Integration of Digital marketing in financial services and consultancy.

 When an individual is in an academic course the 2 main components contributing to the title are generally fall in 2 different broad categories: Marketing and Finance. 

Digital marketing and financial services and consultancy have very varied and distinguished components to it. Before I formerly begin let me just tell you something very basic about me. I'm a MBA student specializing in finance and alongside I developed an interest for baking. This zeal to ponder and grow in both the domains lead to the butterfly effect so learning Digital marketing seemed like the next organic choice.

Thereby here I am beginning to write and take you all on the journey of these 33 Blogs, as instructed by my course professor. 

This series of blogs will focus on integrating digital marketing and finance by emphasizing on the impact of digital marketing in financial services and consultancy sector. Now, I know there are a lot of inquisitive minds around. So, it's important that we first understand digital marketing and financial services and consultancy sector individually. 

What is digital marketing? There are numerous interpretations and no one definition. 

                                   

In simple terms, digital marketing is advertising delivered through digital channels. Channels such as social media, mobile applications, email, web applications, search engines, websites, or any new digital channel. Digital marketing matters because of the attention it gets and the eye balls it attracts.Therefore, Google and Facebook generate more ads than traditional media companies.

What is financial services and consultancy sector and what does it include?

                                         

Financial services broadly refers to the services provided by the financial markets and also refer to the organizations that deal with the management of money. 

Financial services consultant basically help individual clients develop personalized financial plans for the financial future of the individual i.e. working on savings, retirement, investments and insurance. Hence, a financial consultant does both formulating the financial plan and licensed  to market the financial products in order to execute the financial plan.

 Consultants meet personally with clients to access the financial position in order to present a financial plan based upon the risk and return appetite, short-term and long-term financial goals of the client. In order, to understand and maintain clients, consultants have to spend a lot of their time meeting and building a strong customer base.

Financial services sector has plenty of different characteristics and has a plethora of opportunities. This sector is highly dependent on the candidates with the right fit.

 Broadly, the main types financial services are banking, advisory,  investment banking or wealth management, mutual funds, insurance or a combination of the above mentioned. The specifications of the services that come under them shall be discussed in the subsequent blogs. 

Banking: It includes handing deposits into checking and savings accounts, as well as lending money to customers and business. This sector has a lot of potential for growth and development not only for the business but also the Economy as a whole.

Mutual Funds:Mutual funds institutions offer a type of investment that multiple parties share in. These investments are managed by a professional, not the investors themselves. The buy-in for a mutual fund is not quite as large as some traditional investments in bonds, the stock market, or the like, so they are a popular option for people who are a little hesitant with their finances.The investments are also diversified, which helps to mitigate risk.

Insurance: it is a system that you pay into monthly or annually which acts as a safety net and covers costs of some large expenditures which are often unforeseen. There are many kinds of insurance: health, auto, home, renters, and life insurance, just to name a few. Working for this industry requires constant research and updation. 

Wealth Management: It helps individuals to save money intelligently, and receive a return on their investment when possible and build your individual net worth!

Advisory: Expert advisory services help both people and organizations with a variety of activities. Financial advisors can help with due diligence on investments, provide valuation services for businesses, aid in real estate endeavors, and more. In each case, advisors help to guide people in the right direction when making financial decisions.