Jan 30, 2020
If you don’t understand it, the financial sector can look like a boring meeting of grey suits and spreadsheets.
Even if you do understand it, it can still look like that!
So, when a financial brand really nails its marketing (and I’m talking when they really nail it), we sit up and take note.
In this blog, I’m looking at three super effective marketing campaigns from three super awesome finance companies. Have a read, look at what they’re doing and think about whether you can borrow any ideas for your business.
And if you want to learn more about modern marketing methods, why not download our free eBook on inbound marketing?
Have you heard of John Paulson? Since you’re reading a blog about financial marketing campaigns, I’m going to assume so.
If not, he’s pretty easily summarised: John Paulson is a very rich man. Not just very rich but exceedingly, grossly and absurdly rich.
Somewhere in the region of $8.6 billion rich.
Well, when Mr Paulson needed to generate some interest in his new business venture, MahiFX, he didn’t plough money into traditional advertising.
Instead, Paulson whipped up an interactive calculator that shows you just how quickly he’d earn your yearly income.
For reference, Mr Paulson makes the average UK yearly wage (around about the £28,000 mark) in just under four minutes!
Is it classy? Hell no!
Did it get heads turning? You betcha!
So, what can we learn from Mr Paulson and his gratuitous earnings?
First, there’s always a way to make data look interesting. Make it interactive, make it relatable and make it something that people actually care about.
Second, being different is good.
Unless you’re first to market with a brand new product, you will have competition and that means you’ll need a way to stand out.
Take risks and distinguish yourselves from the herd. Unless you go completely off the rails and claim the Queen’s a lizard person, the worst that will happen is you’ll turn a few heads.
Millennials make up one-quarter of the US and represents around $80 billion in buying power.
Traditionally, this audience doesn’t respond particularly well to the stuffy suit and tie marketing approach typified by mainstream banks.
Taking a quick look at a couple of UK-based bank blogs, the topics don’t exactly get my 26-year-old heart racing.
Sainsbury’s Bank is writing about seven happy home hacks to go from festive to fab. Exciting.
HSBC ramps up the thrill factor even further, covering maternity and paternity rights in the UK. Thrilling.
So, when new fintech startup NerdWallet burst onto the scene with a fresh voice, it got heads turning.
Jump over to NerdWallet and you’re immediately hit with topics like holiday debt hangovers, cash back credit cards and how to splash a tax refund on a new car.
The stuff that millennials actually care about, you know?
But, I hear you say, Millennials don’t have the financial worries of older demographics and don’t need our services.
Well, that might be true now but give it a year or two until they’re buying their first house or having their first kid, Then, when the worries set in, who do you think they’ll turn to? The stuffy corporate bank or the youthful brand that’s been talking to them for years?
So, what’s the takeaway message here? Drop everything, get on Instagram and start talking to prospects who are barely out of university?
NerdWallet nails the most important part of any marketing campaign: know who you’re talking to.
They have identified and researched their audience and now understand them to a tee.
You need to do the same. Whether you’re chasing retired baby boomers, retiring Gen Xers or fresh faced millennials, you have to really know who you’re talking to and what they care about.
The Bank of England, Barclays, RBS, Natwest, Lloyds, HSBC. Post-worldwide financial crash, those names don’t exactly fill you with confidence nor do they sound like organisations at the leading edge of the digital revolution.
For a lot of us they’re old, decrepit relics.
Seriously, go into a branch of the Royal Bank of Scotland and look at the computers they are using — it’s like watching a period drama! Chunky CRT monitors, yellowed plastic and bargain basement keyboards are all par for the course.
Thankfully, over the past few years, several challenger banks have burst onto the scene amid promises to revolutionise the banking industry.
These new customer-centric banks promise better service and claim their business models are built around their customers.
One of those banks is Atom Bank, who marked their customer-focussed mentality in a really innovative way: by allowing their customers to rename the bank and design their own version of Atom’s logo.
This might sound super gimmicky but it’s actually a really significant offer. Traditionally, banks like RBS and HSBC invest millions in corporate sponsorship and protect their brand like it’s the Ark of the Covenant and they’ve just spotted Indy.
Atom Bank goes in entirely the other direction and says: “We are whatever you want us to be.”
Atom Bank’s audience created 1.4 million logos before it even launched. So, before anyone had ever opened a Atom Bank current account it had any customers it already had people manipulating its identity and intimately engaging with the brand.
If you want awesome results in the super connected digital era, you’ve got to engage your audience whenever and however you can.
If you do it right, you’ll generate far better results than if you just shout about your services and how great you are.
So, that’s three awesome marketing campaigns from finance companies. If you want to know more about modern marketing techniques, download our free eBook on inbound marketing today. It covers all the basics and teaches you how to set up a marketing campaign designed and built for the digital era.