2020 hiring trends every SG digital marketer should know

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Hiring trends every Digital Marketer in Singapore’s banking and financial sector should know in 2020

An Ethos BeathChapman Banking and Financial Services perspective

By: Mindy Liew, Banking & Financial Services

2019 IN REVIEW

An industry and function disrupted
We witnessed the banking and financial sector’s increased investment in tech capabilities giving way to new services and the disruption of a traditional business model. Digital transformation of the financial services industry was inevitable with the introduction of digital banks, fintech digital disruptors, artificial intelligence and machine learning.

This wave of disruption changed the way businesses connect with their customers. By virtue of customers gravitating towards digital experiences and products, businesses are expected to interact with their customers via a digital-first, mobile-first, customer-centric approach, or risk being left behind. For this reason, a multitude of functions and processes within the sector have been impacted in this revolution towards simplification, automation, accessibility and transparency.

New technologies demand new skills, and marketers are not immune to these changes.

Advances in technology, including AI systems, are creating an ecosystem where traditional marketing positions are in danger of becoming outdated. Retraining and reskilling are absolutely crucial for digital marketers in this ever-evolving digital era.

Managing customer experience and the customer’s journey has been a priority for the financial services sector in 2019. In the same vein, we’ve seen the rise of personalised and data-driven marketing, along with an increasing dependence on artificial intelligence in marketing.

Content marketing and content management have also featured significantly in the omnichannel strategy, with brands expanding their appetite for content, particularly personalised content, and easily digestible formats.

2020 OUTLOOK AND TRENDS

In 2020, brands will continue to increase their digital investment. The cost-effective and measurable nature of digital advertising enables companies to track success and adjust their campaigns in order to maximise their return on investment (ROI), and lower their cost of acquisition.

Rise of emerging technologies
The future of banking and financial services will see more brands harnessing 5G, virtual reality, voice search and AI technologies, to increase user engagement and create more immersive, personalised and delightful customer experiences.

Personalised & data-driven social media marketing
No longer just a tool for communicating and educating your target audience, social media will feature at the forefront of any brand marketing strategy. Marketers will combine customer data with analytics to inform and personalise their marketing approach.

Chatbots as marketing tool
Chatbots’ ability to interact with and offer deep insight into customer behavior and preferences has been a boon to brands. We will start to see them being used more commonly to engage, upsell and cross sell in a personalised and conversational manner.

What does this mean for digital marketers in Singapore’s Banking and Financial Services?

In this 2020 hiring trends and salary report, we identify the digital marketing skills in high demand and a salary guide to help you pay your team right.

Connect with Ethos BeathChapman for more advice.