In the current context of financial instability, increasing complexity of financial instruments and decrease in collected funds, applying marketing to financial products and services have become essential for the sake of attracting new customers and retaining the existing ones.
Indeed, in the financial services sector, competition is fierce. You probably know how difficult it is to stand out of the crowd, especially because diversification on new asset classes is commonly used and customers are more and more opaque to the advice issued by bank staff.
Therefore, To win back customers, convince and persuade them, it is necessary to get to reach them by knowing them better, putting them at the heart of the business, identifying their real need and even exceeding their expectations.
For that reason, financial organizations have been implementing different strategies to wage successful marketing campaigns with good ROI. did I just say successful? yeah, in fact, a financial marketing campaign has to be impactful and profitable. Not only it has to generate awareness and traffic, but it should also generate new sales, revenues and profits. After all, no marketer would want to spend their budget on a campaign that doesn’t allow them to achieve their objectives and generate enough profit in return.
In this article, we will shed light on five different financial video marketing campaigns that explain their products and services in an engaging, cost-effective way. We will discover the strategies that have been carried out by each marketing initiative and to what extent they are successful.
Read the article and watch the videos to get inspired and draw new and original ideas for marketing your own financial offerings.
“Mutual Funds Sahi Hai” Campaign by AMFI :
“Mutual Funds Sahi Hai” is an awesome example of a cross-media campaign launched in March 2017, by the Association of Mutual Funds in India (AMFI) and promoted by cricket celebrities.
The campaign aims to position Mutual Funds as the right option for potential investors including small ones, given that for a large majority of people, Mutual Funds have always been a concept that is intuitively very complicated to understand.
This campaign is an outreach program to raise awareness of investing in Mutual Funds among common public and communicate its benefits, particularly for long-term wealth creation.
Using regional languages of different states and a familiar style to illustrate several backdrops about mutual funds such as the difference between mutual funds and shares, why is investing better than saving, what is the ideal amount to start investing in a Mutual Fund, and much more, have helped the campaign to ensure an impactful presence.
Indeed, “Mutual Funds Sahi Hai” campaign, has helped the industry to grow significantly over the last 2 years from Rs 18.5 trillion in February 2017 to Rs. 24.6 trillion in March 2019. What’s more, it has led to 50 lakh new people investing in mutual funds over just 12 months.
“We are what we do” Campaign by NatWest:
In its latest marketing campaign, which launch has coincided with the Brexit time, NatWest, a major retail and commercial bank in the United Kingdom, spots light on the good feeling of being a savvy saver. As the old saying goes: “Count the pennies and the pounds will look after themselves”.
Based on research from the Money Advice Service, which is a British organisation whose statutory objective is to develop and coordinate a national strategy to improve people’s financial capabilities, NatWest has decided to launch its free financial education programme, MoneySense, to teach UK children aged 5-18 years how to feel “money confident” for the rest of theirs lives.
Indeed, the research claims that young people’s attitudes to money are established by the age of seven. And shows that only 43% of young people are confident about managing their money and 32% have no experience of putting money into a bank account.
In 2019, NatWest MoneySense reached over 1 million UK children, for the last 25 years. It has been offering free resources to teachers at schools and parents, as well as extra lessons about money management, based on real-life situations, and run and supported by volunteers from the bank.
“Saving feels good. Winning feels better” Campaign by nationwide Building Society:
NationWide’s new advertising campaign, held under the slogan “Saving feels good. Winning feels better”, is not only an initiative from the British mutual financial Institution to attract new customers, but also to push people towards the habit of saving money each month by offering them the chance of winning a cash prize.
Yes, that’s true, saving £100 or more in a Nationwide cash ISA (Individual Savings Account) between 6 March and 30 April 2020, will automatically enter you into their prize draw for a chance to win up to £20,000.
using comedians like Adam Rowe, Amir Khosohkan, Laura Smyth and Esther Manitoto, to showcase their personal experiences makes the topic of saving money become both relatable and light-hearted.
“It’s either hell or Habito” campaign by Habito:
Habito is a fintech startup that can pull together all 20,000 mortgage products in the market from over 90 lenders, to give you a recommendation in real-time at your convenience, from wherever you are.
Added to that, it takes into consideration the fact that 50% of UK households are overpaying on their mortgage to the tune of about on an average of £4000 a year, which is a considerable cost, and that’s why our digital mortgage broker is paid only by the lenders and never charges the consumer. Therefore it will sort your mortgage, from start to finish and most importantly, it will do it for free!
“Hell or Habito” is an animated disruptive advertising campaign, that illustrates, in typically dramatised fashion, the hellish experience that most first time buyers go through when they want to purchase there dream property: first confusion, cost, time and stress traditionally associated with the mortgage application process, together with the rival bidders that are snapping at your heels which makes you in a race against time to close the deal. The campaign shows how Habito can help its clients to easily get ahead with the home-buying process.
“Ready for life surprises” Zurich Insurance Group Campaign:
Zurich Insurance Group is one of the world’s largest financial services companies with nearly 55,000 employees serving 210 countries.
The company specialises in property, health and life insurance for individuals, businesses and multinational corporations.
According to Zurich Insurance, life is full of surprises, but it comes with uncertainties too. You’ll never know what lies tomorrow, so you can never be too prepared should the unexpected happen to you. Hence, If you want to ready your family for life’s unexpected incidents, you need to consider comprehensive life insurance that provides a financial safety net when you and your loved ones will need it the most.
In its commercial Video, Zurich demonstrates how it can help you choose the right plan to safeguard your future and that of your family.
When it comes to pennies, financial institutions should be clear about the reason why their customers have to trust them and not the competition. Basically, trust is the main issue that they need to overcome. Therefore, to establish trust with their potential clients, they need to build a strong foundation and emphasise their unique selling preposition while responding to three major needs: exceptional digital experiences, rewards, and convenience.
Hiring influencers and celebrities for financial marketing campaigns is also a good strategy to reach more potential customers, as the example of “Mutual Funds Sahi Hai” Campaign by AMFI has shown.