The creation of material for matters like finances is no walk in the park. Because of the complexity of services offered, the challenge lies in figuring out how best to make this type of information understandable to most people and simultaneously align it with sales goals.
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Also, even if companies in this field comply with content creation rules, that does not necessarily guarantee seamless content. After all, communicating knowledge and sharing advice on monetary matters must be not only informative but also interesting, which is not easy to do.
This article details specific challenges and how combatting such challenges is a growing need in the current era.
Why Effective Content Marketing for Marketing Financial Services Matters
The data say it all: The right content leads to effective marketing. 79% of customers reveal that their purchase decisions are most influenced by crucial content provided by sales reps, and 22% of customers look at more information from those that have better content.
Additionally, most individuals read an average of 5 pieces of content regarding financial services before they make the decision to talk to a sales rep. This only proves that information regarding financial matters is important – especially in the way they are crafted to engage various audiences.
Therefore, those that offer financial services should keep this in mind, with the end goal of building trust and relationships among those whom they wish to educate and serve.
Main Challenges: Content Marketing for Marketing Financial Services
The majority of the challenges regarding marketing financial services are industry-specific, caused by the constant evolution of available technologies, a plethora of strict rules, and the complexity of the content about financial topics.
Common challenges include finding ways to stay relevant, constructing the proper team, and having the correct KPIs. Below, we detail challenges like the ones mentioned.
Challenge No. 1: Choosing the right marketing techniques
A primary challenge in marketing financial services content is knowing the right techniques to market. If marketers do not have the needed training and knowledge, then the effort is most likely to go downhill.
What financial services must do, then, is to devote resources and time to gain knowledge from various publications, spanning a myriad of topics seen on social networks and blog feeds. It pays to know current trends regarding the marketing industry vis-a-vis the specialized field.
Those who market financial services may also benefit from attending marketing conferences. These include networking events, local conferences, and webinars, which all help in building knowledge and establishing connections.
Additionally, by attending specialized conferences, one can gain help from fellow professionals. This leads to content creation anchored on relevant updates, which will help marketers create genuine, engaging material.
Client success stories and positive reviews also help make a financial services company more credible because people tend to rely on other people’s stories, too. Businesses can employ this marketing technique by highlighting the solution provided and implemented, anchored on concrete proof and with the context of pain points elaborated.
Lastly, one of the more innovative marketing approaches is the utilization of buyer personas. Financial services businesses must find ways to define the personas of their industry and constantly integrate this into their marketing strategies so that they can reach clients well and understand them better – whether through banners, calls, and other forms of sales pitches.
Challenge No. 2: Creating useful, relevant content
Of course, it is critical that financial services companies ensure that their content is relevant and useful. There are various ways to do this.
Rehashing Previous Content
So that previous work is not wasted, what companies can do is repurpose their existing content. This helps save a lot of money, time, effort, and planning.
For one, the same content can be used, only presented in a different format. An example is transforming a website blog post into a social media infographic for the purpose of expanding one’s reach.
This technique helps because different people prefer various formats. Having the content available in different ways not only helps in new content creation but also in audience engagement.
Employing Relevant Keywords
Another important strategy that businesses can use is search engine optimization (SEO), which goes well with content marketing. The right keywords lend themselves well to a strong marketing strategy.
SEO works by anticipating terms most commonly used by online searchers in order to find content. What financial services companies can do is to incorporate these keywords systematically in all of their content so that search engines can lead to their business website.
It is important to note that marketers must find ways to integrate keywords in a natural manner, be it through a video or a blog post.
Making Content Digestible
Financial services involve numbers by a great deal. The goal of businesses is to give their audience these data in ways that make them trustworthy and approachable.
As such, content needs to be digestible and easy to comprehend. Huge chunks of data can thus be broken down into statistics, tables, and infographics; after all, graphic formats appeal to a lot of people nowadays.
Data can also be presented in charts or as bullet points, even case studies. Remember, the better the audience understands the data, the more likely they are to trust a brand and appreciate how businesses took time to simplify complex topics.
Having Content Repositories
Lastly, as a way to have relevant, meaningful content on a regular basis, businesses might benefit from having their own content repository. This repository is the channel where content will be stored, even analyzed when it comes to dealing with the stages in a client’s journey.
A content hub, as it is normally called, should have a resources page and sections on case studies, articles, and publications. Of course, a company blog should be made accessible.
Financial services companies are advised to be meticulous in their choice of content hubs. In fact, companies are not limited to the suggestion detailed above.
Challenge No. 3: Battling work silos
Another perennial problem in financial services marketing is the problem of working in silos. Businesses must ensure that both industry experts and content marketers cooperate in creating valuable content for their clients.
With the right tandem, clients enjoy useful, consumable, and the right information.
On a different but related note on teams and people, financial marketers also face struggles in hiring top talent. Businesses are therefore encouraged to allocate more budget for content marketers because competition is stiff.
Conclusion
Other than the main challenges detailed above, financial services companies also face setbacks when it comes to content distribution, consistency in content quality, and managing clients’ expectations. At the end of the day, what matters is to listen to clients and analyze their needs, so that generation of content that engages them is made possible.