Taking Interest to the Bank: Finance Brand Advertising

Comedian Bob Hope once said, “A bank is a place that will lend you money if you can prove that you don’t need it.” Although delivered jokingly, his words underline one of the most significant challenges facing banks and financial brands: gaining and maintaining trust. To overcome this challenge, a robust advertising strategy is essential. In times of economic uncertainty, brands that extend a guiding hand tend to be the most trusted. This holds particularly true in the financial sector, where trust often entails security. But what constitutes the most effective approach to developing a winning advertising strategy?

The Importance of Advertising for Finance Brands

In business, brands are a promise; in finance, institutions promise to take on the responsibility for looking after the customer’s funds and financial welfare. Whether your company specializes in insurance, banking, cryptocurrency, or any other financial service, every relationship between brand and customer is built on one thing: trust. 

Building trust relies on meaningful experiences and interactions. That’s where advertising becomes important for financial brands, in order to make those connections. However, these days, brands aren’t just competing against each other, but also those in tech like Revolut, Stripe, and Square. 

It means that for finance brands, advertising is not merely an option but a necessity. The statistics underline its importance, with two major challenges looming: 1) reaching the right audience, 2) acquiring new customers. The problem? Traditional advertising channels like TV, newspapers, or radio often fall short in addressing these challenges, leaving one clear alternative. 

The Power of Open Web Advertising

Statistics from Global Web Index reveal that 34.5% of audiences are more likely to encounter new brands on the open web compared to the 33.4% on social media platforms. A pivotal factor driving this shift is the growing trust placed in content found within editorial environments. Research indicates that an increasing number of people rely on content seen in editorial contexts over user-generated content on social media platforms. Remarkably, this trust extends seamlessly to advertising as well – 68% of consumers trust ads encountered in editorial environments, highlighting a significant leap from the 55% trust rate associated with ads on social media.

The Perfect Time for Online Advertising

In Q4 2022, financial click-through rates surged by 23%, as per Outbrain platform data. With various financial events unfolding during this period, finance brands have a golden opportunity to enhance their online advertising strategies. Here’s how:

• Tax Season: Promote tax planning services and resources for maximizing deductions.
• Holiday Shopping: Introduce holiday-themed credit cards with cashback and discounts.
• Year-End Financial Planning: Offer end-of-year financial check-ups and retirement planning.
• Budget Preparations: Help businesses create budget plans and offer financial literacy workshops.
• New Year’s Financial Resolutions: Encourage goal-setting with investment and retirement planning services.

By strategically aligning advertising with these events, finance brands can tap into a unique opportunity to deliver hyper-relevant content, thereby maximizing their impact and results. This relevance translates into tangible outcomes – increased leads, higher conversions, and enhanced brand loyalty. 

Unlocking Opportunities on the Open Web

Trust is a currency that yields results. Berlin-based insurance start-up, dentolo, saw a CPL reduction of -33% vs. social ads and -39% vs. paid search, while generating 4,000 monthly leads.

Fidelity, an investment solutions and retirement brand, trusted Outbrain as a strategic marketing partner to engage and convert retirement-age customers. The result was over 900 leads from an eBook campaign, with 49% of users staying on site for 30+ seconds, showcasing strong engagement and interest.

It is evident that advertising online is essential for finance brands in our rapidly evolving digital landscape, and with various financial events on the horizon, platforms like Outbrain can help finance brands connect with the right audiences effectively, delivering results that matter.