Finance
Trends & Tactics: Finance
At AXIA, our fingers are on the pulse of the health care industry's toughest critics and latest trends. Read, watch or listen to any news source and you'll find that health care is the hot topic. From national health care reform to personal stories about loss of coverage, there is no doubt that the industry is experiencing its most challenging time in history.
Finance Industry Profile
The financial meltdown in late 2008 appears to have been contained, and the federal government's actions in the credit markets have held interest rates down and positively impacted the yield curve. Additionally, the credit markets also have started to ease and the federal government's injection of trillions of dollars into the economy has boosted consumer confidence for the short term. Investment banks continue to compete with other financial services firms such as commercial banks, insurance companies and private equity funds. In 2008, investment banks suffered drops of revenues up to 15 percent as a result of the general economic downturn. All of these institutions face a mixed outlook in 2009 and beyond as well as increased government regulation.
What is the Future of the Financial Industry?
AXIA has a solid investment in the future of its financial industry clients. Following the latest trends is a critical success factor for creating and executing the best possible public relations programs. Some of today's financial trends include:
- The ease of accessing online information and the number of financial news sources has skyrocketed. Approximately four in 10 people online use the Internet to get financial information and advice, including news about stock quotes and mutual funds
- Many consumers are using peer-to-peer lending Web sites, on which individual lenders compete with each other to make loans, often resulting in lower rates for borrowers. Peer-to-peer lending was a $647 million industry in 2007, and it is expected to reach $5.8 billion by 2010.
- Investment bankers will continue to be subject to increased government regulation as a result of the industry collapse in 2008. Consequently, smaller banks and boutique banks are branching into investment banking, capitalizing on this valuable opportunity to grow as a result of the turmoil created on the balance sheets of larger banks.
- Financial institutions' reputations are becoming increasingly important in consumers' financial decision-making. Customer service, industry experience, solid asset management and a sound historical track record are major factors both businesses and consumers are considering when choosing a financial services provider.
AXIA Delivers Results
AXIAÕs team of professionals delivered valuable results for a financial services provider in the north Florida market. The bank wanted to grow its consumer deposit business by introducing a new, high-yield money market account. AXIA developed a comprehensive, integrated campaign that included public relations, outdoor, direct-response, print and point-of-purchase materials, which raised awareness and prompted consumers to open new accounts. Within three months of launching the campaign, the bank netted $14.5 million in commercial and consumer deposits.
Another finance industry success story involves the transition of a private credit union into a community credit union. AXIA and key executives discussed the ways that news coverage could help them boost awareness and capture more customers. AXIA's PR experts wrote news releases and leveraged current newsroom contacts to announce the credit union's new "open membership" to 1.2 million people in the market. In addition, AXIA publicized the company's first building purchase, solidifying the company in the Jacksonville market, and managed the credit union's groundbreaking and grand opening events. The result was equal to more than $58,000 in earned news coverage.
AXIA has the finance industry expertise to help your business garner favorable media coverage and improve credibility while increasing profits. Contact us today and start reaping the benefits tomorrow.