Tap into your customers' evolving relationships with technology and the financial services industry and seize new opportunities to strengthen your financial services digital strategy
Globally, the financial sector is facing significant challenges as new online services are created and improved. As consumers' demands and expectations continue to increase, marketers and managers must adapt their financial services digital strategy to stay ahead of the competition.
In this blog, we explore the latest innovations in the finance sector and how they apply to both business- and consumer-facing markets, ranging from established financial services brands and new fintech startups to IFA intermediary markets. And, more importantly, what you can do about it.
Opportunity, Strategy, and Action for financial services
Our simple OSA model helps marketers, managers, and business owners identify challenges and opportunities in their current situation, inform their strategy, and take action. As we discuss the latest developments, it can be useful to refer back to…
Learn how SMEs can use Porter’s 5 Forces to assess marketplace viability when planning
Right now, Porter's 5 Forces is the most useful tool for owners and managers to stay one step ahead of the competition in a challenging market. The Porter's 5 Forces model has always been popular with SMEs in particular, looking to invest for growth and manage risk to their limited resources.
Earmarked as the best marketing model to help small businesses analyze the competition in the marketplace, balancing these 5 forces is a must for your 2021 marketing action plan.
What are Porter’s 5 Forces?
Porter’s 5 Forces is an analytical model that helps marketers and business managers look at the ‘balance of power’ in a market between different organizations on a global level, and to analyze the attractiveness and potential profitability of an industry sector.
Threat of substitute products
Bargaining power of buyers
The Ansoff Model is a matrix that helps marketing leaders identify business growth opportunities for their marketing strategies in a challenging market
What is the Ansoff Model?
Also referred to as the Ansoff matrix, due to its grid format, the Ansoff Model helps marketers identify opportunities to grow revenue for a business through developing new products and services or "tapping into" new markets. So it's sometimes known as the ‘Product-Market Matrix’ instead of the ‘Ansoff Matrix’.
The Ansoff Model's focus on growth means that it's one of the most widely used marketing models. It is used to evaluate opportunities for companies to increase their sales through showing alternative combinations for new markets (i.e. customer segments and geographical locations) against products and services offering four strategies as shown.
How to use the Ansoff Matrix
Strategic questions that can be answered using the matrix include:
Amazon marketing strategy: Business case study, revenue model and culture of customer metrics: History of Amazon.com and marketing objectives
In the first quarter of 2021, Amazon reported net sales of $108.518 billion, a 43.8% increase from $75.452 billion in the same quarter in 2020. Net service sales, which include Amazon’s fulfillment services for sellers on its marketplaces, hit $51.027 billion, up 51.8% from the prior year’s $33.611 billion. The Amazon marketing strategy we are familiar with today has evolved since it was founded in 1994.
I've highlighted the Amazon marketing strategy case study in my books for nearly 20 years now since I think all types of businesses can learn from their digital business strategy, their response to the pandemic is impressive but not entirely surprising for a brand which is 'customer obsessed'.
From startups and small…
Branding means fully integrating your customers' experiences of your brand. We'll recommend marketing tools and training to show you how, as well as taking an in-depth look into the definition of branding
What's the definition of branding? Across numerous terms and definitions, one thing that rings true for pretty much all of them is a heightened focus on your customers' experiences of your branded goods or services, compared to your competitors. But what is meant by brand definition today? And what can brand marketers learn from this?
We've all seen that, to succeed in today's competitive omnichannel environment, it's more important than ever that brands champion their key customers (both potential buyers and those with existing lifetime value) in all of their marketing activities. You need a data-driven, customer-focused approach to marketing to outpace your competitors.
As a result, we guarantee that all our marketing training is integrated across our tried and tested…
Optimize your marketing campaign analysis with our marketing tools and training. Grow your business and professional marketing skills today
The process of setting up, brainstorming, planning, and ultimately delivering digital marketing campaigns is an exhausting, challenging yet fun, and extremely rewarding process. Once the campaign goes live, you can witness the fruits of your labor. However, all digital marketing campaigns must at some point come to an end and there is always one final step in the process: campaign analysis.
Every company, brand, or agency will approach the end of a campaign differently, with some going into detail and others taking a much broader view. However whilst digital campaigns can be quite simple and straightforward, perhaps with maybe just one or two channels, others may be more complex and multifaceted.
I, therefore, believe it’s always best to err on the side of detail so that you can get a true picture of how…
A content marketing planning tool to help marketers generate ideas for the most engaging content types for their audiences
We created our Content Marketing Matrix to help our members audit their content marketing assets as part of creating a content marketing strategy. It can also be used for content ideation, i.e. to brainstorm future content ideas to generate leads, nurture prospects, encourage sharing and generate backlinks for SEO.
Since we created it eight years ago it's been shared many times and has inspired many 'mashups' in different formats as this Google search shows; great to see it's been useful!
I think the CMM is a powerful mindtool for marketers since it's a content mapping tool, structured to help you think through two key dimensions of which types of content will best support the path to purchase for your target audience. The two dimensions are:
How do you summarise a business model canvas or marketing plan for online startups using a single sheet of A4? Our top business model frameworks for you
Defining a clear online business model framework is essential for a new startup online business to help create a sustainable business and communicate the features of their new business to partners and within the company.
Reviewing business models is also important for existing businesses thinking about options to refine their business model or add new services to their offerings in the light of new opportunities made possible by the Internet.
As you know, I'm a big fan of simple frameworks to help communicate strategy. In particular, I love the Business Model Canvas which is a valuable framework for summarizing strategy for online businesses. It was published as part of a co-creation creative commons project involving 470 practitioners from 45 countries.
We feature it as part of our…
Q2 2021 smartphone analytics: consumer mobile usage and adoption. Use our mobile marketing statistics compilation to inform your digital marketing strategy and mobile user experience
"Mobile to overtake fixed Internet access by 2014" was the huge headline summarizing this bold 2008 mobile marketing prediction by Mary Meeker, an analyst at Kleiner Perkins Caufield Byers reviewing technology trends. That same year, Eric Schmidt of Google exhorted businesses to take a 'Mobile First' approach to designing web experiences, informed by customer-focused smartphone analytics. Our mobile marketing statistics compilation contains all the marketing research you need to make the right decision in 2021.
13 years later, with usage shooting up amongst all demographics, mobile marketing statistics are more vital digital markers engaging their audience than ever before. Now, more than half of all web traffic is mobile.
Interestingly, this trend is set…
Our recommendations on the top 10 free digital marketing statistics covering secondary data sources for Global, European, UK, US, Asia and Latin America
Online marketers love statistics about digital marketing. Us too. They allow us to review the growth in customer adoption of the latest digital platforms and technologies, make the business case for investment in marketing and allow us to benchmark our growth and performance against competitors.
From reviewing thousands of stats sources over the years, we've found that there are a very small number of quality online marketing statistics sites and sources which are updated at least annually and have a representative sample size from different countries.
Business Members can use our quarterly 2020 online marketing statistics compilation, aimed at saving you time when you need the latest stats for a presentation or report you're working on against a deadline. This guide contains a full rundown of…