Secret Memo: Financial Industry Your Marketing Strategy is Busted
The financial industry just does not get that the same old stale marketing strategy they use are tired. They just won’t read the writing on the wall; they continue to ignore social media and other kinds of new media marketing strategies. The common go-to reason to resist: “It’s against the Regulations.”
Yet, they want us to invest in companies that are innovative and take risks, all while they are unwilling or too scared to do so themselves.
Instead of being the trendsetters, financial investment firms stick with boring marketing approaches, and dust off cold calling playbooks.
Here is a message memo that hit my desk: (identities changed to protect the outdated)
January 30th 2:05 PM
Details: Hello, I am with ABC Financial. I am calling
to introduce myself. Please have Bill call me. Caller: Tom Agent
Warning: A direct sales approach is coming and they’ll most likely want to hammer us to get our address to send us “information”! Still, the financial industry wants us to believe Tom is really calling to introduce himself.
Firms are investing millions of dollars and man hours in this low success rate marketing strategy. Why?
Imagine if they became the visionaries and invested that time and money in new marketing strategies. They resist due to the fear of “regulations”, instead of finding marketing success.
Or, are they all waiting for one innovative company who figures out how to knock social media out of the park! Paving a safe pathway so, the rest of the financial world can follow?
How the financial industry can win with social media:
- Become the Obvious Expert
- Become a connector (help others get what they want)
- Get testimonials
- Be a person others want to follow and connect with
- Only work for the most respected firms
- Friend someone else who knocks social media out of the park and have them talk about you
- Quit and work for a company that is embracing social media
- Use one of your hobbies to gain social media reach