Credit Union Marketing Trends in 2021

Credit unions are constantly changing with the times to keep ahead of the competition. To stay current, it is time to take a look at what tendencies are on the horizon for the rest of 2021 and beyond. This blog post will cover top credit union marketing trends and how you can start implementing them to improve your chances of success.

The marketing landscape is changing continuously for the financial industry. To keep up with the latest trends, use the following tips for successful credit union marketing.

Implement digital financial tools

Consumers today are more aware of cutting-edge technologies, which is resulting in increasing demand for self-service banking and other digital-based services (such as financial digital tools). In fact, digital banking stats expect that the total number of mobile and online banking users will surpass 3.6 billion by 2024.  

Through digital tools, consumers can take better control of their finances than ever before. As credit unions continue to experience mounting competitive exposure in the marketplace, the financial industry will ultimately shift toward innovative digital tools that are mutually beneficial to financial institutions and consumers alike. 

Credit unions should invest in innovation to make the transition to a more technologically driven future. Leveraging payment solutions and other delivery channel technologies will enable you to provide a variety of modern mobile cooperative financial services that maintain savings and income within the movement.

Use chatbots to improve customer experience and collect user data

Chatbots are computer programs designed to simulate conversation with real humans. Credit union marketing departments widely use chatbots to offer faster and more direct communication with consumers. 

Some of the advantages of chatbots are that they are easy to deploy, do not consume a lot of time, and can be used to answer simple questions via instant messaging applications. Furthermore, bots are designed to help the customer during the day, but they also collect valuable information about the user, which is a part of banking content marketing efforts.

Bots may be beneficial for automating routine tasks, responding to typical client inquiries, and even closing deals.

Build individual member experience

In the ever-changing world of banking, credit unions are turning to new strategies to stay competitive. One of the most comprehensive strategies is to focus on members. According to the annual American Consumer Satisfaction Index survey, credit unions “fell 2.5% to a score of 77 on a 100-point scale” – behind banks by one point. The more you can focus on your members, the happier they will be, which will ultimately lead to higher customer satisfaction.  

Financial institutions must meet the expectations of educated consumers for a consistent, highly personalized experience across all digital and physical touchpoints, or else members will switch over to another organization. To effectively satisfy customer demands, you should first understand them. Knowing customers’ needs will allow you to match products and services to customer behaviors and intent dynamically. 

Connect with your audience as a part of your credit union marketing campaign

When it comes to credit union marketing trends for 2021, the first thing to keep in mind is who you’re marketing to. You may need to create online and offline events and programs for your target audience. By doing so, you can build trust and long-lasting connections. 

For example:

  • Newsletters. This is one of the most significant ways to reach a target audience in a more personalized manner. Make sure that the language and tone are light and conversational.
  • Infographics. You can make your content more visual by using infographics and videos. People are 30% more likely to send payments faster when persuaded by visuals.
  • Social media engagement. Create social media polls to ask customers about their needs and pain points. It will give you the chance to understand where improvements are needed. Ask the right questions to receive feedback.
  • Content marketing. Provide valuable insights and establish yourself as a thought leader.

Digitize your processes to attract a younger audience

With the proliferation of mobile devices and online marketing, credit unions need to focus on using their digital presence to help engage with younger users and those who want to interact outside the traditional banking content marketing system. 

The millennial market has shown itself to be more receptive than past generations to leveraging new technologies. Millennials are the most active online bankers of all ages. They tend to search offers online, with 31% of them using apps to discover deals.

So, it makes sense for you to consider utilizing these new technologies to further your business. Keep in mind what your customers’ needs are based on their age range. For example, when you think of millennials, it would make sense to consider their struggle of financial uncertainty during these times and propose services accordingly that address their concerns and economic demands. 

In summary

In 2021, a tremendous planned marketing strategy can play a critical role for credit unions. By following and implementing a rapid change in marketing trends in digital banking usage, you will be excited to see what positive impact it can bring for your credit union development.

Tempesta Media’s managed service solution assists financial services firms in generating profits and boosting engagement. We can help scale your strategy to enhance your client base through our extensive experience in digital marketing. Content, social media, and influencer marketing are all seamlessly integrated into our managed service solution for the financial industry to produce revenue for you. 

