How do you make impactful content marketing in the financial world?
Let’s start with a question: can the financial world use content marketing in the same way that companies in other industries do? The answer? It’s yes, of course, you’ll think. But even if it looks quite obvious, many financial institutions don’t seem to give content the importance it actually deserves nowadays.
That’s because the challenges that a financial company faces are not so different from those of any other company, quite the contrary. Just think about it, what is the primary purpose of any sales strategy? To attract people. How? Usually, through the strengthening of relationships with consumers, i.e. by building a relationship based on trust.
Trust. This is the keyword we’re looking for. It is precisely trust that people have been lacking towards the banking world and finance in general, that lack of transparency that is ultimately at the root of the crisis in the financial world.
But how can we build a relationship based on trust between the financial world and people?
No more corporate language, no more formalities
You can just take a look at the Bank of America website (or any other new born fintech company’s blog) and you’ll understand what we’re talking about: the magazine “Better Money Habits” is a shining example of an excellent modern communication strategy: attractive info graphics, stimulating video content, practical advice and a simple language which seems “close” to the user. Here the bank itself stands out as a source of advice, a teacher and a guide. Not a boring, hyper-rational master, but a friend who inspires confidence and familiarity in a creative, colourful and user-friendly way.
This is the first step for building that relationship of trust that is lacking between the financial world and customers.
Try to value each customer according to his own peculiarities, not his wealth
In order to do this you need to adopt a data analysis strategy1, which, as we have explained before, starts from people’s data for outlining and segmenting each user’s peculiarity. Only through these tools you can start to value the user, by responding precisely to his particular needs, in the right way, at the right time, with the right words.
Basically, you have to start to show customers that you think about them and their needs, beyond their bank accounts.
Engaging the customer in the right way
To improve the institution-customer relationship (and increase profits accordingly) you need to undergo a transformation in product placement strategy, which can take place online as well as on-site.
In other words, traditional financial institutions still rely on their consultants for product placement (and they are right). The problem is that consultants as well need to innovate themselves and have access to that data analysis done (or that should be done) upstream, in order to better understand their clients.
And this is why you need to provide them with the right communication tools based on Artificial Intelligence.
Have you ever heard of something called “conversation starters“? They are nothing more than an effective commercial toolkit designed for financial advisors, which contains, in few slides, an excellent engagement starting point, based on data and built in a precise, creative and stimulating way.
With tools like these, every advisor can easily obtain the right triggers when placing products.
Creating an impartial “virtual” place at the service of consumers
It is often useful to create a place, in this case a “virtual” one, where the user forgets that he is browsing the site of that particular brand. This means creating a place where some contents will not be strictly related to the promotion of a product: on the contrary, they will speak directly to the reader, providing him with the answers he is looking to satisfy his information needs.
An example? The open forum of American Express, a virtual place full of practical tips written by experts in the field and aimed at anyone who has a small business to manage or plans to start one.
What is the advantage of such a strategy? Readers will associate the AmEx brand with the delivery of valuable, useful and reliable advice, just as they associate Coca-Cola with a sense of family.
The right content marketing to regain your social role
Therefore, we can say that the big challenge to build a stable relationship with users is to design the right content marketing strategy. This, in fact, will allow the financial world to regain people’s trust and restore its position as a reference point for people who want to achieve their personal and financial goals.
We will never stop saying it: this challenge starts, is based and evolves from data.
Virtual B’s solution
Virtual B has been working for years in the financial sector, with a close focus on data and data analysis. Our experience has led to numerous solutions that generate value and solve issues for financial and insurance intermediaries.
Virtual B Digital is our unit specialized in content and CRM strategy for the financial sector: creation and management of editorial projects and communication strategies, both for the sales department and the users, using a storytelling that is based on people needs.