How can banks get closer to customers through influencers?
Influencer marketing can be a powerful tool for communicating financial services.
Scope: Competitor analysis, market analysis, creative concept development, influencer marketing
Industry: Finance
Duration: 3 projects x 1 month
Executive summary
Challenge
- Many diverse target groups requiring differentiated lines of communication
- Difficulty in presenting financial services in practice
- A necessary shift away from traditional forms of marketing to personalized communication with customers
Actions
- Analysis of the market and the ways of using influencer marketing among financial institutions
- Analysis of the needs and behaviors of 4 target groups
- Research and selection of influencers matched to the analyzed groups
- Ideation and preparation of creative concepts
Results
- More than 10 diverse creative concepts of campaigns with influencers to support the sale of financial services among each of the analyzed groups
- List of influencers with a great potential for cooperation in the promotion of banking services
- Broadening the client’s knowledge about customer interests and behaviors in four different target groups
Service description
While working on concepts for each target group, we analyzed how their representatives approach financial services and how this affects their daily needs. We also learned how they spend their free time, what values they follow and what shopping choices they make. Based on this information and the market analysis, we prepared campaign concepts to support the sale of financial services. We also selected influencers (campaign heroes) matched to the client’s brand.
Our client
International institution providing services to financial entities and their customers.
Challenge
The client’s challenge is to communicate financial services in a way that is attractive and interesting to the intended audience.
What’s more, the client must tailor its communications to diverse target groups that have different needs and preferences.The high level of competition in the market also implies the need to move away from traditional marketing tools. It is therefore necessary to provide more personalised communication to establish a long-term relationship with the audience.
What’s more, the client must tailor its communications to diverse target groups that have different needs and preferences.The high level of competition in the market also implies the need to move away from traditional marketing tools. It is therefore necessary to provide more personalised communication to establish a long-term relationship with the audience.
Our goals
Our goal was to best understand each of the target groups that our client wanted to reach. A thorough analysis of these groups helped us create reliable and effective concepts and select influencers for them.
Key actions
At the beginning of the project, we carried out an analysis of the needs and behavior of four diverse target groups. Our goal was to understand their practical approach to financial services. The next step was to conduct a comprehensive analysis of the market and how influencer marketing can be used in financial institutions. Based on these analyses, we ideated and prepared creative concepts that allowed us to effectively communicate financial offers to customers in a more personalized and attractive way. In the final stage, we researched and selected influencers who were best suited to our target groups and the client’s brand, which allowed us to refine effective marketing campaign concepts.
Results
By analysing the needs and behaviour of 4 diverse target groups, we were able to develop more than 10 differentiated creative concepts for campaigns with influencers. Each of them effectively supports the sale of financial services among the analysed groups. In addition, we made a selection of influencers with great potential for cooperation in the promotion of the client’s financial services, including in future activities.We have also broadened the client’s knowledge about the behavior and expectations of representatives of his target groups.
Client benefits
Our client received concepts for marketing campaigns that included activities beyond traditional communication channels and a list of influencers tailored to his diverse target groups.The materials prepared by us have been used as a basis for networking with the client’s business partners.The project and the data that we collected also gave the client the opportunity to look at his audience groups from a different perspective.The client learned about the less obvious needs of his audiences, which do not directly relate to financial services, but allow a better understanding of their behavior.
The use of influencers in communications regarding financial services allows customers to better understand their benefits. Influencers give a communication a context that is more credible to the customer and easier to relate to.
Iga Stachowicz
| Project Manager, Innovatika
Summary
Exploring new channels of marketing communication is very important in markets where it is difficult for audiences to practically see the advantages of services or products and recognize the differences between available offers. Our participation in the project allowed us to provide the client with new ideas and tools for conducting personalized communication with the audience. Our research also provided a new perspective on their needs and behavior, which in the long term will support the building of long-term and more personal relationships.
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Jerzy Kurgan
Managing Director