Financial services and insurance (FSI) companies that optimize their customers’ experience can reap handsome rewards in the form of higher conversion rates and greater market share. One of the keys to implementing a great customer experience across all channels is compelling content: an area seen as one of the most exciting opportunities for the FSI sector in the near-term future, according to an Econsultancy report. Below, we examine three key ways to improve the effectiveness of a digital content strategy as suggested by the same report.
Content that resonates: An exciting opportunity for FSI marketers
An FSI industry survey carried out by Econsultancy last year [Econsultancy: Digital Transformation in the Financial Services Sector – Meeting the many challenges] shows that companies see optimising customer experience as the greatest opportunity for setting themselves apart from their competitors right now.
Looking five years down the line, it is the ability to personalize communications and thus create captivating content that is seen as a refreshing opportunity in the FSI sector.
Three ways to ensure your communications hit home
As FSI companies look to tailor their message to individual customers, they are making data-driven marketing a top priority in coordination with the ability to manage communications and campaigns across channels and locales. Econsultancy’s research suggests the three following ways to make this strategy work:
Focus on excellent multilingual customer service as a good opportunity to deliver a superior customer experience
GeoFluent, a multilingual, real-time translation solution from Lionbridge, is one example of how technology can be used to deliver a superior customer experience. A cost-effective way for organizations to provide multilingual support without hiring bilingual staff, GeoFluent deploys a virtual translation engine to promote effective communication; no matter the language, channel, or platform.
Build trust through word of mouth
In the financial space, people look to the press, online articles, and influencers for advice and latest trends. Making sure people are talking positively about you, and that you are doing something different, is key in all of your geographical markets. Build your brand by becoming a thought leader; one to follow through influencers, people’s networks, and marketing campaigns.
Be accessible to your customers in the channel and the language of their choice
To ensure your thought leadership pieces resonate with your target market, it is important to partner with a multilingual content provider whose writers and editors have relevant cultural and financial knowledge. This helps to ensure you are visible in as many places as possible and support your multichannel, localised marketing campaigns.
Communication = higher conversion rates
Ultimately—financial providers offering timely, locally relevant, and personalized online experiences can look forward to an appreciable boost in revenues as a result of greater customer engagement. In fact, Econsultancy cites research by Accenture showing an increase of 30% or more in conversion rates for those who tailor their communications in this way.