Top Strategies for Promoting Finance Services in New Zealand Through Digital Marketing

Promoting finance services in New Zealand through digital marketing requires a strategic approach that considers the unique market dynamics, regulations, and consumer behaviors. New Zealand’s financial landscape is highly competitive, with both established banks and emerging fintech companies vying for consumer attention. Here’s a guide on how to effectively promote finance services using digital marketing strategies, with real-world examples.

1. Understanding the New Zealand Market

Before diving into specific strategies, it’s essential to understand the financial market in New Zealand. The country has a well-developed banking sector, with major players like ANZ, ASB, Westpac, and BNZ dominating the landscape. In recent years, fintech companies like Harmoney, Xero, and Sharesies have gained traction, offering innovative financial solutions.

Key considerations for marketing in New Zealand:

• Regulatory Compliance: Ensure all marketing efforts comply with the Financial Markets Authority (FMA) regulations.
• Consumer Trust: Building and maintaining trust is crucial in the financial services industry, especially in a market like New Zealand, where consumers value transparency and reliability.

2. Search Engine Optimisation (SEO)

SEO is a critical component of digital marketing for finance services. By optimizing your website and content for relevant keywords, you can improve your visibility on search engines like Google.

• Keyword Research: Identify keywords that potential customers are searching for, such as “best mortgage rates NZ,” “investment opportunities NZ,” or “personal loans NZ.”
• Content Marketing: Create informative content that addresses common financial concerns and questions. For example, ANZ’s “Tips and Guides” section offers advice on home loans, savings, and investments, helping to position the bank as a trusted financial advisor.

3. Pay-Per-Click Advertising (PPC)

PPC advertising, particularly through Google Ads, can be highly effective for finance services.

• Targeted Campaigns: Use PPC to target specific demographics or geographical areas within New Zealand. For instance, promoting mortgage services to Auckland residents during a housing boom can yield high returns.
• Ad Extensions: Utilise ad extensions to include additional information like call buttons, locations, or links to specific pages, making it easier for users to engage with your services.

Example: ASB uses Google Ads to promote their home loan calculators and financial advice services, ensuring they capture search intent related to mortgage queries.

4. Social Media Marketing

Social media platforms like Facebook, LinkedIn, and Instagram are powerful tools for engaging with potential customers.

• Content Strategy: Share educational content, customer testimonials, and updates on financial products. Sharesies, a New Zealand-based investment platform, uses Instagram and Facebook to demystify investing and engage with younger audiences.
• Paid Social Ads: Use targeted ads to reach specific audiences based on interests, demographics, and behavior. LinkedIn, in particular, is useful for promoting business and corporate finance services.

5. Email Marketing

Email marketing remains one of the most effective channels for nurturing leads and maintaining customer relationships.

• Personalization: Segment your email list based on customer interests and behavior to send personalized financial advice, product offers, or updates.
• Automation: Use automated email campaigns to follow up with potential clients who have expressed interest in services like personal loans or investment products.

Example: Kiwibank effectively uses email marketing to keep customers informed about new products, special rates, and financial planning tips.

6. Content Marketing and Thought Leadership

Establishing your brand as a thought leader in the finance sector can build trust and credibility.

• Blogs and Articles: Regularly publish articles on financial trends, market updates, and investment advice. For example, Xero’s blog offers insights into accounting, small business management, and financial health, positioning them as a leader in financial software.
• Webinars and Videos: Host webinars on topics like retirement planning or property investment, and create video content that explains complex financial concepts in simple terms.

7. Influencer Marketing

While influencer marketing is more commonly associated with consumer goods, it can also be effective in finance, particularly with influencers who specialize in financial advice or business coaching.

• Partnerships: Collaborate with local influencers who have credibility in finance or business sectors. They can help promote financial products or services to their followers.

Example: Sharesies partners with financial influencers to promote their investment platform, leveraging their audience to build trust and drive sign-ups.

8. Local SEO and Google My Business

For finance services with physical branches, optimizing for local search is essential.

• Google My Business: Ensure your Google My Business listing is complete and regularly updated with your location, hours, and services.
• Local Listings: Focus on local SEO by creating content that targets specific locations within New Zealand, such as “best savings accounts in Wellington.”

9. Conversion Rate Optimisation (CRO)

Improving the conversion rate of your website is crucial for turning visitors into clients.

• A/B Testing: Test different landing page designs, CTAs, and forms to determine what drives the most conversions.
• User Experience (UX): Ensure your website is easy to navigate, with clear pathways to conversion points like application forms or consultation bookings.

Example: Harmoney, a peer-to-peer lending platform, uses CRO strategies to optimize their loan application process, making it quick and user-friendly, which has contributed to their growth.

10. Analytics and Data-Driven Marketing

Finally, measuring the success of your digital marketing efforts is essential for continuous improvement.

