: Road to 2023: A year of inclusive marketing for the BFSI sector #IndiaNEWS #Guest Post Inclusivity is finding its way into every industry, including the BFSI sector. Abhishek Gupta notes down 6 top

Road to 2023: A year of inclusive marketing for the BFSI sector #IndiaNEWS #Guest Post
Inclusivity is finding its way into every industry, including the BFSI sector. Abhishek Gupta notes down 6 top trends that he foresees for the new year.

The BFSI sector is closely interlinked with all our lives and has a noteworthy impact on India’s economy. From all things wealth multiplication to protection, the BFSI industry caters to a large number of Indians across the country and continues to grow at a robust pace towards a Financial Inclusion agenda.

It is no wonder then that this sector also dominates a large portion of the marketing trends across the year. As we look ahead to a new year, BFSI companies are increasingly turning to innovative marketing practices to gain an edge over their peers and drive meaningful as well as robust customer experience. The multiplicity of languages in marketing, collecting unique cultural/geographical customer insights, personalized/customized communication and much more have become the order of the day. Quite simply, inclusive marketing has become a brand necessity aligned with customer expectations.

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As we prepare for 2023, the focus on inclusive marketing will continue as BFSI brands explore modern marketing practices to innovate. Here are the top 6 trends that are likely to unfold in the new year:

Going back to basics: In a cluttered marketplace, going back to the basics will help marketers discover relevant and differentiated methods of interacting with the customer and improving brand saliency. A deeper understanding of their expectations and everyday experiences will support brands in creating well-rounded and well-informed marketing strategies. For example, Samsung lets their users directly interact with a customer care representative through WhatsApp chat as opposed to having them call a toll-free number and encounter long wait times or visit a brick-and-mortar service centre.

Simplification: As businesses stay rooted in the aspiration of customer centricity, brands will strive for simplicity. Customers crave simplicity in products and services. For instance, the insurance industry is perceived to have several complexities in not only their products but also their buying experience. The paperwork and documentation requirements alone seem overwhelming to the customer. Companies are already leveraging digital solutions to alleviate the tediousness and make the overall process simpler and relatively less dependent on the customer.

Content visualization: As the marketing landscape evolves and grows more competitive, brands will find ways to make content visually appealing and engaging.