Digital marketing in finance
What are the risks of digital marketing for financial businesses?
If implemented wrongly, digital marketing is a huge risk to the business. Regulatory authorities for example may not approve of you offering in the public domain if it does not meet regulatory requirements. Digital marketing platforms like Facebook and Google for example might blacklist your organisation and company for breaching advertising guidelines such as a limit on offer of securities on Facebook.
Also, your content must also be professionally crafted to engage and ultimately convert HNWI clients. Without the right content, a poor message will be conveyed. Your brand equity will suffer.
Finally, if your analytics and targeting is not done correctly, your conversion rates might be very low. For example, if you try to digitally market an equities product to HNWIs on Facebook who have a great interest in equities, you may discover that they are unlikely to buy into your product because the audience you targeted have already been heavily vested in equities with little room for further allocation. To tackle the challenges of detailed targeting, customer analytics, campaign planning, content management and regulatory compliance, guidance and assistance from experienced experts will not only be of assistance but can be the crucial difference.