Contact us to optimize your bottom line performance while minimizing your costs.

How to Get More Brand Visibility for Financial Services

Building brand visibility is an essential part of a financial services marketing strategy that will keep you at the top of customers’ minds.

It’s not easy to build a brand, especially in financial services. Digital experiences are accelerating and consumers have more choices than ever. Effective marketing strategies can help you stand out, increase brand visibility, and build trust.

Here are some high-impact strategies you can use to market your financial services business.

Optimize digital user experience (UX)

Digital interactions have become the most common way consumers connect with financial institutions. From doing everyday banking to getting mortgage loans and investing in a 401(k), financial services live online. One bad experience with your brand can hurt buyer confidence and destroy your brand’s reputation.

As the world moves past COVID-19, the shift to a mostly digital world is likely to remain for financial services companies. That means doubling down on brand experiences online to give customers what they need. The best ways to do that include:

  • Digital audits: Many banks and financial institutions have the technological capacity to meet customers’ digital demands. But they don’t use them effectively. Audit your user experience online to make sure it’s a seamless path for customers.
  • Addressing UX gaps: These are gaps between what a consumer expects and what they actually experience. They create a negative brand experience. Most come in the form of poor design, poor execution, lack of value, and lack of feedback on how to improve.
  • Strategic marketing: Marketing has the power to build your brand. But that only works if it’s used the right way. Campaigns should incorporate many channels and powerful content to create better user experiences.
  • Mobile-first design: Millennials and Gen Z are steadily moving towards online banking. They generally use phones to access all financial services. Whether B2B or B2C, optimizing for mobile is a must.

Turn your data into insightful personalized user experiences

A person’s financial story is very personal. Whether someone is starting a business, opening their first bank account, or buying a home, it’s a big milestone in their life. Using the information that you have about where a customer is in their journey can help you create a more personalized experience.

When a brand delights its customers, they are more likely to remain loyal. Do this by creating a customized pathway to take advantage of the tools and services you offer.

Integrate storytelling videos

Customers retain 95% of a message that they see watching a video. It’s one of the most effective ways to capture consumers’ attention today. Videos seize that emotion and allow you to tell great stories that connect with current and future customers. They are a powerful way to build a connection to your brand, which can pay off in the long run.
To create great videos for financial services that will improve your brand visibility:
  • Define your marketing goals.
  • Make sure videos capture your voice. (Most financial services companies want to convey a professional, trustworthy, and knowledgeable tone.)
  • Build trust by offering good information.
  • Educate people about big (and sometimes confusing) financial topics.
  • Ask your users to submit their own videos that tell a story.

Relate with the target audience through social media channels and websites

Website and social media present opportunities to develop long-lasting brand relationships with consumers. The key is to create interesting content to publish online. Your content must meet consumers’ needs to build and solidify that emotional connection. You can do that through:

  • Writing blog posts that answer consumers’ common financial questions.
  • Creating how-to videos that explain various parts of a financial journey.
  • Making financial education content to help people feel more confident in their decisions.
  • Creating a community where consumers feel they belong on social media.

Build your financial services brand

Online interactions are here to stay in the financial sector. To nurture these consumer relationships, companies must invest in marketing for brand visibility. You can do that through personalized user experiences, video marketing, and content marketing.

Talk to Tempesta Media today to learn how our managed content services solution can help you develop trust with your audience. To discover other ways you can optimize your content marketing program to achieve success and stronger client relationships, download our e-book on 100 mistakes companies often make when implementing their strategies.

Digital Marketing for Financial Services That Drives Revenue at a Lower Cost

Effective digital marketing for financial services capture the attention of potential customers and translate to higher conversions and better customer outreach.

Financial services are something that everyone will need at some point in their lives. Brands must reach consumers that need their services at the right time in their discovery to increase chances of success.

You might be worried about the cost of launching a major marketing campaign. Luckily, even without a big budget, you can reach your target audience. These tips can help you guide people through the buyer journey and towards a sale.

