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Financial Services Agencies

  • Posted In: Financial News


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    Seeking Clients
    Agencies seeking Financial Advisors and financial services firms as clients must have a special marketing agenda to garner their attention. They may be good agencies at general advertising and public relations campaigns; however, the needs of the financial industry (including brokers, banks, and investment advisors) are unique and require research in the appropriate target markets, current topics of immediate interest, and proven strategies for conveying relevant messages and calls to action.
    Show Your Track Record
    A top financial services agency will have a track record of superior work for clients, evidenced by a display of industry awards and acknowledgements. It will have a list of satisfied clients who will give testimonials to prospective businesses. It will have a portfolio of work performed in various media (radio, TV, etc.), online, and with social media. These “success stories” must be visible to attract new clients. In addition, they should never underestimate word-of-mouth in spreading the word on their accomplishments.
    Execute Great Work
    It goes without saying that financial services clients expect good work from the luxury advertising companies. They expect a well-organized machine to run their campaigns. They expect leadership in their assigned team – a “go to” person who handles everything from the initial proposal to the final execution and “media buys.” The heart of the team is the creative director whose plan must be tailored to suit the financial client, the approved budget, and the overall goals and objectives underlying the campaign.
    The team must be flexible enough to adapt to a client’s concerns but strong enough to suggest improvements and budget increases when and where needed. In sum, the financial services agency is the expert and not a follower or order-taker. It must be one step ahead of the client in understanding trends that affect decision-making. On-going self-examination is essential for such agencies to take stock of their work to date, to evaluate feedback from existing clients, and to apply suggestions for improvement to future customers.
    For example, banks have conservative images and balk at approaches that seem frivolous and overly-humorous. Financial Advisors perpetually seek an image of trust and competence. Investment firms combat criticism of impersonal service and excessive transaction fees. Whatever the problem, the agency must find the solution in a new, fresh message – but one that is in keeping with the best possible image for the client.
    Brain-Storming for Success
    Creative brain-storming is often a helpful tactic for a financial services agency. Each team should consider what is out there in the media and on-line for the industry, critiquing the ads, articles, blogs, etc. carefully. What should be used, what should be discarded? They should then look at client proposals with brutal honesty, trying to anticipate reactions both positive and negative. In other words, the agency must undergo self-criticism to facing constructive feedback internally before countering it externally.
    Following this process will yield better campaigns for the financial services client who wants a finished product presented with conviction. Through self-analysis, the agency can sort the wheat from the chaff during brain-storming sessions to come up with more compelling, exciting and fruitful advertising campaigns. Clients want memorable, effective, targeted campaigns. They want to know the agency understands and cares about the outcome. If the agency can come through in these key areas, they will enjoy an abundance of new business.

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