You’ve made it to summer and there’s a high chance you need a pat on the back if not a large iced coffee and quite possibly a holiday! But wait, financial marketers are you utilising Q3?
It has been a rough ride of late but if you’ve made it this far without shaking uncontrollably at your desk amidst the various compliance updates then you have totally got this. You’re a marketing superhero and while the sector is somewhat predictable, there’s nothing you can’t handle, right?
Confidence is essential, so let’s zoom in on the finance industry as it stands and find out how you can totally nail your marketing efforts over the next few months. First things first – the rules!!
Finance Regulations: Where Are We Now?
What a year! There have been so many updates and regulation changes, so financial marketers, are you utilising Q3?
Financial services ad bans
Ad bans from tech giants certainly threw a spanner in the works and while many of the strict policies are still in place, Facebook has somewhat backtracked on their former crypto ad ban stance. That’s right, as of June 26th 2018, Mark Zuckerberg and crew decided that they would allow advertisements that promote cryptocurrencies (and related content) – but only from pre-approved advisors. So, if you want to pursue the Facebook ad route once again, you must now request permission by filling out a detailed form. Note however, that ICO and binary content are still banned from Facebook’s pages.
As forward-thinking marketers, you’ve probably already come up with alternative ways of promoting your financial services such as influencer marketing – and that’s fab. A positive endorsement from popular influencers within the financial space such as Erik Voorhees, Barry Silbert and Nick Szabo can be great for business. Here’s how to push forward with your influencer marketing:
- Following and interacting with influencers
- Sharing, re-tweeting and commenting on posts
- Writing influencer-focussed blogs and tagging those mentioned in posts
- Being highly active within appropriate social groups and communities
- Sharing innovative and pioneering ideas with the hope of getting noticed
The Chinese government has taken a firm stance against cryptocurrencies, banning domestic ICOs and crypto trading. Meanwhile, other economic leaders across the globe are still scratching their heads when it comes to regulating digital assets which are turning out to be the rebels of the finance world.
G20 Summit March
At the last G20 summit in March, member nations agreed that cryptocurrencies needed to be examined by that more information was needed before any regulations could be imposed. That said; the timeline wasn’t endless with a July deadline being given for recommendations.
In the meantime, the G20 pledged to apply the standards of the Financial Action Task Force (FATC) – an intergovernmental body designed to fight model laundering and illegal activities – to cryptocurrencies. A G20 statement from March stated:
“We commit to implement the FATF standards as they apply to crypto-assets, look forward to the FATF review of those standards, and call on the FATF to advance global implementation. We call on international standard-setting bodies (SSBs) to continue their monitoring of crypto-assets and their risks, according to their mandates, and assess multilateral responses as needed.”
G20 Summit July
A report delivered to the G20 Finance Ministers and Central Bank Governors for their meeting in Buenos Aires from 21-22 July 2018, described the work of the Financial Stability Board (FSB) and standard-setting bodies on crypto-assets. The report focused on.
- Metrics used to monitor developments in crypto-asset markets
- Vulnerabilities in the financial system
- The need for monitoring amid speedy market innovations
- Metrics on trading volumes, pricing, clearing and margining for crypto-asset derivatives
So in short – Q3 could get interesting. What will happen to the crypto space exactly is still unknown but financial marketers within the sector should certainly keep tabs on all the latest updates.
Embracing Summer Marketing Challenges
Compliance is essential but while crypto guidelines bubble away in the background and the industry becomes predictably quieter during the summer, don’t forget to market away those Q3 months in style! Now is the perfect time to let your hair down (sort of) and have some fun, so here are a few ways you can make a splash this season.
Jump on social media
Social media is a summer essential! Why? Because people these days are addicted to their gadgets and smartphones, so even if they’re sipping cocktails on a beach – they should see your campaign. Financial marketers can embrace that feel-good holiday feeling by:
- Offering freebies and giveaways – think eBooks and training courses.
- Hosting competitions and celebrating the winners. Picture competitions are great as they encourage investors to flaunt the lavishness of their break away.
- Being active on multiple social media platforms and ‘going live’ when appropriate.
Create cosmopolitan content
Remember, not all marketing activities have to be in-your-face promotional. In fact, over the summer months, financial marketers could aim to provide fun, informative content that is useful to the reader. Topics to cover could include:
- Top holiday hot-spots for investors
- A broker’s summer bucket list
- Summer holiday check-list
The more creative you are, the more your ideas will get noticed.
If you need help navigating the current financial regulations and are looking for top quality marketing that will make your Q3 a great success, speak to the Contentworks crew today!