The pandemic caused shockwaves around the world, and many firms are still struggling to recover. The Indian advertising business, like any other, has had ups and downs during the last two years.
With a little forethought, the industry can quickly overcome any unexpected problems. The financial services industry (BFSI) is one of the top sectors that has recently boosted its ad spend. During the epidemic, customers were faced with financial hardships, necessitating the need for financial assistance.
BFSI firms have moved up with financial literacy programs to help individuals learn about various investment alternatives.
New technologies for client acquisition: The BFSI sector now has access to cutting-edge technology that allows it to anticipate changes and deploy resources accordingly.
BFSI organizations should prepare to hold audience attention and establish brand loyalty with marketing that targets the pain points and issues they may face during a crisis like COVID, thanks to the individualized services and interactions now feasible with digital platforms.
People have lost their aversion to digital transactions: Contactless payments have become the norm, and those who formerly shied away from them have accepted them enthusiastically. Despite rumors of a third wave, BFSI organizations may take advantage of the shift to digital by targeting customers based on their online activities and interests.
The continued digital involvement is a positive sign that BFSI firms may be able to target potential clients with captivating tales and marketing.
A rise in the digital audience: The digitally native demographic that the BFSI sector can readily tap with is Generation Z and millennials. BFSI firms can pique the attention of Gen Z and millennials, allowing them to become more involved in the financial sector.
There’s no need for BFSI firms to be concerned since finance will be one of the most active categories in terms of advertising in 2021.
For customer acquisition, new technologies are available: The BFSI sector now has access to cutting-edge technology that allows it to anticipate changes and deploy resources accordingly.
BFSI organizations should prepare to hold audience attention and establish brand loyalty with marketing that targets the pain points and issues they may face during a crisis like COVID, thanks to the individualized services and interactions now feasible with digital platforms.
While organizations wait to see how the situation plays out, the pandemic’s consequences are expected to be minimal because we have a high vaccination rate and are better equipped to deal with the issue. Companies that plan ahead of time can better deal with unforeseen occurrences.
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