In recent years, the financial sector has been embracing the move to digital disruption. Reputed financial organizations need to know about their customers to market personalised financial products and services. However, the financial sector is yet to take advantage of the opportunity offered by programmatic data-driven advertising. New, innovative business models in India such as contactless payments like Paytm, and peer-to-peer lending platforms like Cleartax are changing the way customers view finance. In other APAC countries the digital trends are evolving, such as Singapore, which happens to be one of the only markets globally to cross 90% penetration for contactless payments.
Financial services marketing is highly competitive and customers today are more demanding than ever before. Using programmatic marketing, it’s easy to create an audience model around specific search terms and use this data as a basis for identifying similar (anonymous) users before they have begun searching for a particular financial product.
There are a variety of finance products and services available, ranging from insurance, tax advisory services to mortgages or loans. Promotion of a new mortgage/loan opportunity to a prospective homeowner or marketing a credit card to a new university student or a fresher, will require unique targeting tactics. The time taken by a prospect in researching financial services will need to be considered when building your campaign.
Generally, interest and intent-based audience segments take a larger portion of the audience targeting methods for finance campaigns, there is also the use of custom segments, retargeting pools and lookalike audiences. With the financial services industry being prone to laws and regulations it’s important to engage with the right partner who can evaluate and execute the campaigns with the right compliance.
The Road Ahead
Forward-thinking financial marketers need to start researching the opportunities to leverage the real-time changes in consumer behavior offered by programmatic ad buying.