Did your content strategy fail to create a buzz for your financial services? Or is your content marketing strategy in a rut? In either case, you are struggling to understand where to go from here.
Fortunately though, content marketing fixes a persistent problem facing financial services. Fintech products are usually hard to understand for people not deeply familiar with finance. The information is riddled with technical details, jargon and examples that regular people just won’t be able to follow.
Content marketing is indispensable for financial services because it specializes in explaining complex ideas simply. And, more companies are using content marketing now than ever before. In fact, a survey done in 2019 found that 90% of the respondents were using content marketing. And, the number is growing.
We have a quick fix to your finance-specific content marketing woes in this article. Here are the five tried and tested content marketing strategies for financial services that will get your ball rolling.
Still copying content into WordPress?
You’re doing it wrong… say goodbye forever to:
- ❌ Cleaning HTML, removing span tags, line breaks, etc.
- ❌ Creating your Table of Contents anchor ID links for all headers by hand,
- ❌ Resizing & compressing images one-by-one before uploading back into your content,
- ❌ Optimizing images with descriptive file names & alt text attributes,
- ❌ Manually pasting target=“_blank” and/or “nofollow” attributes to every single link
Table of Contents
Content Marketing Challenges Facing the Financial Industry
Unfortunately, financial services and fintech are miles behind the curve when it comes to content marketing. Besides the common challenges of personalizing content. The financial industry has its own unique barriers that it needs to overcome. Some of the specific challenges that prove to be a roadblock are:
Legal Compliance and Regulations:
The finance industry is heavily regulated around the world. Each piece of content, no matter how small or long it is, should conform to the law of the region.
This restricts creativity in how financial services communicate advice to their audience. It also creates a delay in the execution of content marketing strategies. This in turn impacts a business’ willingness to invest in marketing strategies.
Complexity and Technicality of Financial Content:
Most fintech topics are technical in nature. The complex nature of these topics makes it hard for the average person to understand. Check out this blog post to learn more about how much of a problem this can be.
Obviously, turning complex topics simple is a significant challenge. The content not only needs to get ideas across, but stays compliant with industry regulations.
Slow Response Times:
Budget constraints, legal compliances, impatience, and unrealistic expectations are some factors that restrain the financial industry from implementing content marketing.
Here are five tips that will help you overcome these problems and create content marketing strategies that make a difference.
Keep Your Content Simple
Finance is an integral aspect of every person’s life. So, they really have no choice but to have a strong grasp of it. In fact, according to a recent C space study, 92% of millennials believe financial literacy is important. This can be a huge opportunity for a financial service looking to build its brand.
We’ve already mentioned how finance content is technical, which can be a challenge. Your best bet here is to use storytelling and simplification. Both methods are integral to content marketing.
Try explaining your content or ideas to someone unfamiliar with finance. Chances are, they’ll have a number of follow-up questions, write them all down. Now, rewrite your content such that it addresses all those questions right from the get-go.
Another great way to keep content simple is to drill down on the often-dense financial topics. You can break them into chunks that are easy to comprehend for the target audience.
A great example of content marketing done right is Robinhood, which is a stocks and crypto investment fund. Check out their “Learn” tab. It provides in-depth articles on topics related to investments. The company uses content marketing to explain the basics of investment.
Create Content that Shows You Care
But creating content is not enough. Content Marketing Institute (CMI) states that about 78% of financial marketers are using content marketing. But, only 25% of these considered their content marketing strategy to be effective.
This is because most financial marketers create content that users do not relate to. What is the missing link between effective and ineffective content campaigns? The link is creating relatable content that solves the targeted audience’s problems.
A 2018 research by Content Marketing Institute (CMI) revealed that 90% of the most successful content marketers reportedly put their audience’s informational needs before their brand messages.
You must identify your audience’s financial needs to write solution-based blogs. This shows that your brand empathizes with them and creates a strong bond with readers.
The content is also useful for winning your audience’s trust. This is crucial as banks and other financial institutions need to work harder than other retail brands to earn that trust.
