- Be an industry expert. As a member of the Financial Services industry, you must be an expert on the economy as a whole -- not just an expert of your own particular niche. One thing we’ve learned from the recession is just how interconnected the Financial Services industry is: decisions and regulations in one sector often impact dealings in another. For example, as interest rates were lowered through the recession, consumer interest in refinancing increased at a sustained level. As a marketer, you must stay on top of these trends to understand how they impact your business and your customers.
- Adjust your online advertising strategy in reaction to consumer behavior or industry trends. If you notice a particularly pertinent financial ruling or piece of news, use Insights for Search to learn how this change has impacted search behavior. For example, as Congress considered extending the Bush Tax Cuts recently, consumer searches spiked. What an excellent opportunity to get your name in front of your target audience in order to get the most out of your marketing budget!
- As an example, Humana insurance recently noticed changing consumer behavior and incorporated industry trends into their marketing strategy. In reaction to changing healthcare reform and later medicare enrollment, Humana took the opportunity to educate their customers via a YouTube brand channel and edited their ad text to include pertinent terms, such as ‘affordable.’
- Manage your online brand and reputation. For better or for worse, there are now countless channels through which you can influence your brand online. I recommend setting up Google News Alerts that trigger when your company name is mentioned. I also recommend creating Profile Pages, listing your business on Google Places (only, of course, if you have a brick and mortar address), and testing new Google ad formats that showcase your product or service, such as SiteLinks.
- Engage with your customers online. And finally, to build upon your online brand, it’s important to interact with your customers online. Engaging with your customers online can also help you better understand if/how economic trends are impacting them -- and this can help you make business and advertising decisions. I recommend creating Twitter, Facebook and YouTube identities to solicit feedback and engage with your customers!
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