Automate your digital marketing for financial services

Automated marketing provides many benefits to financial service companies, including:

  • Improving the productivity of an internal marketing team.
  • Expediting tasks that your team used to do manually and can now be done with algorithms and AI.
  • Cutting costs for your overall marketing.
  • Increasing access to talent with the costs of hiring internally.

Automated marketing solutions through a managed services provider (MSP) offers access to a team of talented professionals. This reduces the need for more internal marketing team members, thus eliminating the added costs of hiring, salaries, and benefits. These costs can easily top $4,000 for recruiting and onboarding per person.

If you already have an internal team, you can still take advantage of MSP cost savings and expertise. Outsourcing some or all of your marketing allows you to focus on things you do well. It also gives you access to people with a deep knowledge of digital marketing, SEO, and social media.

Create incentives to share

Word-of-mouth marketing (WOMM) is one of the most valuable tools in digital marketing for financial services, as the industry is built on trust and reliability. Today, WOMM includes digital strategies that encourage people to share information with close friends and family through social media or by leaving positive reviews online.

Trusted associates, family members, and friends are the primary sources of referrals for financial decisions, thus making WOMM crucial to marketing success. Two simple things you can do to improve WOMM include:

  • Offering incentives for referrals. For example, send a unique discount code to someone who refers a friend when their friend signs up or makes a purchase.
  • Encouraging online reviews. More than 9 out of 10 (93%) consumers use the internet to find local businesses, products, and services. Only 48% would consider using a business that had a rating lower than 4 stars. Trust is one of the most important factors in a financial services relationship. Online reviews can build trust with consumers.

Use social media to your advantage

A Putnam study found that 74% of financial advisors who used social media were able to build relationships and onboard new clients. That was during a global pandemic when traditional face-to-face connections were not possible, but the method was still effective. Those that saw the most success used social media as a tool to educate and build trust, and financial services companies in a post-pandemic era can continue using these tactics to create stronger relationships with more people.

To get the most out of social media marketing solutions, you need:

  • A clear strategy for your social media channels.
  • A content calendar for what and when you will post.
  • Content creators who can generate blogs, social posts, and other strategic content.
  • Consistency in how, when, and what you post.
  • A detailed review (reporting and analytics) to improve your strategy.

The most effective platforms for financial services are LinkedIn, Facebook, and Twitter. Some companies don’t have team members internally who can handle this, or they don’t have the right skills. A managed services content marketing provider can help.

Remain relevant with SEO

Search engine optimization (SEO) is another critical piece of the puzzle. Instant access to unlimited financial information online is changing the customer journey. Online search has changed the way consumers find financial service providers.

A Yext survey found that 82% of customers use search engines to ask detailed questions about financial advisors. They look for everything from expertise and years of experience to reviews. Most searches today are grouped around specific intent on the part of the consumer who wants to:

  • Know something.
  • Go somewhere.
  • Do something.
  • Buy something.

The right SEO marketing solutions can help you stand out in a crowded industry. Being at the top of search results can translate to new customers. It can also bring in qualified leads and more revenue.

Leverage influencer marketing

Nowadays every business niche has prominent voices on the internet. In the world of financial services, this could be anyone from a CEO of a Fortune 500 fintech company to a small-time blogger who writes about credits and insurance benefits. These people gathered online followings and created a whole new wave of advertising partnerships – influencer marketing. It’s already on track to be a $15 billion industry by 2022, almost doubling the number from 2019.

Influencer marketing starts with connecting with the right person in your specific financial niche so they can present your product to their audience. Because the influencer rose in popularity due to their expertise, trustworthiness, and personality, this marketing tactic is a great way for you to make those crucial connections with leads that paint you as a reliable partner they can trust with their finance needs.

Here’s what goes into effective influencer marketing strategies:

  • Match with the right audience/influencer combination. You might find the perfect person to represent your lending platform, but if their audience consists of people in the wrong geography or age group, access to their attention wouldn’t translate into a successful campaign.
  • Keep it simple. After finding that perfect match, make their job easy. Offer access to ready marketing materials, affiliate links, and a unique offer for their referrals. At the same time though, allow the influencer some creative freedom to ensure their personality dominates the post. You want to rely on the influencer’s relationship with their followers and not turn the post into a typical sales-heavy advertisement.
  • Develop relationships. Great influencers can turn into brand ambassadors – people who can promote your financial company to fellow entrepreneurs. Unlike traditional sales teams, they work on long-term partnerships and create word-of-mouth marketing, widely increasing your credibility.

