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Why Financial Brands Should Invest in Paid Advertising

By June 12, 20203 min read

Digital marketing is the key to reaching new customers. From social accounts to search results, if your brand can’t be found online, it’s harder to grow and expand your business. Organic content is only one way to reach new segments of your target audience. If you want to increase your sales and grow your brand faster, paid online promotions can drive results quickly.

Paid digital advertising offers brands more effective options to reach their target customers. Coordination with scheduling calendars and regular organic content could be the final key to establishing thought leadership and growing sales.

Why Invest in Paid Advertising?

Your customers are online and you know that you need to reach them; while you’re likely investing in organic marketing tactics, many financial brands find that a mix of organic and paid is most effective. With the targeting options available with paid advertising, you could expand your following, open new accounts, generate new leads, etc. all by allocating some of your marketing dollars to digital.

  • Instant Metrics: See how your ads are performing so you can make any needed changes.
  • Audience Insights: While you don’t know who is engaging with you, you can learn a lot about them — their city, what device they’re using, are they viewing on a desktop or mobile, etc.
  • Directly Target Competitor Names: With Google advertising, you can directly target your competitors – meaning you can pay to show up when your audience searches for them

Pro Tip:

If you haven’t already, make sure digital advertising is a part of your 2021 budget.

What Makes it Work?

Paid advertising also gives you deeper insights into how your followers are interacting with your content.

  • What topics grab their attention?
  • What language makes them require more information from you?
  • When should you time your posts helps improve your return?

Metrics like cost per acquisition (how much it costs to convert a prospect into a customer) and return on advertising spend (which shows the value you receive from a specific source of advertising as opposed to your overall efforts) are valuable insights that traditional media can’t provide to your financial brand. Paid advertising better delivers your message and equips you with the insights you need to improve your marketing effectiveness.

Pro Tip:

Make sure you are familiar with the new sets of metrics paid online promotions provide. For a handy reference, review our five terms every bank marketing manager needs to know resource.

How to Get Started

When your financial brand gets started with digital advertising, a good rule is to start slow. Build off of your organic efforts – if you already share a lot of content on Facebook, try running social media ads to showcase your page and content to more customers. On the other hand, if you want more exposure on search results, place Google Search or Display Ads to drive traffic toward your website. Don’t be afraid to make mistakes and learn new things about your unique audience. With time and practice, you will start to see a return on your investment.

Pro Tip:

Course corrects slowly when you first start. Allow campaigns to run their course to receive the most reliable metrics. Once you have a few data sets, try to spot a trend in the data and go from there.

Do you need help getting started? This week, Social Assurance announced their new paid advertising tool! Our tool allows financial brands to input their information and we’ll handle your paid advertising. We’re currently providing demos. Want a sneak peek? Reach out to us below.