ALL THE TIME
Financial services marketers increasingly
embrace a channelless strategy to meet prospects
and customers on their own terms.
With a potential market of 242 million adults in the United States, financial services is a powerful
force in advertising. But even with budgets in
the billions, the competition for consumer dollars is such that companies still need to prove
that the marketing strategies they’ve chosen
are bringing in customers.
And while emerging digital channels have disrupted
some tried-and-true tactics, many marketers are integrat-
ing them into a new “channelless” strategy that presents
the brand consistently, wherever and whenever consumers
choose to interact with it — sometimes on multiple devices
and channels simultaneously.
Why? Because capturing a lead isn’t enough to sell a
complicated financial product. Marketers must pitch their
services via television, social video, and direct mail; educate
consumers about their options on smartphones, tablets,
and desktops; slowly win their trust over time with careful
branding; and (maybe someday) convert them.
A likely scenario is for a consumer to conduct a Google
search for a particular product, check a few boxes online,
download a guide, and finally decide to buy through an
agent. But in actuality, any of those steps might represent
a make-or-break micromoment, and the marketer must ensure that the brand is there when the consumer is ready.
“A channelless strategy is about being the same all over,”
says Samantha Chow, Aite Group senior analyst and the
author of a 2017 report on marketing spend in the life insurance industry. “It’s about presenting the same image and