Over time, you can create a robust network of influencers who bring paying customers directly to your website.

Learn more: 100 things to avoid in your marketing

Today’s digital marketing solutions offer low-cost options to reach customers. They allow you to automate your work, incentivize customers to recommend your business, and use social media, influencer, and SEO marketing. However, you need a good understanding of how to use these tools to your advantage. A managed services content provider like Tempesta Media can help build a strategic plan and fulfill your content needs.
But these aren’t the only tools to utilize. Download our e-book to see some of the most common mistakes companies make in their content marketing efforts so you can get the edge you need in the financial services world.

How Financial Services Companies Can Prepare Themselves for the Google Algorithm Update 2021

Google is about to release an important update to its search algorithm. This Google algorithm update 2021 will target page experience with signals like loading speed and safe browsing.

If there is one piece of timeless SEO advice, it’s that you need to keep up with Google’s algorithm updates. The search engine giant regularly improves the way it ranks pages to put quality content in front of users by using an ever-growing list of page ranking factors. As a financial services company looking to rank higher, here’s what you need to know to take advantage of the new update.

Which factors will the Google algorithm update 2021 target?

The Google Page Experience update will be released in May 2021. This update will add new factors for page rankings, including a mix of signals that Google already uses like mobile-friendliness, HTTPS protocol, the presence of intrusive pop-ups, and safe browsing.

It will also add Core Web Vitals like loading speed, visual stability (the movements of page content when it loads), and interactivity (how quickly elements respond when a user clicks or taps).

In 2020, consumers turned to the internet to research personal finance topics like down payments on homes, cash-back credit cards, car insurance discounts for low miles, and ethical investing. These trends reflect as many starting points in online journeys that are becoming increasingly complex.

Keeping up with this new algorithm update ensures that your content continues to rank high to capture relevant searches and provide users with solutions to their problems.

How can financial service professionals prepare for this new update?

You can prepare for the Google algorithm update 2021 by optimizing the following aspects of your site:

Page experience and website health

Your website health score is an important indicator for safe browsing. Poor website health doesn’t reflect the kind of trustworthiness search engines and consumers look for in financial services. You can assess this metric by looking at the number of pages with errors and comparing it to the ratio of healthy pages.

Google’s Security Issues report tool can help you diagnose issues that send negative signals for safe browsing, like hacked content or malware.

Publish quality content

Google explained that the pages with the best information will continue to rank higher. Page experience is one of the many factors that come into play when ranking content that is equally relevant.

Financial topics call for higher levels of expertise in Google’s quality standards. So, publish quality content that showcases your expertise, and add information about your credentials.

Make your site fast and mobile-friendly

According to Google, mobile searches related to financial planning have increased by 70% between 2016 and 2018. It’s more important than ever to offer a seamless experience for mobile users.

Ideally, your pages should load in 2.5 seconds or faster. Here’s how you can improve loading speed:

  • Use effective image formats like WebP, and size your images properly.
  • Get rid of unused code, unnecessary characters, and comments.
  • Avoid redirects when possible.
  • Take advantage of browser caching so that repeat visitors don’t have to load pages from scratch.

Use Google’s PageSpeed Insights to analyze your webpages and get recommendations for improving loading speed.

Fast loading speeds will make your website more friendly for mobile users, but there are additional steps you can take:

  • Pick a mobile responsive theme that adapts to the device screen size.
  • Get rid of interstitials.
  • Optimize items like font size and button placement.
  • Rethink navigation to make information easier to access for mobile users.

Top keyword research for the finance industry

Preparing your website for the Google algorithm update 2021 is an opportunity to freshen up the focus keyword phrases you target.

