For the financial sector, offshoring is no longer an unusual option with a number of different locations around the world offering particular advantages to companies who opt to register there.
Improved tax efficiencies, asset management and lower operating costs are just some of the benefits which can be achieved by offshoring far more effectively than keeping the company in the same location.
Some countries have become known for their expertise in accommodating offshore arrangements, and with the respective governments keen to welcome foreign investment, the climate is well suited to the financial sector. In fact, some of these offshore locations have risen on the global stage as hubs for knowledge, expertise and excellence, challenging the long-held stereotypes.
Offshoring doesn’t mean compromising integrity; when done properly there’s just as much regulation and monitoring in offshore locations as in the EU or US. However, that’s not necessarily the perception that the general public have and many feel that a move towards offshoring is simply a cost-cutting exercise and nothing more.
For this reason, maintaining a very public image and engaging with a possibly hostile market is more important than ever. And that’s where digital marketing has a very important role to play.
Changing face of communication
Marketing and advertising has always played an integral role in the reputation of a company but in the past this would have been achieved from far more traditional methods. This could have included radio adverts, billboards or TV commercials.
While all these approaches are still entirely valid, effective marketing in the modern age is very different with digital means the primary channel.
Of course, digital marketing is not a single channel, far from it in fact. Digital marketing means encompassing a number of different methods of not just communication but interaction. And this last point is key: modern digital marketing is no longer the company simply advertising what they want to say, it’s a two way process.
Effective digital marketing
Customers now expect to be able to interact with companies and to have a voice and a means to express it. Much of this expectation has arisen from the growth of social media as the ability to reach out to companies directly with the minimum of fuss.
Sites such as Twitter and Facebook in particular have provided a digital channel for customers to interact with companies, and respond directly to marketing campaigns.
Ignoring this method of marketing isn’t an effective ploy; if you’re not on their building brand awareness and engaging with the community, it doesn’t mean your name will be absent.
Social networking provides a unique ability for customers to discuss your brand directly and if you aren’t present, you won’t have the opportunity to respond to any comments or correct any misunderstandings. Failing to use digital marketing for your benefit simply means that your detractors will have the platform all to themselves.
What your customers want
The single most convenient aspect of digital marketing is that it doesn’t matter where in the world you are, if you have access to the internet you can reach your customers effectively and in real time.
Whether it’s keeping them updated with the latest company news, responding to Tweets or simply showing a regular online presence, the modern customer wants a modern approach. The financial sector isn’t renowned for taking radical and innovative steps, but this is one area where that’s easy to rectify.
Don’t remain in the prehistoric age; connecting with your customers and building your brand within the market has never been easier. Offshore companies desperately need some positive PR and by being accessible, approachable and personable, your business could quickly start to reach a whole new audience.