This is the time of year that customers are planning holidays, moving house, and spending up big on gifts for Christmas. Advertising appropriate products to complement these activities is essential!

In the dog-eat-dog world of finance, it’s important for marketers to have an understanding of their customers and potential customers so they can reach them in the most relevant way.

Financial institutions of all sizes are sitting on a huge amount of first-party data about what their potential customers are doing on their websites. If leveraged in a compelling and relevant way, this data can be the most successful marketing tool in their repertoire.

Retargeting isn’t new – many marketers are aware of this strategy, but aren’t using this lucrative advertising channel to its full potential. Not sure if you are? That’s why I’ve pulled together some tips and tricks to take your financial brand’s retargeting strategy to the next level:

1. Segments are key

The first step towards a successful retargeting campaign is to segment your audience so they can be targeted with highly relevant ads based on actions they took on your site.

Intelligent segmentation can allow advertisers to exclude customers that have converted, create loyalty campaigns, or cross-promote complementary products. For example, if a customer recently signed up for a new debit card, one way to cross-promote would be to target them with a popular credit card you also offer. If a customer has taken out home insurance, they could be targeted with a car insurance ad.

2. Use Frequency Caps

This is an important tool that many advertisers don’t think about. Frequency caps are easy to set up and can have a lasting effect on the way a customer or potential customer sees your business. We’ve all been in the situation where we have been aggressively retargeted with what feels like hundreds of the same ads. This is not the way forward, and can be avoided by setting up frequency caps. One-time purchase products such as credit card customers will have a much higher frequency cap than a slow burn customer such as someone looking for a home loan.

3. Engaging creative

This might sound like a no-brainer but you should of course be using enticing ads with engaging colours and clear calls to action. It’s important that your retargeting campaigns are in line with the rest of your advertising, so potential customers know they can trust the ads.

It is also incredibly important to regularly test your creative. Often, the ads you thought would be the least engaging have the most interactions. Testing should happen regularly, as engagement can change.

4. Make the most of relevant seasons

The finance industry, like most industries, has varying peaks throughout the year. As the end of the year approaches, you can try to strategically re-engage previous site visitors and customers with reminders for credit cards in the lead up to Christmas, or loan information before popular holiday times like New Years.

Retargeting, when used to its full potential, has the opportunity to bring back those customers that have shown valuable intent. It just makes sense to utilise it to the max.

You can check out our recent webinar on demand, Online Advertising for the Finance Industry, with Sheldon Chapman, Head of Marketing at Pepperstone, for more tips and best practices!.