumers active across more digital channels, grabbing attention and engagement have become key to marketing success. In this trend, Rich Media ads stand out with their high visual impact, delivering 3.67 times higher click-through rates than traditional banner ads and significantly improving conversion outcomes. With premium placements and immersive visual experiences, Rich Media advertising empowers financial institutions to enhance brand exposure and boost conversion rates effectively!
Download the Finance Industry Guide now and you will get:
- Southeast Asia finance industry trends and growth insights
- Key marketing insights and digital opportunities
- Strategies for Rich Media ads in finance industry marketing
- A guide to 3-stage marketing: awareness, consideration, conversion