MarketMinder is a great example of creating and publishing finance content that resonates with its target audience. Market Minder is a daily publication analyzing current events that impact the market. All their content is written from the reader’s perspective.
The publication sheds light on the immediate and long-term impact of current events on markets around the world. The spot-on commentary makes it a go-to publication for a savvy investor. Its quick and accurate deliverance of financial information makes it popular.
Use Case Studies
Case studies are a popular and effective content marketing tool. It helps businesses showcase the actual performance of their products. Financial brands can provide strong proof that they design products to add value to their customers’ lives.
In fact, 13% of marketers consider case studies to be an important tool in their marketing kitty. Case studies are useful for both generating leads and engaging prospects.
Content Marketing Institute states that 92% of customers trust recommendations from people with similar experiences. Case studies are a brand’s way of recommending their products through their users.
A company that’s used case studies in an effective way is Kabbage. Kabbage is a fintech company that provides financial solutions to small businesses.
It’s Behind the Business page showcases case studies as customer success stories. The page features success stories of small entrepreneurs who have partnered with Kabbage.
It highlights that the partnerships have taken small businesses to the next level. These stories inspire confidence and give the company a humane and empathetic face.
Podcast popularity and listening are on the rise around the globe. In the US alone, 75% of the population is familiar with podcasts and 55% of them have listened to at least one podcast.
The statistics show that podcasts are a powerful tool for financial services content marketing. But, the problem is creating podcasts that work and draw in the targeted audience.
Most marketers struggle to do so and end up rolling out podcasts that are dry and bore the audience. The three essential elements to creating podcasts that make an impact are:
- Deciding the theme of the podcast and giving it a show-like concept
- Defining an episode-level structure for the show
- A talented host
With these ingredients, financial marketers can create podcasts that grab and retain attention. Share it to the world using podcast hosting platforms. Get subscriptions, leads, conversions, word of mouth, and loyalty. This will translate to, subscriptions, leads, conversions, word of mouth, and loyalty.
We recommend Breaking Banks for tips on how to create a financial themed podcast. The fintech podcast hosted by Brett King brings a weekly update from the fintech world.
The brilliant show talks about how fast-paced technology is changing the financial sector. The show invites guest hosts, entrepreneurs, and evangelists for expert views. The exclusive insights give investors and budding fintech companies a glimpse into the future of fintech.
Use Video Marketing
Audio-visual content is a great way to provide personalized content. It circumvents the one-size-fits-all problem in marketing. It explains complex financial products with the help of visual cues.
Besides, video content provides a significant edge in attracting customers. About 90% of financial companies still do not use it as a part of their content marketing strategies. Videos are useful to build trust and relationships with your clients and prospects.
Videos with strong storytelling will help you create a unique and humane brand image. It is an effective content marketing tool that can also be useful to cross-sell products, generate leads, and up-sell services.
A notable example of the effective use of video marketing is Allianz’s campaigns. The company’s #MYCARSTORY campaign in 2016 featured families sharing amusing stories while in their car.
The theme of the videos was to enjoy every ride without worrying about anything. Allianz promoted their car insurance without mentioning or hard selling it. The company launched another campaign called Worry Free.
It invited people to share their ideas of alternative modes of transportation to travel in their cities. Again, the company promoted insurance against home theft and damages without mentioning it.
It achieved this by encouraging people to leave their homes and travel worry-free. With these campaigns, Allianz highlighted their products and connected with their customers’ emotions.
Content marketing has now become essential for financial services. There is no escaping it. Fintech companies can grow by creating simple content that educates their target audiences.
The change is already underway for the largest consumer base, millennials. Millennials prefer brands with podcasts, video marketing, case studies, and educational content. It is high time that financial services adapt to this generational transformation. A failure to do so could end with the company becoming irrelevant and outdated.
Have any questions or ideas about how financial services can ace content marketing? Tell us more about your suggestions or ask your questions in the comments section.