Tackling the top five marketing challenges in the health and finance industries

How marketers can handle skepticism, security, and segmentation 

Healthcare and financial marketers face a unique set of challenges—ever-changing regulatory restrictions that can hamper creativity, a diverse audience that makes catch-all marketing difficult, and a customer base that is skeptical of privacy concerns and predatory practices. 

But these industries cannot afford to suffer decision paralysis. Healthcare is becoming more competitive and “shopper”-friendly with the rise of value-based care, and financial institutions must stay ahead of the innovation curve to remain relevant.

Rise to and thrive through the challenge

Can these institutions create and deploy effective marketing campaigns that explain what they do, outline the benefits of partnering with them, and meet the differing needs of their audience? Of course they can. In our decades of work with leading financial, retail, and healthcare brands, we’ve uncovered five key challenges and the solutions that can help brands rise to the challenge and create successful marketing assets and campaigns. 

1. Regulatory compliance

The challenge: Healthcare and financial services face strict and ever-changing regulatory and compliance requirements that can sometimes make creativity and communication difficult. Sometimes, it feels like there are more questions than answers. Is this too jargon-y? Do we have all the disclosures, information, and fine print needed? How long will this information be relevant before something changes?

The solution: Marketing can be just flyers, postcards, and posters. But it doesn’t have to be, and we don’t think it should be. Use your omnichannel marketing opportunities—like blogs, social media, and websites—to share white papers, FAQs, and webinars that can distill and explain complex issues for customers and patients. This is also a great way to build trust with consumers—if they know someone cares about them understanding, it can help a brand stand out from its competition.

2. Trust and credibility

The challenge: It’s no secret that healthcare and financing are complicated, and consumers are wary of “too good to be true” promises and quick solutions. A skeptical and fatigued customer base can make marketing and communication difficult, especially for brands that know they can help but struggle to break through. 

The solution: Satisfied customers are the best spokespeople. Brands should take time to gather feedback and testimonials that can speak to the legitimacy and utility of their products and feature these prominently on their social media and website. 

3. Security and privacy

The challenge: As technology advances and becomes more complicated, hackers and security threats do, too. Especially with financial and health information, customers are wary of giving away their information and trusting businesses with it.

The solution: It might not be glamorous, but clear, concise communications and policies regarding privacy and safety can really set a brand apart. Trust is incredibly important with customers, so it cannot be overlooked. Start simple by making this information readily accessible. 

4. Audience segmentation

The challenge: Because everyone needs healthcare and financial services, the audience could not be more diverse. How can a brand address and meet these needs effectively?

The solution: Effective marketing needs applicable and accurate data. Utilizing CRM (customer relationship management) systems and analytics to track customer data and behaviors is a great way to make sure campaigns and tactics are reaching the right people at the right time.

5. Integrating traditional and digital marketing

The challenge: As stated above, marketing is much more than flyers and postcards—and the number of options and channels is only growing. Personalization in marketing is everything, but this can be difficult for healthcare and finance brands. 

The solution: Omnichannel marketing means using diverse tactics (such as emails, direct mail, social media, and more) to reach as wide of an audience as possible. Plus, with advancements in technology and AI, personalizing emails has become easier. Utilizing personalized tactics where possible, and spreading brand messages and services across multiple channels, gives brands the best chance to reach their target audience. 

Now’s the time to personalize, diversify, and (over)communicate

Marketing to healthcare and finance customers is challenging and has only been made more challenging as the world becomes more interconnected and complicated. But using multiple channels, personalizing, and focusing on bolstering trust with consumers can set a brand up for success and help them rise to, and thrive through, the challenges other brands cannot overcome. 

Learn how Lunne can be an extension of your internal team and elevate your marketing programs.