Digital advertising and marketing represent potent tools for financial institutions wishing to expand their market area. Digital advertising and marketing allow financial institutions of all sizes to focus their efforts on those audiences most likely to respond to those efforts. The digital marketing strategies listed below represent some of the most effective approaches to obtaining new customers and expanding market area. 

Identify the Target Audience
Generalized advertising is expensive and ineffective for all but the largest national and international corporations. A smarter strategy, especially for smaller financial institutions, is to determine who the target audience is and direct advertising and marketing dollars accordingly. Categorizing the present customer base is a good start, along with taking the time to analyze potential customers. 

The Power of Facebook
Social media represents one of the most potent forms of marketing. But it’s not enough to post updates and hope that at least one of them goes viral. Facebook paid advertising is an especially good marketing avenue. It is relatively inexpensive and can be targeted on a granular level according to location, demographics, interests, and other factors.  Utilizing Google analytics to interpret the reach of your marketing efforts allows you to see what’s working and what is not. 

Maximize Website SEO and ROI
In the 21st century, financial institutions that do not have an online presence through a website can hardly consider themselves to be in business. Savvy customers expect access to robust, feature-rich online banking services such as bill paying, statement reconciliation, and either a mobile-friendly website, or better yet, a dedicated mobile app. 

A good website performs double duty, by implementing smart search engine optimization (SEO) tactics such as relevant keywords and Meta tags. These “white hat” SEO tactics help a website place higher in online search results, thereby drawing more traffic to the site.  Useful content, such as a personal finance blog, establishes a financial institution as a thought leader – enhancing its desirability among potential customers. 

For more tips on how to employ digital marketing, automated lending decisioning and other digital tools to gain more customers, check out the Lendsys website. 

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