The Motley Fool Discussion Boards

Previous Page



Subject:  How to market small business in financial sector Date:  9/6/2019  6:30 AM
Author:  brandonmotley Number:  230 of 533

How to market your small business in the financial sector?

If your business operates in the financial sector, it is crucial to have a unique marketing strategy. This is because unlike other service businesses, people are extremely cautious about money as you would imagine. Therefore, you must build trust with your audience if you want to convert them into actual customers. But how would one go about it?

Seek trusted individuals to endorse your business
There is nothing more effective at building trust than endorsements, and it is why all companies hire celebrities and other public figures to advertise their products. You too should identify those individuals people look up to and get them to champion your company in one way or another.
This doesn't necessarily mean paying them for their vote of confidence or that they have to be famous. By simply getting a trusted face to help you market your business, you have already built trust. Nowadays it is even easier to get these endorsements because it can all be done online with just a few clicks and taps.

Make every vote count
Word of mouth is extremely important toward marketing any business. It is especially effective for small businesses because you may not have a huge marketing budget. Nevertheless, studies have shown conclusively that people instinctively trust the word of their friend or family member far more than any advertisement.

The trick is to find a way for your current customers to become inadvertent marketers and there are several ways to do this. One such subtle way may include branding products and giving them away as gifts. That way, everyone they encounter will be interested to find out more about your company. It is also incredibly inexpensive to do this while being very effective.

Accept feedback… and act on it
Contrary to what business people may say, most of them do not want to receive criticism unless it’s positive. That is a completely wrong way of thinking about business as it shuts you off from making improvements. The truth is that people really like to be heard and to know that their opinion was at least considered.
Remember that you can make someone a lifetime customer just by being attentive but do the opposite and that person will never come back. So, provide a platform for your customers to provide their feedback and don’t forget to act on it because you still have to walk the talk.

How can you get all these right?
Most things are easier said than done, but you can still achieve your business goals with the right approach. In fact, you can get all the above as a package deal with the help of Business Globe Awards (BGA). BGA provides digital marketing for small and midsize businesses based on a comprehensive evaluation of a company’s history, services, and customer feedback. A company can nominate itself or be nominated by anyone, perhaps a customer, after which their Tier 1 support conducts thorough research of the company and if everything is verified properly, it is passed onto the vote of their in-house 5 panelists.

Achieving a title by Business Globe Awards gives your business all of the above-mentioned marketing strategies rolled into one, and can help your business grow exponentially. For a financial services business, this would be extremely valuable in creating trust, market dominance and giving the extra “push” for your customers to retain your services as opposed to your competitors. You can apply now under the following link:
Copyright 1996-2021 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us