• Google Analytics: Track website traffic, conversion rates, and user behavior to understand which marketing channels are most effective.
• CRM Integration: Use a CRM system to track customer interactions across all channels, ensuring you have a complete view of your customer journey.

Case Studies

Here are a few examples of successful finance campaigns in New Zealand that have effectively utilized digital marketing strategies:

1. Kiwibank – “Mind Over Money” Campaign

Overview: Kiwibank launched the “Mind Over Money” campaign to address financial well-being and help New Zealanders better manage their finances. The campaign included a mix of digital marketing strategies, such as social media, video content, and a dedicated microsite offering resources and tools for better financial management.

Success Factors:

• Content Marketing: Kiwibank created engaging video content featuring financial experts and influencers who shared practical tips on managing money. This content was widely shared across social media platforms, helping to increase brand awareness and engagement.
• Targeted Advertising: Kiwibank used targeted social media ads to reach specific demographics, ensuring that the right people were exposed to the campaign’s content.
• Educational Approach: By focusing on financial education rather than directly promoting their products, Kiwibank positioned itself as a trusted advisor in the financial sector, which helped build long-term customer loyalty.

Results: The campaign received widespread recognition and helped Kiwibank increase its market share by engaging customers with valuable financial advice during a time when financial literacy was more crucial than ever.

2. ASB Bank – “Clever Kash” Campaign

Overview: ASB’s “Clever Kash” campaign introduced a digital money box designed to help children learn about saving in a fun and interactive way. The campaign aimed to engage both parents and children in financial education, using digital marketing to promote the product.

Success Factors:

• Interactive Product: The “Clever Kash” device was a novel product that connected to a smartphone app, allowing parents to transfer “virtual” money into their children’s digital money box. This innovation captured the attention of tech-savvy parents.
• Influencer Marketing: ASB partnered with parenting bloggers and influencers to showcase Clever Kash in action, demonstrating its value to families across New Zealand.
• Multi-Channel Promotion: The campaign was promoted through various channels, including social media, digital ads, and in-branch displays, ensuring wide visibility.

Results: The campaign was highly successful, with Clever Kash becoming a popular tool for teaching kids about money. The campaign also enhanced ASB’s brand image as an innovative and customer-focused bank.

3. ANZ Bank – “We Do How” Campaign

Overview: ANZ’s “We Do How” campaign was designed to showcase the bank’s commitment to helping customers achieve their financial goals. The campaign featured real customer stories and practical advice on a range of financial topics, from saving for a home to managing small business finances.

Success Factors:

• Storytelling: By focusing on real-life customer stories, ANZ created an emotional connection with the audience, making the campaign relatable and impactful.
• Integrated Marketing: The campaign was executed across multiple platforms, including TV, digital ads, social media, and content marketing, ensuring consistent messaging.
• Educational Content: The campaign included detailed guides and resources on the ANZ website, offering practical advice to customers looking to improve their financial situation.

Results: The campaign strengthened ANZ’s brand perception as a supportive and helpful bank, resulting in increased customer engagement and loyalty.

4. Sharesies – “Invest From $5” Campaign

Overview: Sharesies, a New Zealand-based fintech company, launched the “Invest From $5” campaign to encourage everyday Kiwis to start investing with as little as $5. The campaign focused on making investing accessible to everyone, regardless of their financial background.

Success Factors:

• Social Media Engagement: Sharesies used social media platforms like Facebook and Instagram to reach a younger audience, promoting the ease and accessibility of investing through their platform.
• Content Marketing: The campaign included educational content that simplified investment concepts, helping to demystify the process for first-time investors.
• Community Building: Sharesies built a strong online community of investors who shared their experiences and encouraged others to start investing.

Results: The campaign was a major success, leading to significant growth in the number of users on the Sharesies platform. It also positioned Sharesies as a leader in the democratization of investing in New Zealand.

5. BNZ – “Be Good With Money” Campaign

Overview: BNZ’s “Be Good With Money” campaign aimed to empower New Zealanders to make better financial decisions by offering practical tips and tools through various digital channels.

Success Factors:

• Comprehensive Content: The campaign featured a wide range of content, including blog posts, videos, and interactive tools designed to improve financial literacy.
• Targeted Digital Ads: BNZ used digital ads to target specific segments of the population, such as first-time homebuyers and small business owners, offering them tailored advice and solutions.
• Social Media Strategy: The campaign leveraged social media to engage with users and promote the importance of financial literacy, driving traffic to the BNZ website and tools.

Results: The campaign was well-received, helping BNZ to increase customer engagement and reinforce its position as a bank that cares about the financial well-being of its customers.

Conclusion

These examples highlight the diverse ways in which financial services in New Zealand have successfully used digital marketing to engage with customers and achieve their business objectives. Whether through educational content, innovative products, or targeted advertising, these campaigns demonstrate the power of digital marketing in building brand awareness, driving customer engagement, and ultimately, increasing market share.