Here are a few current topics to explore:

  • A new generation of investors is emerging. These DIY investors are between 25 and 34 and are interested in ethical investing.
  • Markets like blockchain technology, the cannabis industry, and AI are appealing to investors who seek growth.
  • There are new areas where your expertise is needed, like possible upcoming tax changes.

You should also consider semantics and use keywords that sound more like human speech. Voice search is on the rise thanks to digital assistants, and users are more likely to issue longer queries that feel more natural.

Find keywords related to these topics and more with Google’s Keyword Planner tool.

Optimize titles, headings, and content for top keywords

Once you know the top keywords you want to target, use them to optimize the following elements for the Google algorithm update 2021:

  • Page titles. Use keywords to create a short and accurate description of your content.
  • Meta descriptions. Your keywords will appear in bold if they match the search terms.
  • Headings. Structure your content with optimized headings and draw attention to different subtopics with LSI keywords. Adding an FAQ to a page is a great way to introduce more keyword-rich headings while answering common questions users might have when researching financial topics.
  • Copy. Keywords should occur naturally in your copy. Aim for a keyword density of .5-2%.

Create and optimize your Google My Business page

Local SEO is crucial for bringing foot traffic to your brick-and-mortar location. Even though consumers want perks like digital resources and video calls, many still look for financial service professionals at a local level with tools like Google Maps.

Claim your Google My Business listing so you can optimize the information displayed for these results. If you don’t claim your listing, Google will display an auto-generated result block that might be inaccurate or look incomplete.

Besides, Google displays reviews in these result blocks. Among 18 to 34-years-old, 91% of users trust reviews, a key demographic for growth in the financial industry.

Complete your directory and social media listings

Claim your business listings on popular directories like Yelp or Yellow Pages and sign up for industry-specific directories like CPA Finder or BrightScope. Having listings allows you to update your business information, including NAP (Name, Address, Phone), which needs to be consistent for local SEO rankings.

During the pandemic, 74% of financial advisors used social media for new client acquisition. Social media will continue to be a valuable channel for connecting with your audience. With these pages appearing in search results, they could become an important source of organic traffic and lead generation.

Optimize images and video content on your site

Even though 86% of businesses use video as a marketing tool, financial service professionals tend to lag behind in this area. Developing visual content helps users absorb complex information, and optimizing images and videos sends a strong signal that your pages have plenty of relevant content. Because search engines can’t analyze this content, you need to use the following techniques:

  • Create descriptive titles that use keywords.
  • Optimize file names with keywords.
  • Describe images with alt tags.
  • Add short captions to your images.
  • Think about adding a transcript for content like videos and podcasts.
  • Pick appealing thumbnails and use unique images over stock images since this content can appear in SERPs.

Closing remarks on the Google algorithm update 2021

Focus on improving page loading speed, making your content mobile-friendly, and delivering a safe browsing experience. You should also continue using other tried and true SEO techniques to consolidate your page rankings.

Tempesta Media can help you prepare for the Google algorithm update 2021. We offer managed services with capabilities like on- and off-page SEO optimization for better performance and a faster approval and publication process.

In fact, our platform can improve the performance of your content marketing team by 30% with features like a seamless content workflow and integration of content and social media. Contact us today to learn more! And while you’re at it, don’t forget to download our e-book on 100 mistakes businesses make in their content marketing programs to ensure your financial services company runs the most effective program possible.

Win With Financial Services Content Marketing

The financial services industry has significantly shifted its marketing methods within the past five years. Many other industries have as well, so the financial services content marketing is quickly seeing mass adoption.

Surveys show that 61% of CMOs expect to increase content marketing budgets in the coming year. Unfortunately, that also means financial services content marketing has saturated the online space. Therefore, this makes it even more difficult for them to get attention. What will work? Before we dive into strategies for success, let’s examine what used to work:

  • Newsletters. Content was typically delivered in a newsletter format much less frequently, such as monthly or quarterly.
  • The hard sell. Financial institutions tended to promote their products and services right off the bat.
  • Marketing to other businesses. The industry was much more focused on marketing to other businesses rather than to individuals.

