Jainab Shaikh, Director-Sales, Outbrain shares two cents on Native as a key performance driver for the brands in the sector.
According to a 2019 report by E&Y, Finance brands are amongst the 3 biggest spenders in digital marketing in India, making up 12% of the total digital ad spend. While financial brands may have big budgets they don’t have an easy task. Challenged with communicating complex product offerings, they also, more than any other vertical, need to establish trust in order to engage a potential customer. Trust is often described as the most valuable currency of our ecosystem, and this is certainly true for brands selling financial products.
For brands looking to acquire new customers online, Native has proven to be a trustworthy and effective channel for finance brands.
A recent European study found that SDS shown on premium news sites are much more likely to be trusted (+31%), clicked on (+16%) and lead to future purchases (+18%) than ads shown on social media platforms.
This is true across all markets and across key verticals, but especially so for Finance, where native ads were considered 36% more trustworthy than Social ads. Here are a few ways financial brands should use Native in 2020 to achieve their performance goals:
Educate the Market
Build content to educate the consumer, this will, in turn, build trust about your product, making the call to action a more informed choice than just an option to evaluate in a pool of brand messages. Relevant & regular content flow makes the user more interested in a brand for the long term with a preference to keep knowing more and thus gains consumer loyalty.
A landing page with interesting and relevant content followed by a lead form can make native a sustainable strategy for quality lead generation for BFSI advertisers.
Transparency is the Key
With transparency, comes trust. Native solutions such as offered by Outbrain presents complete transparency up to section level details across publishers, hence they can ensure more control with the advertiser on the campaign. It helps you pause, adjust bids, scale and consequently control publisher wise performance.
CTR still works!
Though CTR is like a barometer for success when it comes to digital campaigns that are gradually going stale across display platforms. This unit still holds a lot of relevance to your native spends. CTR has a direct impact on bids, scale & conversions and hence its imperative to work towards optimizing on a healthy CTR for your campaign. A good combination of images & headlines with frequent additions improves CTR on a regular basis.
What better way to capitalize on your lost traffic than to use remarketing. The average conversion rate on financial campaigns is anywhere between 3-3.5%, remarketing can definitely help you capitalize on that lost traffic and re-engage with interested customers increase their probability to convert. Custom audiences as a feature can be used to further funnel down your remarketing campaigns for future purposes.
Language is Crucial
With the growth in awareness of bilingual content, it’s important to drive your native strategy to create content and engage with users in both English & Hindi. There are 234 million native Indian speakers on the internet and are expected to grow up to 540 million by 2021, which would make a percentage of 75% of Internet users at that point in time.
This strategy helps you increase both your CTR & conversion rates on relevant publishers. Vernacular content creation is also gaining popularity among advertisers and can be deployed strategically as required for the campaign evaluating both cost and returns.
This article piece is authored by Jainab Shaikh, Director-Sales, Outbrain