Financial Services Marketing Automation

Financial Services Marketing Automation

Lauren Mardeusz
Senior Manager, Client Services
Jan 24, 2024

Financial firms are constantly looking for ways to improve their financial services marketing strategies, operations, and increase productivity in today's fast-paced world. Marketing automation has become a valuable solution for achieving these objectives. By utilizing marketing automation tools, these companies can streamline their marketing efforts, save time, and reduce expenses.  Marketing automation has many benefits for financial services companies, including its impact on attracting and retaining customers. 

With so many Financial Services companies being asked to do more with less this year, marketing leaders should be looking for strategies that help them get more out of the platforms they are already licensing. A recent Gartner Study found that global CMOs across industries are using less than 42% of the capabilities of the marketing automation platforms they have already licensed.

What is Marketing Automation?

Marketing automation refers to the use of software and technology to streamline various marketing tasks and processes. These can include email marketing, social media management, lead generation, and more. By automating these tasks, companies can effectively reach their target audience while also saving valuable time and resources.

Marketing automation process

Benefits of Marketing Automation for Financial Services

Marketing automation provides numerous advantages for financial services companies. It helps streamline processes, boost efficiency, personalize marketing efforts, and enhance customer engagement. By utilizing automation software, companies can greatly improve their marketing strategies.

Increased Efficiency and Productivity

Implementing marketing automation in the financial services industry can greatly enhance efficiency and productivity. By automating repetitive tasks, employees are able to dedicate more time to building client relationships and developing innovative marketing strategies. This streamlined approach fosters a more productive team and ultimately contributes to overall company performance and success.

Personalized Marketing

Marketing automation technology allows financial services companies to enhance personalization in their marketing efforts. By collecting valuable data and tracking customer behavior, companies can create highly targeted and personalized marketing campaigns. This level of customization can lead to increased engagement, conversion rates, and ultimately, higher customer satisfaction.

FinTech Magazine states that only 26% of consumers say they are completely satisfied with the level of personalization they receive from their banks’ digital tools.

While it’s important to meet a customer's needs, it's also important for financial institutions to strike a balance between personalization and privacy, ensuring that customers feel their data is handled responsibly and that their trust is maintained. Additionally, compliance with regulations is paramount in the highly regulated financial services industry.

2024 marketing trends

Cost Savings

Marketing automation provides numerous advantages that can lead to substantial cost savings for financial services companies. Through automation, companies can simplify their processes and eliminate the need for manual labor, resulting in reduced expenses on human resources. This promotes efficiency within the organization and optimizes the use of available resources. 

Automation also enables the implementation of targeted and personalized marketing strategies, increasing the chances of achieving a higher return on investment (ROI) for marketing campaigns. As a result, companies can maximize their marketing efforts, minimize costs, and ultimately enhance profitability and growth in the highly competitive financial services industry.

Customer retention

Improved Customer Retention

Marketing automation has proven to streamline operations and enhances customer retention rates. By effectively using data and analytics, these companies can identify customers at risk of discontinuing their services. With this information, they can develop targeted and personalized campaigns to retain these customers. Retention efforts may include personalized offers, exclusive loyalty programs, and other incentives tailored to their needs. 

Prioritizing customer satisfaction and loyalty helps minimize the need to constantly acquire new customers, reducing customer acquisition costs. This approach allows for the gradual development of a solid customer base that remains loyal over time.

Examples of Marketing Automation Campaigns

Marketing automation campaigns can be incredibly powerful in the financial services industry. Here are a few examples of campaigns that financial services companies can implement:

Lead Nurturing Campaigns

Financial services companies can leverage marketing automation to enhance lead nurturing and facilitate the progression of leads through the sales funnel. This can be achieved by sending personalized emails containing educational content, case studies, and testimonials to establish trust and credibility.

Onboarding Campaign 

When a new customer signs up for a financial service, an onboarding campaign can be initiated to offer them relevant information and resources. This may involve sending welcome emails, providing tutorials, and offering personalized recommendations tailored to their specific needs and preferences.

Cross-Selling and Upselling Campaign

Marketing automation can be a valuable tool for financial services companies to enhance their customer relationships. By carefully analyzing customer data and behavior, companies can send tailored offers and recommendations to their existing customers, encouraging them to make additional purchases.

Customer Retention Campaign

By using marketing automation, companies can send customized emails and offers to customers based on their previous interactions. They can also offer loyalty rewards, special promotions, and recommendations based on the customer's past interactions in order to keep them happy and loyal.

Next Best Action (NBA)

The term "next best action" (NBA) in the financial services industry refers to data-driven analytics and algorithms that identify the best course of action or offer to present to a customer at a particular moment. The objective is to offer tailored and pertinent recommendations that correspond with the customer's requirements and preferences. A number of platforms in the marketing automation stack are able to determine and deliver NBA recommendations.

A large part of the challenge is determining where in the tech stack that responsibility will lie and how the next best action is presented. The key to this process is defining the different customer journeys and choosing the tool that is best suited to meet the broadest set of use cases. The goal is to use automation technology to send personalized and targeted messages to the right audience at the right time, which will enhance customer engagement and drive business growth.

Implementing Marketing Automation in Financial Services

Implementing the above information  in the financial services industry may seem daunting at first. There are numerous tools and software available that are designed to meet the unique needs of financial services companies. These tools simplify the implementation process, making it easier to get started. To begin your journey, it is important to first identify and define your specific goals and objectives. This will give you a clear understanding of what you want to achieve through marketing automation. With this clarity, you can then carefully select the tools and strategies that align with your goals.

The Global Marketing Automation for Financial Services Market size was estimated at USD 4.56 billion in 2022, USD 4.93 billion in 2023, growing at a CAGR of 8.68% to reach USD 8.87 billion by 2030.

financial services marketing automation market size


Marketing automation can greatly benefit financial services companies when approached strategically, by enhancing efficiency, reducing expenses, and fostering customer loyalty. Through the use of personalized and targeted marketing initiatives, companies can achieve a higher return on investment and cultivate a dedicated customer base. If you are a financial services company aiming to outperform your competitors, incorporating marketing automation into your strategy is worth considering. We would love to hear about your experiences with marketing automation in the financial services industry. Share your thoughts in the comments section.

Ready to elevate your financial services marketing? Contact Further today for tailored solutions that drive results. Learn more about Further’s financial services solutions. Let's chart the course to success together.

Lauren Mardeusz
Senior Manager, Client Services

Lauren Mardeusz is an accomplished professional with 10 years of experience in client services. Known for her exceptional communication skills and strategic approach, she excels in building strong relationships and delivering top-notch solutions tailored to clients' needs. With a keen eye for detail and a passion for exceeding expectations, Lauren is dedicated to providing unparalleled support and satisfaction in every interaction. In her spare time, she enjoys spending time with family and staying active through Pilates.


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