The market for consumer loans in the US is booming. According to data from TransUnion, last year, the total amount of consumer loans outstanding hit a record $138bn, a 17% jump from the year prior.
If you can’t beat ’em, buy ’em.
For years, many large companies have employed that approach in their digital efforts with varying degrees of success. But in the world of fintech, it would appear that even if you can potentially beat ’em, some companies are still willing to buy ’em.
Finance giant Goldman Sachs has been around for nearly 150 years and is best known as an investment banking outfit, but in the wake of the global financial crisis of 2008 that has permanently altered the fabric of the financial services market and led to the rise of fintechs, the firm, like so many other finance behemoths, began transforming itself.
Facebook-owned Instagram is home to many brands, and is particularly popular among industries that lend themselves to stunning photography, like fashion.
But brands in industries that aren’t as photogenic can find success on Instagram.
Case in point: The Financial Times (FT).
In an effort to get more of its customers to use its digital banking features, JPMorgan Chase is getting into the influencer marketing act.
The bank, the largest in the US, has tapped the Holderness Family to create a series of how-to videos designed to help customers take advantage of Chase’s mobile and online banking offerings.
Goldman Sachs is best known for its investments in the financial markets, but the banking behemoth, which has been around for more than 100 years, is also making investments in digital marketing.
In fact, as the firm’s VP of Digital & Social Media Strategy, Kaydee Bridges, revealed to attendees at Advertising Week, Goldman Sachs has created its own in-house studio.
Are you missing a critical social media KPI?
‘Social media disconnects’, or when consumers unfriend/unlike or unfollow as a result of a social media marketing initiative or campaign, isn’t a term in many marketers’ vocabulary.
Perhaps it’s time for that to change.