Jabborro Blog

Financial marketers will have to make the customer experience their number one priority if they hope to beat back the fintech threat. Traditional banking providers will need the right resources — a combination of both talent and bigger budgetary investments — to leverage data and personalize the customer journey, otherwise, fintech challengers could win consumers' hearts... for good. Can traditional financial institutions rise to the challenge and pull it off? A study from Adobe and eConsultancy shows that senior-level decision-makers in the banking industry have finally woken up to the threat that fintechs represent, and now concede that everything today — from marketing to the customer experience — revolves around digital channels. According to a study from Adobe, the proportion of financial services companies that viewed themselves as advanced in terms of digital maturity nearly tripled from 7% in 2016 to 19% last year. That’s a huge improvement, but there’s still work t

Banking providers continue to struggle with digital marketing — everything from how much budget to allocate to digital channels and how results should be measured. The Financial Brand asked digital marketing experts in the banking industry what they see as the biggest mistakes financial marketers make most often. Facebook, LinkedIn and Twitter icons Mistake #1: Taking the Same Approach on Every Channel Facebook, Twitter, LinkedIn and YouTube are all radically different social media platforms, each with its own norms. The same thing applies to traditional media channels — TV, radio, billboards, direct mail, etc. Each has a different strength that will have different appeal to specific and unique segments of the audience. There are times that the message and/or campaign objective lends itself perfectly to one channel (or more), while other channels might be completely inappropriate or ineffective. But banks and credit unions will frequently lump multiple channels together (e.g

As consumers increasingly manage their daily lives digitally, financial marketers must find new ways to reach them through online and mobile channels. Research from Mintel shows that the leading financial firms are increasingly investing in digital advertising that can support more personalized messaging. Yet many other institutions remain stuck in traditional spending habits. The majority of financial institutions did not reduce their broadcast and offline marketing budgets over the last 12 months, according to the Digital Banking Report. As in 2017, 34% of financial institutions allocated 50% or more of their media budgets to traditional media. As was the case last year, there was a lack of commitment to digital channels, with only 15% of organizations committing more than 50% of their budgets to online media, compared to 14% in 2017. Similarly, virtually no bank or credit union committed more than 40% of their budget to mobile marketing, with only 2% of organizations commi