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The Importance of Personalization in Digital Marketing: Tips and Strategies to Implement

Importance of Personalization

Personalization is everything in digital marketing. In a competitive digital environment with thousands of similar companies and startups competing for the same market share and target audience, standing out is crucial to succeed, especially in the fintech space. Without personalization, one’s fintech company can fall into irrelevancy and the pits of Google’s website rankings.

So how does one personalize their fintech brand through digital marketing?

To begin, one must analyze the meaning of personalization and the process of knowing the needs, wants, preferences, and interests of current and prospective customers. This is important as it allows a fintech to understand its demographic and figure out how best to serve them properly. When this task is completed the right way, a fintech brand can engage with its customers better through more relevant communication, offer more exceptional customer service experiences, boost loyalty retention, and increase sales and profits.

Personalization is all about crafting a personal story for one’s fintech. By positioning one’s company as different from the rest, it solidifies itself as a market leader and innovator and makes itself seem much more relatable and relevant to the consumer. In this digital age, it’s simpler than ever before for a fintech to reach potential customers through online channels and mediums. Social media has made it so that personalized marketing content can be viewed through a device in the palm of the consumer’s hand. However, with the noise and competition produced by similar competitors, it can be difficult to make an impact and stand out from the rest of the crowd, especially in an industry as competitive as fintech. That’s where personalized marketing comes in. By tailoring one’s marketing efforts to the specific needs and interests of individual consumers and not the demographic as a whole, a fintech can create more meaningful and engaging marketing and customer experiences that drive sales and build brand loyalty.

Utilizing the following personalized marketing strategies can help create that personalized company image for one’s fintech in order to achieve those coveted positive results.

Leveraging Data to Guide One’s Strategy

Personalization cannot happen without the study of customer data. In today’s digital media age, data is taken in every day by digital companies, from a user’s search history to their purchasing habits. In the case of fintech, financial data can be taken from the user in certain cases. This data, no matter the type, can be extremely valuable and have a massive impact on a fintech in understanding their target audience to then ideally create personalized marketing content for them. This personalized content will be more effective than general marketing content put out by the company as this type of ad would be created for the specific user themselves. This content would appeal more to each individual user and their wants, needs, and preferences.

Create Detailed Customer Profiles

Customer profiles provide factual information and data about the demographics of a user and their buying behaviors. The profile describes everything you need to know about a specific group of customers and individuals.  Using this data is an important part of creating personalized ad campaigns because customer profiles provide the information you need to create a digital strategy that aligns with the wants and needs of one’s audience. Ultimately, understanding your consumer will also play into understanding how best to serve them and do business with them.

To build customer profiles, one must start by identifying who one’s target audience is broadly and then narrow that audience down into a customer profile that aligns with one’s fintech product or offer. One can do this by analyzing the customer’s journey and considering their demographics, such as their age, income level, occupation,  family size, education level, and marital status.

When one understands who their ideal customers are, including what online media channels they like to use, one can clearly identify what digital ads will perform best in reaching those customer profiles. A company wants to display marketing content that its potential users would actually see, not in a place where it will go unnoticed and wasted. This way, one will not only create campaigns that appeal to their ideal customers but will also ensure those campaigns reach their designed audience too.

Develop Creatives That Speak to One’s Ideal Audience

Fintech creative assets are an opportunity for a company to speak to its audience in a way that is relatable, educational, and captures their full attention. It is a great tool for connecting with one’s audience and building that trust.

The key to developing this level of personalized ad content is to understand one’s audience. Knowing who one’s target audience is and what appeals to them is vital. Looking through previous campaign data to see what resonated with this audience in the past is also important. From there, the next step would be to review current campaign objectives and brainstorm campaign messages that align with the wants and needs of the target audience. Ensuring the ad’s message is clear and engaging is crucial to catch the eye of the potential consumer.

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