Decoding the Highs and Lows: Challenges of High Acquisition Cost & Low Conversion Metrics in BFSI Marketing.

From our vantage point, the BFSI industry is currently facing a whole slew of challenges vis-à-vis their marketing. If these issues are resolved, then the industry will fulfill their potential for earnings and doing right by their customers. As things stand now, a rapid pace of innovation is ushering in a new era of competition from Fintechs who have revolutionized the way services are delivered.

We see four major areas that the BFSI industry needs to address - the high cost of customer acquisition, poor conversion rates, the contribution of digital marketing to business growth, and the disruption that Fintech has brought to the table.

This critical juncture could also be a tipping point if harnessed at the right time. In this whirlwind of change, the BFSI sector must leverage the power of innovation, agility, and collaboration to chart a “new and improved” version of themselves and emerge stronger in the financial ecosystem.