Over the past few years, trust and the financial sector haven’t really gone hand-in-hand. With banks being bailed out across the globe and countries dealing with economic reform, the general public now approaches the financial sector with a bit more skepticism than ever before. In particular, we generally believe that banks and financial companies have poor ethical and moral standards — giving them even lower reputations. In fact, banking, insurance, credit, and investments are ranked as the lowest performing industries when ordered by trust.
So, if you work in one of these industries, you have a bit of a challenge when it comes to marketing and consumer outreach. You can’t ignore the elephant in the room but you don’t want to draw more attention to it. So, how can you move forward? Brands can confront crises and negative press, in order to avoid upsetting current customers and losing potential business.
It’s not all bleak though. There are some ways brands can break through and create smart strategies for connecting with consumers. Financial brands can connect with consumers on platforms like FatWallet and MoneySavingExpert. Brands can empower staff to respond as individuals for the company.
Fortunately, our friends at Brandwatch have a report and in-depth analysis to help guide you. There are plenty of challenges but there are even more opportunities for your brand. Grab their latest report here — if you work in the financial sector, it should be a must.
Image courtesy Brandwatch.