The financial industry is in the middle of a digital revolution. As banking and financial services are becoming more competitive as they need to be where their customers are, i.e. online.
But marketing financial services is not like marketing any other product, as the industry is tightly regulated. While running a successful Google ads campaign we need a more strategic approach.
Google ads offers banks, financial advisors and other service providers the unique opportunity to target the right audience and drive qualified leads.
Optimize your Google ads for financial institutions
The following step need to be followed while optimizing Google ads-
- Understanding the regulatory environment- Banks and financial institutions must adhere to the compliance requirement. The regulations dictate how personal information is used, stored and they also require transparency in communication with consumers. Google also has its own set of rules i.e. the ads promoting financial products and services are not misleading and provide accurate information for consumers in order to make better decisions.
- Identify target audience- First challenge in the financial industry is that all customers are not equal. They need to differentiate between retail customers and corporate clients . Customer segmentation needs to be done based on demographics, location, income brackets and more. When consumers are choosing a bank or hiring a financial advisor, the journey is long. With retargeting through Google ads, we can keep our brand top of mind with the help of potential clients. A customer might not click on the ad today, but by retargeting them, we can increase the chances that they will return when they are ready to make a decision. With the help of Google ads, our ad will be visible to the right people at the right time with the right message.
- Develop a keyword strategy- With the help of Google ads, the financial sector faces unique challenges which require a strategic approach to keywords. We need to implement an effective keyword research strategy in order to stand out in the crowded marketplace and reach potential clients who are actively seeking our services. Long tail keywords can be used as they are more specific and potential clients might use when they are closing to make a decision.
- Choosing the right ad format- In the financial services industry choosing the right ad format can significantly impact your campaigns success. Understanding how effectively it allows us to reach our audience at various stages of the customer journey, whether they are ready to open an account today or just starting their research.
Conclusion
Google ads offers an excellent platform for banks, financial advisors and financial service providers to reach potential clients in a highly targeted way. Google ads allows us to connect with our audience at every stage of the decision making process. Google ads is a great tool for driving business growth as it helps us to connect with the audience and builds brand awareness and retargeting campaigns.
