Innovate or die is, without question, the mentality that all finance firms need to adopt in 2020.
But this might not come naturally to all – especially those who rightly point to economic uncertainty as their reason for “playing it safe”.
As we’ve already touched on in our ‘Finance sector landscape 2020’ infographic, firms are set to be tested by a series of challenges, chiefly persistent low growth, low inflation/deflation, and near-zero/negative interest rates.
But with competition for market space more intense than ever, standing still could result in your customers walking away.
How is marketing the answer?
It’s never been more important to show your customers that you’re doing things differently from the rest.
Creating a clear, consistent and remarkable story is how your business will get noticed, and marketing can enable you to stand out from the crowd.
In 2019, we saw financial firms really put themselves out there to set them apart from their competitors. From Santander’s ‘Bank of Antanddec’ campaign to Barclays’ confrontational ads about ‘Making money work for you’, the finance sector took a number of creative risks last year, having recognised that the fight for customers is more fierce than ever.
But in an industry that’s dictated by strict regulation, creativity isn’t always easy to come by, with compliance often being the first thought.
That’s where a marketing agency can provide real value – they’ll take an objective look at your offering to devise new and out-of-the-box ways to find customers.
When the economy is conspiring against you, marketing campaigns need to provide results. Of course, no marketing agency can guarantee results, but a digital marketing strategy built on fact, rather than assumption, significantly increases the probability of success.
Don’t just take our word for it!
Bespoke Commercial Finance has been working with us for over a year now, having initially come to us for help growing their finance house. When asked to comment on the partnership, Neil Nisbet, Director of Bespoke Commercial Finance said:
“Catalyst made clear exactly what we needed to do to capitalise on the opportunity and which tactics would work best. I’m a complete luddite when it comes to marketing but they made it very clear not just what we were going to do, but also why. The result was a solid pipeline of new opportunities to complement the referrals I’d already got.”
Here at Catalyst, we’re a marketing agency that has all the tactics and tools at our disposal to drive and nurture leads. If you’d like to find out more about how we can help you meet your objectives in 2020 – and overcome any obstacles – contact Doug@wearecatalyst.co.uk or call 0121 296 5275 and ask for Douglas.