Factors to Consider when
Building a Marketing Strategy for a Financial Institution

marketing woman staring at a whiteboard filled with notes and strategy

So, you’re a marketer for a financial institution and need to pull together a marketing strategy. Now what? The challenge is real; articulating a clear vision for the business can be a struggle. That said, overlooking the importance of sound strategy that informs creative work can be a missed opportunity. Consider the following ideas to make your company’s investments in marketing more effective.


Considerations for Creative and Strategy Implementation

marketing strategy using post-it notes to map out desired outcomesMap your desired outcomes.
You have to know where you are going in order to know where you are starting. Design a strategy roadmap based on what you hope to achieve and what is realistic for your company. Planning is critical to the strategic marketing process. Consider the idea of starting from the end and working backward to build your roadmap. For example, if you know you want to generate engagement on your financial institution’s app, what are the steps you need to make that goal a reality?


Connect with your customers.
Much like friendship, loyalty goes both ways. If you want customers to take an interest in your company and offerings, you need to have an interest in them. Get to know your customers. How are they similar and how are they different? What media channels do they prefer? What keeps them up at night? Read customer reviews, scan comments on social channels, talk with your sales team, and most importantly, listen to the feedback the organization receives.



Understanding and connecting with your customers allows you to personalize their experience and build out a successful buyer journey. Marketing teams sometimes overestimate their grip on customer perceptions. But being in touch with customers’ needs, wants, and worries is a critical first step in successfully implementing creative strategy.


Collect data — and then make sure to use it.
Data is a valuable asset. Turning that data into insights is even more valuable. If you do not have detailed metrics on how your marketing is performing, start collecting them. Not only is it important to track and measure, but you also need to look at the data regularly and use it to make smart marketing decisions.



Don’t overlook the treasure trove of potential data sources that may be available to you:

  • 3 person group icon watching data line increase on a web browser

    Web analytics can show how customers find your website, what they do when they get there, and where they abandon tasks.

  • customer profile picture icon with three stars above head

    Call center insights can inform about hurdles and frustrations that customers are encountering.

  • customer profile online icon

    App store usage data and user reviews can provide insights into features that are confusing or missing.

Team up for success.
Financial marketing can be difficult to navigate without a portfolio of tried practices. Consider working with a marketing partner offering proven experience within the financial vertical. Outsourcing this work can give you access to creative minds and strategic processes that you may not have in-house. Learn more about the marketing strategy that RAZR offers our financial clients.

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