Holiday Marketing in 2023: Financial Services
Financial Services brands took a bottom-funnel approach this holiday season, reaching the most relevant consumers at the most relevant times. Brands successfully customized their messaging in 2023 to reach the most interested consumers when the holidays were top of mind.
How did brands achieve this and who were they targeting? Below we define the three types of consumers financial services brands looked to target this past holiday season.
1. The Holiday Prepper
For those who get all their Christmas shopping done by Cyber Monday, brands looked to reach consumers early, mainly via Black Friday and Cyber Monday deals,
Synchrony gave consumers a nudge to start holiday shopping early, looking to relate to them through Zodiac signs. The categorization of different types of holiday shoppers through Zodiac signs was a playful, younger-skewing approach by Synchrony to build a positive brand association while not advertising a specific product or deal.
Source: Comperemedia Omni [10/01/2022-12/05/2023] as of 12/14/2023
Brands reminded consumers that shopping early can also be a chance to earn more. Capital One’s prequalified offer reminded consumers that they can earn money through cash back this Black Friday, as long as they apply for its card.
Source: Comperemedia Omni [10/01/2022-12/05/2023] as of 12/14/2023
2. The Holiday Saver
For many consumers, the holidays are not just a time of joy, but also a significant financial stressor. Brands looked to help these cash-strapped consumers by offering exclusive deals and discounts when they needed them most, as well as providing educational resources for ways to save.
Afterpay reminded consumers that, however, they like to shop, they don’t have to take the financial burden on all at once. The categorization of different kinds of consumers likely helped the brand relate to those consumers and build its core values.
Source: Comperemedia Omni [10/01/2022-12/05/2023] as of 12/14/2023
Brands posed themselves as educational resources for consumers by showing them how to save outside of their offerings. Experian was likely looking to build a positive brand association after its entrance into the card space with the launch of Experian Smart Money in October 2023.
The educational approach taken by brands established them as more than just a financial resource for consumers, but also a valuable educational resource, building value and credibility for consumers.
Source: Comperemedia Omni [10/01/2022-12/05/2023] as of 12/14/2023
3. The Holiday Splurger
For those looking to treat themselves and others to a little extra, brands offered deals for travel and exclusive access to events, as well as nudging consumers to give back to their communities.
AmEx touted exclusive access to Christmastime events, encouraging consumers to treat themselves to a show. The hyper-locality of this campaign which was only seen in Los Angeles, California ensured that it reached interested consumers at the right time. The early access to tickets also created an element of exclusivity, likely a tempting value-add for consumers.
Source: Comperemedia Omni [10/01/2022-12/05/2023] as of 12/14/2023
Brands like the Credit Union of New Jersey encouraged consumers to use their extra money to give back to the community this holiday season. This is an excellent way to cement a brand’s values and show, rather than tell, that they are committed to doing good.
Source: Comperemedia Omni [10/01/2022-12/05/2023] as of 12/14/2023
Interested in learning more about brand strategies for 2023 holiday marketing? Contact us today and one of our Comperemedia experts can help your brand strategize for the 2024 holiday marketing season.
