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Financial services marketing: overview & industry trends
Financial services marketing has evolved. In order to stay cutting-edge in a rapidly changing advertising environment, financial brands are increasingly embracing digital mediums to promote their products and services. Today, effective digital marketing strategies involve a diverse media mix, often including streaming music and podcasts as a way to meet audiences in meaningful moments throughout their day.
Read on to get the lowdown on trends in financial marketing, and find out how Spotify can help you reach your priority audiences.
of next-gen Financial Services Purchasers stream music every day¹...more than those who stream video, play video games, or watch live TV
of Financial Service Intenders stream music every day¹
Reaching your audience in finance
In order to develop an effective marketing approach for your brand, it’s essential that you’re equipped with the most insightful data about your audience. Actionable data insights can inform brand strategy and make marketing tactics more efficient and effective. Many financial providers are sitting on a mountain of data about their customers—and yet it can often go underutilized in marketing strategies.
Spotify is harnessing more of its own first-party data to help financial brands deepen their audience understanding, improve targeting, and inform creative. For example, we’ve analyzed the music and podcast preferences of financial listeners on Spotify, building a comprehensive understanding of this segment’s listening habits.
Learn more about audience targeting.
Customer spotlight: NatWest
Digital finance ads: measuring performance
Financial Services marketers are tasked with building trust in consumers, especially as the industry shifts away from product-focused messages and towards advisory and relationship-based services. Trustworthiness, credibility, and reliability are important attributes brands strive to earn through advertising—and brand messaging on Spotify increases trust among listeners. Specifically, one in three Financial Services campaigns drove a directional lift in trust agreement.²
Alongside trust, another vital performance indicator is ad effectiveness. The success of an advertising campaign lies in its ability to drive business outcomes. Financial services advertising on Spotify can drive performance across the funnel, delivering increases in ad recall, brand awareness, message association, and intent.
- Spotify Culture Next Survey, Global Data, April 2022
- Nielsen Brand Effect & Kantar Brand Lift Insights, Financial Services Only Q2 2021 - Q3 2022; reported at 80% confidence level (n=36).
Financial services marketing FAQs
There are many different ways a financial marketing strategy might take shape, but typical examples of financial marketing include:
- Advertising during podcasts that discuss economics or investment strategies
- Traditional commercials aired on TV or via streaming content relevant to financial audiences