# How to implement a holistic digital marketing strategy in finance Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2019-03-28 Category: FINANCE Category URL: https://financedigest.com/category/finance Meta Title: Why New Wave of Digital Tools are Revolutionising Brand Meta Description: Learn how forward-thinking brands are using new digital tools to serve customers in more useful ways. Stay relevant and engage with consumers effectively. Tags: featured Tag URLs: featured (https://financedigest.com/tag/featured) URL: https://financedigest.com/how-to-implement-a-holistic-digital-marketing-strategy-in-financehtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/www-1736839088054-compressed.jpg) _By **Kevin Joyner**, Director of Planning and Insight, [Croud](https://croud.com)_ A great advertising campaign has an effective slogan, provides a useful solution and evokes an emotional response. But the customer experience of a brand doesn’t stop there and it must go further to maintain its relationship and connection with consumers to prove its value. Consumers now expect personal, interactive, adaptive communication rather than irrelevant one-sided mass content. The new wave of digital tools and platforms are allowing forward-thinking brands to develop more sophisticated digital [marketing models that serve customers](https://www.financedigest.com/the-cervical-total-disc-replacement-market-to-grow-based-on-customized-digitization.html "The Cervical Total Disc Replacement Market to grow based on customized digitization") in more useful ways and have a real relevance to their day-to-day lives. This shift in attitude and intention from visionary [companies means all brands have needed to up their game](https://www.financedigest.com/game-company-roblox-enabled-girls-sexual-exploitation-lawsuit-claims.html "Game company Roblox enabled girl’s sexual exploitation, lawsuit claims") to stay relevant. Banking is in an exciting and unique position. It has an opportunity to use rich sources of data, through the emergence of [open banking](https://www.financedigest.com/how-accountants-can-improve-financial-planning-and-results-through-open-banking-to-help-smes.html "How accountants can improve financial planning and results through Open Banking to help SMEs"), in a responsible way that makes experiences more personal, meaningful and, crucially, more useful for customers. The director of marketing at Lloyds Banking Group [recently admitted](https://www.marketingweek.com/2019/02/27/lloyds-success-social-media-marketing/) the team struggles with measuring the ROI in social and content and has found it hard to implement a successful digital marketing strategy, despite personal and stunning brand advertising driven by the emotional message ‘By Your Side.’ These kinds of tentpole campaigns are great at sustaining brand equity but are not enough to build or rebuild a brand, on their own. When an ad campaign like this opens the conversation between brand and customer, brands should be desperate to continue the dialogue rather than seeing it as an [end point](https://www.financedigest.com/ecb-goes-big-with-50-basis-point-hike-ending-negative-rates-era.html "ECB goes big with 50 basis-point hike, ending negative rates era"). If Lloyds can build an emotional connection and trust through traditional advertising, it is in a position to [amplify this digitally](https://www.financedigest.com/the-stem-cell-therapy-market-to-get-digitally-amplified.html "The Stem Cell Therapy Market to get digitally amplified") to create richer, more interesting, truly personal content. Everything Lloyds knows of the consumer, from their bank balance to the way they’ve [interacted with the brand](https://www.financedigest.com/bad-interactions-and-unethical-practices-impacting-brand-loyalty.html "Bad interactions and unethical practices impacting brand loyalty"), should be fed into how they next engage. Lloyds needs to learn how to take an initial connection and use it to talk [directly to consumers](https://www.financedigest.com/direct-to-consumer-the-rite-of-passage-for-retail-in-2022.html "Direct to Consumer: the rite of passage for retail in 2022") as individuals. That’s the joy of digital – it’s constantly evolving and never-ending and can establish a much more natural relationship. An example of a brand that is getting it right across the board is [Nest](https://nest.com), the connected-home devices company that is a subsidiary of Google. It [sells products](https://www.financedigest.com/itv-shares-jump-on-reports-it-could-sell-stake-in-production-arm.html "ITV shares jump on reports it could sell stake in production arm") at a premium price and then consumers also need to pay to subscribe for top-level services – how does Nest justify this? By becoming a true partner embedded in the [customer’s life via a deeply personal and effective](https://www.financedigest.com/5-simple-steps-to-an-effective-customer-complaint-response-strategy.html "5 Simple Steps to an Effective Customer Complaint Response Strategy") ongoing relationship. Nest emails me monthly updates with a detailed plan of my energy use, maintains excellent customer service and blends product, design and [marketing into a perfect customer experience](https://www.financedigest.com/how-omnichannel-identity-servers-help-enterprises-enhance-customer-experience-unlock-cost-savings-and-accelerate-time-to-market.html "How omnichannel identity servers help enterprises enhance customer experience, unlock cost savings and accelerate time to market") which is truly holistic and justifies the value it gets from me as a customer. Challenger bank [Revolut](https://www.revolut.com) is almost shameless with its personalisation. When I go on holiday it uses my personal location to know when to activate my travel [insurance and when I’m home](https://www.financedigest.com/what-is-the-difference-between-a-home-warranty-and-home-insurance.html "What is the Difference between a Home Warranty and Home Insurance?") it is deactivated, without me needing to notify the company. This is so simple but fundamental in the service it offers, and it’s been made possible by [innovative technology](https://www.financedigest.com/cloud-professional-services-market-to-be-driven-by-technological-innovation-tmr.html "Cloud Professional Services Market to be Driven by Technological Innovation | TMR") that is used to make my life, as a customer, easier. This is the direction, and the kind of experiences, financial institutions, such as Lloyds, should be pursuing. It’s no secret that traditional brands have struggled to [adopt nimble digital marketing strategies](https://www.financedigest.com/image-guided-surgery-devices-market-recent-industry-developments-and-growth-strategies-adopted-by-players.html "Image Guided Surgery Devices Market: Recent Industry Developments and Growth Strategies Adopted by Players") that offer effective personalisation. They can no longer afford to get away with treating [customers as homogenous rather than on a truly individual basis and now that the expectation](https://www.financedigest.com/how-omnichannel-cx-can-help-insurers-meet-customer-expectations.html "How omnichannel CX can help insurers meet customer expectations") bar has been set so high, consumers will not be reticent to let laggards know. Banking institutions are at a crossroads and have the means at their disposal to be leaders in [digital innovation](https://www.financedigest.com/the-cellular-imaging-market-to-show-an-inclination-towards-digitized-innovation.html "The Cellular Imaging Market to show an inclination towards digitized innovation") – but they must act now. --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---