How Financial Firms Can Build Trust Through Marketing

financial firm trust marketing

Trust is important in any industry, but in finance, it’s crucial.

If you put your trust in the wrong food cart vendor, and you’re out the cost of the bottle of Pepto-Bismol you bought on a 3 a.m. CVS run. If you put your trust in the wrong hair stylist, and you’ll probably be wearing a hat for the next four to six weeks.

But if you put your trust in the wrong bank (or accountant, or investment firm), and the consequences can be truly life-altering.

Financial firms live and die on their ability to instill confidence in their clients. It’s not enough to pay lip service to the concept. To succeed in this industry, you need to prove your trustworthiness to your audience.

And one of the best ways to do that is through your marketing. Here’s how.

5 Tips for Building Customer Confidence

Practice Transparency

Very few people feel comfortable handing over access to their finances only to be left in the dark about what happens next. Transparency is key.

How are decisions made on the client’s behalf? What are you doing with the data you collect from them, and how are you keeping it secure? What fees are you charging, and why?

The more information you share with your clients, the more confident they’ll feel in their choice to do business with you.

Market Your People

To build trust in your firm, it’s helpful to show people the faces who control it. Don’t just market your brand — market yourself and your staff alongside it to provide a human element that will make people feel more comfortable.

It’s easy for your clients to distrust the CEO or the senior manager who never step foot outside their respective corner offices. It’s much harder for them to distrust Jack and Lauren, the smiling faces making the rounds in the lobby shaking hands and pouring coffees.

Let Your Clients Tell Their Stories

Say you’re shopping for a luxury apartment. Which would you trust more: a glossy brochure from the complex management filled with pretty pictures and a long list of amenities, or the person in the unit next door who’s lived there for 10 years and has firsthand knowledge of all the pros and cons?

If you went with the latter, then you understand exactly why it’s important to use real clients in your marketing campaigns. Customer referrals, user-generated content and authentic testimonials are all fantastic ways for your financial firm to build trust.

Inform and Educate

It’s human nature not to trust what we don’t understand. And for the average layperson, there’s a lot about finance to not understand.

The solution? Education!

Whenever possible, create relevant, useful content that serves to inform your clients about what you do specifically and the financial industry in general. This helps you gain a reputation as a thought leader and establishes you as an expert in your field. And people are always more apt to trust an expert.

Be Responsive

No matter how much time and effort you put into educating your clients, they’re bound to have questions. And when they do, they expect a near-immediate answer.

While you can’t possibly be “on” 24/7, it’s important to be as responsive as possible to questions, concerns and feedback.

A robust FAQ page, automated responses that let people know when you’ll be in touch, and even chatbots (when programmed thoughtfully) are all great ways to make yourself approachable and show your clients that you care about what they have to say.

Are You Earning Your Clients’ Trust?

It’s hard to earn someone’s trust, especially in finance. But when you build ways to gain client confidence directly into your marketing strategy, it becomes a bit easier. Honesty, transparency and authenticity go a long way toward making your financial firm shine!

As Cleveland’s premiere financial services marketing agency, Mischa Communications has just what you need to put your brand head and shoulders above the competition. Let’s get started!