How can good SEO steps change business?
Good SEO can significantly transform a business by increasing its online visibility, driving more qualified traffic to its website, and ultimately boosting conversions and revenue. By optimising content for search engines, businesses can ensure they appear in relevant search results, making it easier for potential customers to find them. This increased visibility not only enhances brand awareness but also builds trust and credibility with the audience. For instance, a well-executed SEO strategy can help a bank attract more customers looking for financial services, thereby increasing its market share.
How are banks driving the economy and capturing the SME market?
Banks play a crucial role in driving the economy by providing essential financial services that facilitate business operations and growth. They are particularly instrumental in supporting small and medium-sized enterprises (SMEs), which are the backbone of many African economies. By offering tailored financial products and services, banks help SMEs access the capital they need to grow and thrive. For example, banks are leveraging advanced analytics and digital platforms to streamline the lending process, making it easier and faster for SMEs to obtain loans.
Moreover, banks are collaborating with governments to support economic development initiatives. This includes providing financial literacy programmes, offering favourable loan terms, and participating in public-private partnerships to boost entrepreneurship. By supporting SMEs and entrepreneurs, banks are not only driving economic growth but also fostering innovation and job creation.
Insights from the CMO report
The latest CMO report highlights several key trends and statistics that can provide valuable foresight for businesses. One notable insight is the increasing investment in marketing technology (Martech), with senior marketers anticipating a 50% rise in Martech spend over the next five years. This trend underscores the importance of leveraging advanced technologies to gain actionable insights and optimise marketing strategies.
Additionally, the report reveals that high-performing brands attribute their success to a differentiated strategy rather than just adequate funding. This highlights the need for banks to develop unique value propositions and innovative marketing approaches to stand out in a competitive market.
Share of spend vs market share
Understanding the relationship between share of spend and market share is crucial for banks aiming to maximise their impact. In established markets, if a brand’s share of advertising spend is greater than its market share, it is likely to grow. Conversely, if its share of spend is less than its market share, it is likely to decline. Carat, a leading media agency, provides insights into media spend across various regions and categories. Their data can help banks identify key areas for investment and optimise their marketing budgets to achieve better market penetration.
What keeps CMOs of banks up at night?
CMOs at banks face several challenges that keep them up at night. One major concern is the rapid pace of technological change and the need to stay ahead of the curve. This includes integrating new technologies like AI and Martech to enhance customer engagement and streamline operations. Additionally, CMOs are grappling with shrinking budgets and the pressure to deliver more with less. They must also navigate the complexities of regulatory compliance and data privacy, ensuring that their marketing strategies align with legal requirements while still being effective.
Dentsu’s role in driving innovation
As dentsu, we are at the forefront of this transformation. Our investment in AI and other cutting-edge technologies has positioned us ahead of the other five big agencies in Africa, particularly in Sub-Saharan Africa.
Dentsu Merkury is a state-of-the-art identity and personalisation platform designed to function without relying on cookies. It utilises exclusive Consumer Connection Survey (CCS) data to offer unparalleled media planning and audience connection. With over 8000 attributes, it allows for the creation of custom audiences that resonate on both conscious and unconscious levels. The enriched data is linked to a unique Dentsu Merkury ID, providing a comprehensive 360° view of customers and enabling precise targeting. The platform supports rapid audience activation with 49 predefined cohorts and integrates seamlessly with over 200 trading destinations, including Adobe Stack. It empowers campaigns with first-party data while ensuring privacy-safe solutions that are ready to scale.
GenCX is an AI-powered insight engine developed by dentsu’s experts. It transforms data insights and media optimisation by processing natural language enquiries to provide detailed, actionable insights on brand performance. GenCX aids in media planning and optimisation by harnessing financial and campaign data for superior performance. It helps in strategising assurance by understanding the intricacies of campaigns. The platform is continually evolving, with future developments aimed at enhancing post-campaign reporting and modelling buying decisions. At its core, GenCX is driven by a rich database with two years of comprehensive campaign data, making it a bespoke AI solution for a smarter, data-driven future.
We have developed and tested proprietary technologies that give our financial clients a true edge in the market. Our solutions are not only innovative but also proven to connect with consumers on a deeper level. As the leading experts in consumer connection on the continent, we understand the unique needs and preferences of African consumers and tailor our strategies accordingly. By innovating to impact, we ensure that our clients not only stay ahead of the curve but also make a meaningful difference in the lives of their customers.
The digital and technological innovations in the banking sector are having a profound impact on the African economy. By embracing these changes and leveraging our expertise, we can be at the forefront of this transformation, helping to shape the future of banking on the African continent.
