S019 - Financial Services Marketing

Financial advertising serves areas of lending, insurance, sale of shares and retirement savings. The more unstable the economic situation is, the lower the level of public confidence in financial institutions. Advertising is required in order to improve the reputation of financial institutions, increase investment appeal and correct liquidity shortages for banks.

Any crisis will change the mindset towards advertising of financial services due to the main task of their promotion being active search and attraction of clients.

Financial advertising is in demand for:

• banks
• private medical insurance organizations
• construction companies using the funds of investors
• insurance services
• investment funds
• post offices providing banking services
• brokers, financial consultants dealing with investment, insurance, subsidies
• companies working with credit cards
• short-term loans

Types of financial services:

1. Intangible: The buyer, up to the time of the service purchase, cannot assess whether it will benefit him. In order to somehow materialize the service, advertising has to resort to a series of images that are understandable to any person. Advertising images should reflect the essence of the advertising proposal so that the potential client understands what is at stake.
2. Intelligent: The intelligence of the financial service provider is the primary vehicle for persuasion. The reliable image of the service provider is transferred by the consumer to the final product. People only want services from financial professionals.
3. Individual: Financial services offer a personalized approach to the pain of every client. A number of services are provided on a long-term basis with the possibility of renewal, so it is important for consumers to feel a special attitude, to feel like a valued and significant individual.

Advertising for financial services and financial activities is subject to local regulations and it is vital that marketers providing such services are aware of the requirements. M&C employs professional lawyers who ensure compliance with all regulations and requirements.