Consumer behaviour is evolving rapidly. Millennials, as a category, have high expectations from the organizations that they patronize, expect customized approach and experiences, demand mobile friendly technology, and devour tons of information rapidly. It is not astonishing that 88% of the consumers go online first to conduct their research before opening a bank account (ROBO or something that it is called – Research Online Buy Offline?). Source* (CA Web Stress Index).
Given the unquenchable interest for information, particularly in matters related to finance, blogs and online journals are a well-positioned resource that acts as a foundation of digital marketing strategy of any bank. Let’s dig further to understand the reasons to prioritize content marketing in a Bank or a Financial Institution.
Blog content helps deliver on the bank’s mission statement
In most bank websites, you will probably find an “About Us” section with a mission statement, highlighting how the bank empowers people, businesses, and communities to improve their financial well-being. The Bank is likely to be doing this effectively through a combination of CSR initiatives, event sponsorship, literacy programmes, and various such initiatives. While these activities add value, their reach is restricted. It is important for the Bank to create educational content that can reach anyone, anywhere, anytime, by leveraging the expertise. By doing this, the Bank is not only fulfilling its mission statement, but also exhibiting credibility and authority with potential customers.
At Fincare Small Finance Bank, we keep our customer’s financial needs in perspective while creating content and present the bank as a resource for addressing queries and enrich the research available with respect to banking and lending solutions thereby helping customers become more financially aware.
Blog content helps convert prospects into customers
In the past, the buying journey for consumers and businesses was fairly linear. Today, the buyer’s journey is more akin to a spider web of micro-moments. Regardless of the path, the bank needs to be present throughout a prospect’s journey by creating useful content that addresses their concerns. With almost everyone researching online prior to making a purchase choice, you can be certain that customers and prospects are also searching online for financial answers. Wouldn’t it be better that they find answers on your website, and not from a competitor?
Blog content helps build loyalty and trust with customers
If you asked your customers about where they go online for financial advice, news and inspiration, would your website make the cut? Where do they look when they have financial queries or need help in building trust? Blog content can be made to educate and engage customers financially, which will also help to construct trust with clients. 79% of the population consider their banks just as transactional entities, so it’s time to differentiate yourselves by furnishing something beyond cheque books!
Blog content has cumulative benefits
The beauty of the bank blog is that its value increases over time, unlike one-time campaigns like bill- boards, radio, direct mail etc. As you produce unique content every month, you make increasingly more “entryways” into your website. By making this content evergreen, you can guarantee that new clients will keep on finding your blog while they are researching financial information or solutions. Each article you produce can possibly be an ongoing asset for your brand. The total impact of regularly publishing useful content will increase online perceivability, website traffic, and thereby leads. Each content asset on your blog is working to increase the visibility of, and engagement with your bank, 24 hours a day!
Blog content empowers all the other digital marketing endeavours
Without incredible content, for what reason would anybody follow your Facebook page or open your email bulletins, newsletters? Content is the key to social media engagement, email opens, effective search engine optimization, online advertising, and personalized marketing automation.
It is imperative for every organisation, especially Banks, to put in place a content marketing strategy that leverages blogs in particular. It all starts with providing something of value (WIIFM). Content isn’t the only way your bank can offer value. Yet it’s a vital piece of a powerful digital marketing strategy!