That kind of approach simply will not work anymore. Here’s why:

  • Digital is more economical. To be seen, you must be online because that’s where potential customers are these days. Traditional marketing methods are too costly and do little to help you form a personal connection with customers.
  • Financial institutions must inform before they sell. People, especially millennials, don’t trust the financial services industry. That makes their trust especially difficult to win. The solution doesn’t involve sales pitches. It involves giving away knowledge and advice for free.
  • It’s getting very personal. The financial sector is taking a much more personalized approach to marketing, trying to appeal to individual customers with informative content that helps them solve problems.

Content marketing fits well into the new approach. Here’s how to make a financial services content marketing strategy shine:

Generic blog posts won’t cut it anymore

A blog title such as “10 Ways to Invest Wisely” might get to the point, but it’s not necessarily going to hold customers’ attention for very long. A better way is to consider different types of content that are fun, human and informative.

For example: This fun video series from Umpqua Bank is aimed at millennials. The videos address the lives of potential investors and speaks to why investing can be so pivotal. It also tells them what to do.

Or, 56 Sage Street, a fun interactive game from Barclays in the United Kingdom, teaches kids money management.

These content types are both educational and engaging, which benefits both the customer and the company.

Boost your SEO knowledge for financial services content marketing

  • Update your location in your meta descriptions.
  • Make sure your business is properly listed on Google.
  • Include local words in your header tags.

Consider a mix of content types

Beyond blog posts, consider:

  • Infographics.
  • Videos.
  • Podcasts.
  • Webinars.

Make sure your content is bolstered by effective social media and email marketing.

Use social media effectively

  • Listen to conversations about your brand to gauge customer sentiment.
  • Participate in conversations with current and potential customers.
  • Use their feedback as fuel for informative content.

Want more content help with financial services content marketing?

Tempesta Media‘s content experts, backed by a state-of-the-art content management system, can help you design a strategy for your business. Contact us to discuss your content marketing goals and how we can help.

Understanding your customers and focusing on their financial needs

One of the most important factors to keep in mind during today’s world of selling and buying is understanding your customers. However, it’s just as crucial that you keep their financial needs in mind if you truly wish to be beneficial to your consumers. Here, we will look at a few of the things you can do to accomplish these goals and become successful in your business.

The customer experience – understanding the customer’s needs

Customer experience is quickly becoming one of the most important factors in every industry. In fact, some research shows that by the year 2020, the customer’s experience will be more important than price and even the product itself. For this reason, developing a way to improve your customer’s experience is crucial.
The first step you will need to take is learning how to understand your customer. One of the best ways to get to know them better is by engaging with them in real time. There are several tools to allow you to accomplish this goal with very little effort. For example, messenger tools, like Drift, allow you to talk to your customers when they visit your website.
You should also consider developing buyer personas for all of your consumer types. Put yourself in your customers’ shoes and consider what is most important to them and what their needs are. Organize your buyers into groups, and determine what problems these groups might face. The information you gather will allow you to determine ways to best assist them with your products and services.

Your customer’s future and how money management plays a role

You should keep in mind that your customer’s financial needs will change as they get older. Regardless of the industry you are a part of, this means that their buying habits will also change as they age. For this reason, make sure you are making changes to your buyer personas and establishing new needs and challenges for them as time progresses.
One reason these changes occur is because of the consumer’s ability to better manage their finances. Buying will look a lot different for those who are just starting out and learning how to budget than it will for those who are already established and have control of their budget.
If you truly want to help in this arena, one of the best ways to do so is to learn more about your customer’s financial situation and future. Gather data that directly correlates to this information, so you can make the best decisions for your business. Use this data to build a better relationship with your customers, so that you can develop a long-lasting bond with them.

