Content marketing drives more leads than paid advertising and can cost up to 41% less. But, how does a great financial content marketing strategy achieve so much?
Companies that provide their customer base with up to date blog content are reported to receive 97% more leads than those that don’t. Yet our research for the 2020 Building Societies Digital Census uncovered that only 20% of the UK’s top 40 grossing building societies have a dedicated blog.
With 81% of consumers using digital channels to engage with their bank, a dedicated blog with engaging content is a sure-fire way to provide customers with useful and relevant information. Trust and brand advocacy are forged, which in turn develops customer loyalty and leads to goal conversions.
Marketers who prioritise blogging efforts are said to be 13 times more likely to see positive ROI. 70% of customers stating they feel closer to a company after engaging with their content, blogging is a highly valuable opportunity for those working in financial services.
The financial services industry is highly competitive. With challenger banks and fintech start-ups on the rise, customers have more choice than ever. The level of competition and the development of ‘The Current Account Switch Service’ means the days of someone banking with one firm for life, are all but diminished.
This hive of competition means when relationships between a financial services institution and a customer go wrong, the customer can easily jump ship. Good customer relationships don’t happen overnight in any industry. But providing relevant, insightful, original content without a hard sales pitch can help organisations keep their audience engaged and build that all important trust.
Audiences that are searching for a financial services organisation, such as a building society or bank, are unlikely to be ready to make quick decisions when it comes to their money, loans or investments. But, by building a trusting relationship, through well executed content marketing, a customer can be nurtured, and bonds built.
Financial services companies can easily step up their approach to building customer loyalty by implementing regular updates whether its via email, social media or website content.
Financial content marketing is a huge strategic opportunity that costs over 60% less than traditional marketing. The value of content marketing goes beyond the resource costs of copywriters. Content on your website, third-party sites or social channels provides audiences with accessible research material before they make an informed decision to get in contact. This delivers better quality leads, namely customers that are already interested in your products or services.
In addition to this, learning what content your audiences are viewing and engaging with enable you to develop customer personas. This technique helps you to segment your audience and target content specifically to their demographics and activity. How does this add value? Segmentation allows you to have more relevant conversations with higher quality prospects, reducing the cost per lead and increasing the chance of conversion. Website experience platforms like Sitecore have multiple features to aid marketers in capturing and managing user behaviour data. Content marketing campaigns are supported by Sitecore analytics, a great toolbox for marketers that includes goal tracking, testing, automation and many more capabilities.
As the world becomes more and more digitally driven, being visible online should be a priority for any organisation. The first five organic results on page one of Google’s search results account for 67.6% of all clicks. With Google searches accounting for 94% of all search traffic globally, it’s highly recommended that organisations aspiring to drive online visibility and organic traffic adhere to Google’s guidelines.
Search engine optimisation (SEO) is the key digital marketing tactic that drives online visibility, and content marketing is the fuel that’s vital for it to succeed. Optimising content for keywords or phrases that your audience is searching for in Google will help put your business in front of your customers and increase brand awareness.
In addition to optimising content for keywords, it is increasingly important for content to be ‘voice search SEO’ friendly. This caters for the reported 40% of adults who use mobile voice search daily. By the end of 2020 it’s predicted that approximately a third of all searches will be done without a screen. If financial service organisations fail to act on this digital trend, they risk losing out to more digitally advanced competitors who have fully optimised their websites specifically for this.
If you think social media is just for digital natives, you’re mistaken. 42% of the world’s population is active on social media. The way in which an organisation uses social media can impact how they are perceived by their audience. Social media gives financial services organisations the opportunity to extend the level of customer service from offline to digital and build close, trusting relationships with their audience.
This being said, social media must be carefully planned and executed with consideration and thought. 21% of those under the age of 35 would consider breaking ties with a company with poor social media support, so a robust strategy of content output, feedback monitoring and analysis must be in place.
Regularly sharing new content updates and repurposing old content on social channels can help organisations to stay in the forefront of their customers’ minds and gain new followers. 90% of marketers praise social media marketing for increasing brand exposure and 75% say that sharing content on social media led to an increase in website traffic.
When considering your content mix, make sure that you plan in plenty of video content. Video content is 50 times more likely to drive organic traffic than plain text content, and landing pages that include video can increase conversions by 86%. Social videos in particular generate 1200% more shares than text and image content combined, and what’s amazing is the organic reach on social channels won’t cost you a penny.
Does your organisation have a content marketing strategy in place already? Or does your organisation need to introduce one? Whether your content output is struggling due to the lack of resource, expertise or experience, we can help you out.
At Kagool, we have a dedicated marketing team of highly skilled professionals that support enterprises with copywriting, technical SEO and other aspects of digital marketing. Contact us today to discuss how you could be getting more from your digital marketing strategy.