Since the last decade, with significant revolutions right from demonetization to online banking, Ai-driven trading to the crypto-verse, the finance industry has offered its newest inventions while gravitating towards being where the audience is. Gone are the days when BFSI companies looked boring from the outside and dulled from within. Today, every financial institution is taking part in the race to be relatable by serving their offerings on a well-presented platter for their newer, younger, and dynamic diaspora to relish.
Moving forward with such evolution is challenging. With tedious data and complex products to be represented creatively and in chewable bits, BFSI companies have decoded a trick to talk the talk and walk the walk of their audience.
Studies suggest that even after years of investing and banking experience, an outsider can get intimidated by the ever-changing weather of the economic world, and only an expert in the field can figure out mind-numbing data, facts, and graphs. Clean and contextual communication can reduce this gap between a simpleton investor and an industry expert.
Here are some of the catalysts facilitating the growth of creative wings while writing for a BFSI brand.
Personality That Speaks:
To make sure your brand gets heard and seen, it needs to have a personality just like any non-BFSI brand on earth. Creative communication stems from the tonality of the brand, and it’s essential that we hit the right spot with the audience while communicating in their language.
Ideation Stage is the Base:
The treatment of writing for finance brands needs to be distinctive. Every ad reaching its specified set of audiences needs to be designed and communicated differently and with a target-audience-specific approach. It’s all in the ideation stage. That’s a real deal-breaker for the campaign in the later stages.
Infotain Them:
The dynamic evolution of the BFSI industry has resulted in various innovations, be it communication design, building user-friendly interfaces, or developments of one-tap services to form a simplified customer journey. Once the complexity of technical information is broken down into appetizing morsels, you just need to then add a pinch of creative twist.
Brevity is The Boss:
What ignites the interest of a customer in choosing your home loan or insurance plan when they have 10,000 emails from different brands sitting in their spam folders already? The essence of creating an excellent email communication strategy lies in the age-old formula of Keeping It Short and Simple for the customers to comprehend, react and connect to you about your offerings. Also, the Call To Action should be well-defined for the customers to have a clear understanding of what action you want them to take and where it will lead them and not just lead them on… IYKWIM *wink* (See, BFSI is cooler than you think!)
What’s The Diff?
Every financial product and its subproduct caters to a specific human need or a financial goal. Bucketing the audience based on their transactional, demographic, and psychographic data available can make an enormous difference. For instance, an emailer addressing a young investor/account holder will sound drastically different from an email sent to a tenured client. Automated emailers at every activity of the user’s journey with personalized and creative copy with head-turner designs go a long way. And yes, it goes without saying that the story begins with the subject line of an emailer itself. How often would you find an email from a bank saying, “Excuse me, Chinmayee, your money has just…”?
An intriguing subject line, headline, and structural representation – is where 40% of the heart of email marketing for financial brands lies.
Jazz Up With Quirk:
Picking your moments to shine > Hopping on every other social media trend.
The recipe for perfect communication for the BFSI sector lies in understanding that it’s addressing a human and not a machine. Though the terminologies and jargon would sound too clinical and important at times, the communication must be as humane as possible. Sieve all the complexities, mix it up with words and phrases that are more colloquial, sprinkle it with some quirk here and there, and Voila! Your recipe for perfect communication is ready!
Those were just a few fundamental elements that will make you realize that the ‘B’ in BFSI does not stand for boring. There’s still hope and definitely a lot of scopes to make communication more effective for any banking, financial services, and insurance brand. Go ahead, cash in some brand impact!
The authored article is written by Ms. Gauri Raorane and shared with Prittle Prattle News exclusively.
