DAC joined over 400 digital marketers and financial leaders at DMFS-NYC December 9 – 10, where DAC, VP of Client Strategy, Nasser Sahlool led the Social and Content Track. Erica Hahn, was also in attendance at the event and shared her top takeaways below.
Marketing must be personal!
The importance of creating a personalized experience for consumers was echoed throughout the conference. From personalized tweets to offers and promotions, speakers from Morgan Stanley, Citi, Hootsuite, Regions Bank, and Curian Capital all spoke on this topic noting that 69% of people are willing to share data for a more personalized experience.
Bryan VanDyke, Head of Digital Strategy for Morgan Stanley, started off Day 2 of the conference with a powerful thought, “Digital Transformation = Change Management”. It’s impossible to be a “digital” expert. You need to be able to adapt to change. Building relationships and being comfortable exploring new technologies is how to succeed with digital transformation.
It’s all about your people.
Building on the last takeaway, the most important business investment is your people. Morgan Stanley utilizes unsung digital experts found throughout various departments in their organization and has a monthly Digital Planning Forum. In this forum, people throughout the company can help influence their next steps in digital. Lincoln Financial also employs a similar mindset; holding employee contests and using the winners creative in their advertisements.
Just because it’s financial services doesn’t mean your marketing has to be boring. According to a study mentioned by Bryan Vandyke, going to see your financial advisor was 2nd behind going to the dentist! Sun Life Financial created a unique way to educate and engage their consumers: Gamification. By creating a game, they were able to teach consumers about retirement savings and encourage increased participation in the program.
Stop using compliance and regulations as an excuse!
Everyone at the conference agreed, the Financial Industry was way behind in digital marketing but, that it’s time to stop blaming compliance and regulations. In a regulated industry it’s important to make compliance and legal a part of your digital and social media teams so you have approval from the beginning of a campaign. Companies like Hootsuite, have also created tools to make compliance an easier feat. Regions Bank wasn’t in the digital space at all three years ago and now they have a presence across 12 social media platforms and a team of contact reps that respond to all comments (positive or negative) within 30 minutes.
What is your company (or, financial service provider) doing keep relevant and stay connected in digital?
Contact DAC today to find out more!