Ep. 98 | How Voice Search is Disrupting Financial Services Marketing

The voice search explosion is happening to a bank branch and financial planner near you. How will your financial services marketing be disrupted by voice searches and voice-activated smart devices?

In this week’s episode, we chat with Shane Closser from Yext about how will voice impacts financial services and marketing? Shane is Yext’s head of industry and general manager for financial services. He leads all financial services-related activities, including strategy.

In our conversation we discuss how voice search and voice-activated smart devices are changing how people find business services and products, and in particular how they impact financial services. We also review some best-in-class examples, as well as explain how financial services professionals can get started on leveraging voice search to grow their market share. 

Picture of Shane Closser for the Rethink Marketing Podcast, where he talks about impact of Voice Search on the Financial Industry

Shane is a published author and award-winning speaker with over 18 years of experience in Financial Services and High Tech. Before joining Yext, Shane was a Global Managing Director at Accenture serving as the Global Digital Platform Head and NA Marketing Services Head.

Google, Microsoft, Apple and Amazon are getting incredibly better at accurately understanding voice commands. The result is that more and more digital searches are being done via voice.

And with the growth of voice search, it will affect how local businesses are found. And searchers will look for solutions specific to them and their needs. So, that could be someone searching for financial planners that speak Spanish.

According to Google:

  • 2% of those who regularly use a voice-activated device plan to make a voice-enabled purchase within the next month.
  • 58% of those who regularly use a voice-activated device use voice technology to manage their weekly shopping lists.
  • 44% of those who regularly use a voice-activated device order household products at least once a week.
Screenshot of Mary Meeker's Internet Trends Report from 2016. The slide shows increase of voice searches, which will affect financial services marketing

Unlike the “10 blue links” search results you would typically get in a desktop computer text search, voice search results provide just one answer at a time. That means there will be only one best answer. Is your financial institution going to be that one result when it comes to voice search?

Questions to consider:

  • What is your financial institution’s digital knowledge?
  • Are your Google results optimized for search?
  • What are the voice search opportunities (low hanging fruit) you can take advantage of?

Answering those questions will give you the seeds of a voice-search strategy for your financial institution. Unfortunately, this one of those cases were you you’ll have to optimize for voice, as well as pay attention to desktop, mobile and offline marketing activities.

Episode Shownotes

  1. Can you tell us more about yourself and Yext?
  2. The digital landscape continues to evolve. How is the advent of Voice changing how people find business services and products?
  3. In particular, how is Voice impacting financial services and marketing?
  4. When we talk about financial services, just what are we talking about?  
  5. What are some best-in-class examples of voice in financial services?  
  6. As I understand the industry, there are a ton of regulations providers have to comply with in their marketing. How does any of that change with Voice?
  7. How can financial services professionals get started on leveraging voice search to grow their market share?
  8. How do these efforts in voice connect with other marketing activities or their marketing technologies (for example marketing automation)?
  9. How can I learn more about you and Yext?