Five common digital marketing problems for the finance sector - and how to overcome them

"When it comes to digital marketing for the finance sector, it's a competitive world out there. You're competing with everything from high street banks to aggregators such as MoneySupermarket. On top of that, you have the red tape around compliance and transparency, meaning there are restrictions and limitations to the kind of content you can put out there. Run2 works on behalf of a number of finance clients, so we asked our digital marketing team about the most common obstacles they face."

"When creating content for the finance sector, compliance and transparency are crucial. Small print will always be necessary and you've got to balance regulations with creative and intriguing copy. It can be difficult to create eye-catching and creative content which is also compliant, which is maybe why Revolut app recently missed the mark with their Spotify spoof ads. Inspired by Spotify's data-driven creative, the campaign certainly garnered a lot of attention after making claims about user habits on the app."

Digital marketing in the finance sector faces intense competition from banks and aggregators while operating under strict compliance and transparency requirements. Regulations impose limitations on what claims and creative content can be published. Fabricated or misleading claims can prompt regulatory referral, as occurred when Revolut's spoof ads used fake user spending data. Close collaboration with clients from the start helps ensure all team members understand compliance constraints and acceptable claims. Providing clients with sight of all content before publication is common practice. Consumer trust remains low after the recession, driving demand for genuine, honest financial advice in marketing.

Read at The Drum