Researchers estimate that between television, radio, the internet, email, and social media, the average person receives the equivalent of 174 newspapers worth of data every day. That means consumers have a lot to sort through and choose from when shopping for virtually any type of product or service. The demand for more transparency from companies to help them make an informed decision is growing exponentially.
Here are five ways that being transparent in financial digital marketing that can win over customers:
1. Builds Trust
“Consumers deserve more than someone playing games with you and withholding information,” Tony Walker says, whose a prominent Retirement Planning Specialist in the greater Kentucyky area. He turned to REIN for a new website & digital presence, seminar advertising, lead generation and marketing automation for his financial advisor businesses. “The consumer expects and is entitled to know exactly what they’re signing up for. We build such good rapport with our seminar attendees before the event occurs because of the way we are featured on the advertisement, event landing page, and holistically as a brand There’s a lot of ‘gotcha marketing’ going on in the world today, and no one likes to feel like they got fooled.”
2. Develops Loyalty
Surveys show that the vast majority of consumers will be loyal to a brand that practices transparency. Brands now have the enhanced opportunity to show their personalities and values due to the internet and social media. So consumers expect to know more about companies than ever before, and if you give them transparency, they’re willing to pay extra for it.
3. Shows Authenticity
To do digital marketing right, companies need to take a deep dive into who they are, where they’ve been — warts and all — and show a vulnerability that potential customers can relate to. People can see themselves in what you truthfully present. The whole objective is to create a human interaction, and being authentic in this way is one of the most powerful things you can do.
4. Pairs Great Offer With Great Value.
Regardless of what you’re selling, there is some ulterior factor we’re using as an advertising carrot. An example would be a time-share presentation; get a free cruise if you sit down and listen to them talk about some product they’re trying to sell you. But the carrot blinds you from the actual intent of the event. In order to be transparent and build good trust, the offer has to be paired with value.
5. Increases Efficiency (our fav)
Becoming more transparent through digital marketing can greatly improve a business’ efficiency by spending less time talking around product limitations and sidestepping customers’ concerns. By not embellishing your results, you save time for more productive work.