Banking on Advertising: It’s a Matter of Trust
Sandeep Balani, Head of India, Outbrain, makes a strong case for native advertising and how brands need to leverage environments that inspire consumer trust and engage the most qualified audiences is at the center of it all.
Make no mistake, trust is key for marketers of financial products and services. While online advertising spend in the finance industry today is as healthy as ever, marketers still deal with consumer skepticism when it comes to financial decision-making. For brands to succeed and grow, leveraging environments that inspire consumer trust and engage the most qualified audiences is at the center of it all.
The Power of Trust
This is why finance and banking related businesses have predominantly turned to Native as part of their marketing strategy. Native has proven it’s more trustworthy, with 44% of consumers saying that they trust ads on premium publisher sites over ads seen on social media. For the majority of consumers, there’s just an inherent confidence when seeing an ad for a credit card on BBC versus on Facebook, for example.
It comes down to being in a brand-safe environment, as 75 per cent of consumers believe that brands should be held accountable for the content that appears beside their advertising. Promoting relevant content on a respected publisher site brings value by its placement alone, establishing a sense of brand credibility for the consumer. Simply put, creating trust in your advertising is the most important element for financial institutions, as customers won’t risk their hard earned money with companies they do not trust.
Engage with a Qualified Audience
At its core, Native is intended to educate and engage consumers, just as much as it is to promote a brand. Unlike a standard banner ad that’s shown to everyone – even to those who it has absolutely no relevance – with Native, a marketer only pays when it counts. Native ad placements do not intrude on a consumer’s digital journey; therefore, allowing a consumer to decide if and when they engage. Native is then able to engage with a qualified audience – and redirect these consumers to relevant articles, landing pages, and other resources to educate them, establishing another level of comfort with the institution before they commit.
Native Discovery platforms like Outbrain take it a step further to capitalise on qualified audiences. Companies looking to build a loyal customer base can rely on advanced targeting technology to foster meaningful and positive interactions by reaching audiences according to their interests. Being able to leverage data allows advertisers to better target, retarget, and reach people at all stages of the marketing funnel, thereby providing a seamless and personalised experience to those with genuine interest rather than to, for example, a 16-year old student. It should, therefore, come as no surprise that Discovery drives 188% higher pageviews per session than Search for finance content.
Take Leads to the Bank
Due to the nature of financial solutions, it makes perfect sense that Native Advertising has been a key marketing platform for this industry. In fact, finance is currently the third-leading industry leveraging Native.
The digital advertising landscape continues to revolve around the currency of trust, especially as consumers increasingly look to digital channels to research, discover, and learn more about products. It has also redefined the way marketers can prove their credibility when connecting with their audiences. This gives marketers a powerful opportunity to leverage digital channels and prove their credibility in having their customers’ best interest at heart.