Why content marketing is critically important in financial services.
What makes content marketing in financial services sector a critical approach is all in how we effectively source, manage, and maintain it.
The role of content is crucial in nearly every sector of society. When talking about the sector of financial services, we often think in terms of money signs and spreadsheets. However, the content often must be even more specific, with keen attention to details. Every sector has its uniqueness and it is no different for financial services.
Financial services content can be quite challenging, considering that there are various rules and regulations combined with a variety of financial products to think about. However, with all these challenges, there is a plethora of opportunities that can be explored in the field of content marketing, provided it is planned and executed in the right way.
Even though the process of setting up the right content marketing strategy is the same as it is for other businesses, there are certain scenarios to consider in finances.
Financial services organizations must consider all the risks involved in what you may or may not want to do. More importantly, CFOs and other finance leaders must understand when to be straightforward and bold in communication and when to be subtle. Hence, assessing how a content marketing strategy will be effective for you is a top priority. This can be achieved by answering a few questions:
- How does content marketing relate to my organization?
- Who is the target audience and what are my competitors doing?
- How can content help in overall business and marketing objectives?
- How can I create effective content? And how can I manage it?
- How can I plan to measure the output of content marketing efforts?
In order to get budgetary sanctions, it is better to develop a case study so you can present it to management.
Once the strategy is done, the next step is to develop a content calendar. This calendar will highlight the theme and topics you will cover across a specific period, usually a calendar year. For example, you can set your content calendar theme as shown below:
- January to February: debt consolidation; winter holidays; purchasing
- March to July: fiscal responsibility; saving and budgeting tips
- August to December: new house or vehicle purchases; mortgages; back to school
Once the theme is defined for each month in the content calendar, you can begin working to create details of various topics you plan to cover across the entire timeline. In fact, you can have content details defined on a weekly basis and replicate this monthly.
Define Content Types
Once the theme outline and details are mapped out, it is time to classify the content types that will be produced to make the content marketing strategy work. In some cases, you may want to use only text-based content, but in other cases, you may rely heavily on infographics. The type of content depends on the topic being covered and the target audience you have identified. Some of the most popular types of content used in financial services are:
- Blogs and articles
- Tools and calculators
These tips will help you to develop the right content marketing approach to build effective and engaging content for a financial services organization. There are important benefits content marketing brings to the table for the financial services sector, including:
- Increasing brand awareness
- Boosting positive results like improved traffic and better search results
- Bolstering advertising and PR efforts
- Compelling people to buy products and/or services
Having the right content marketing strategy is not the only factor to consider. Having the right team is critical to ensuring a successful plan execution. Hence, consider setting up an in-house team or hiring a content marketing agency that can get it done.