How to deliver and measure an excellent consumer experience

While gathering data is critical, that does not ensure that your consumer experience will be a success. Luckily, there are several ways you can deliver and measure an excellent consumer experience. Start by always being aware of what’s going on in your industry.
For example, new trends show up all the time that completely change the way an entire industry works. Being a part of these new trends is one of the best ways to ensure you are delivering the best consumer experience possible.
You should also make sure you always have a strong grip on what your customer’s expectations are. Engage with your customers to determine what their needs are and how they hope that you can fulfill them.
Finally, make customer experience one of the prime things you focus on as a company. Over time, customer experience is only going to continue to rise in importance, so making it important to your company and employees will only benefit you going forward.
When it comes time to determine whether your strategy is a success, there are several ways you can measure your consumer excellence status. Probably the best way to learn this information is by asking your consumers themselves. Requesting feedback on every step of the process will help you determine what areas your company is succeeding in and what areas of the customer experience still need some attention.
You can also get great insight into the way your company functions by going through the process as a customer yourself. Seeing how the process works will help you learn how to streamline every part of the customer experience to make it work with your company goals and ideals.
Customer experience is quickly becoming one of the most important factors when it comes to consumers and marketing. Taking this information into account when you are developing your marketing strategy will only help to improve the customer experience your clients receive when working with you.

3 Successful Strategies for Content Marketing Financial Services to Millennials

Content marketing financial services to millennials is still in its infancy, as traditional finance companies embrace strategies that include a heavy focus on social media outreach and the introduction of bold new ways to offer their services. With that in mind, there are three strategies that financial companies can use to cater to millennials and win over this coveted audience.

Understand where millennials are going for their financial needs

Millennials enjoy doing business over the internet, which means that the traditional financial marketing strategy of face-to-face interaction is not effective with this group. And that helps explain the rising popularity of a new breed of financial technology companies that are disrupting the personal investment industry.

Known in slang terms as “fintech,” these new financial companies are using “robo-advisers” to replace human personal investment advisers, and these automated financial advisers are crunching numbers and feeding them into algorithms to determine where clients should invest their money. Fintech companies find most of their clients through social media and referrals. They eliminate a chunk of their operating costs by streamlining their business down to a phone number, an email for customer service and a blog where clients can obtain useful information.

Millennials are flocking to fintech companies for personal investment because they are more attracted to technology as a means of investing their money than they are about making a personal connection with a financial adviser. To compete, traditional personal investing companies will have to offer services that mimic what fintech is offering.

Add innovation to content marketing financial services

Traditional content marketing financial services companies are slow to change and fixated on things that have worked in the past even if those things are no longer effective. Millennials are not a traditional target audience, and because of that, they take interest in financial companies that offer bold new ideas.

Fintech companies understand this concept because they understand their target audience. They realize that millennials are not a group that needs their hands held with constant in-person interaction. Millennials want companies that do things differently, but with a purpose.

It is risky to offer financial services that eliminate 24/7 customer support and where most interaction between the service provider and the customer happens through email or on social media. But that type of convenience and hassle-free process is exactly what millennials want from their financial services.

Financial companies that want to grab their piece of the coveted millennial pie are going to have to begin thinking outside the box and offering new ideas about how financial services are offered.Because without a shift in the fundamental attitudes about how to sell financial services, many companies will miss out on attracting the lucrative millennial audience.

Focus on how millennials use financial services

Millennials want to use content marketing financial services to build wealth so that they can pursue their passions and invest in charitable organizations. They view money as a tool to better their life and the lives of others, so they do not respond to traditional personal investment sales pitches about retirement funds and disability insurance.

Millennials also want to be closely involved in investment decisions as opposed to the more hands-off approach their parents and grandparents had taken. They see financial service experts not as wise men whose every word is gospel, but rather as partners who can help them build their wealth. Millennials also prefer to invest in financial products that are simple and easy to understand, including term life insurance and Roth IRAs.

Part of the reason for this simplicity is that a lot of millennials are researching financial services and buying financial software that helps them understand exactly what products match their life goals. Financial service companies that treat millennials as partners instead of clients are going to have more success attracting this audience.

Relationships create results

Traditional financial service companies that want to reach millennials must be willing to throw out the old playbook. Instead, they should draw inspiration from the disruptive way that fintech companies are changing the personal investment game. It is really all about finding innovative ways to market to millennials, with a heavy focus on social media outreach and communication through email, Skype and Google Hangouts.

If you need help crafting an effective content marketing strategy that caters to millennials, please Contact us today.

3 ways content fits into your finance marketing strategy

It is no secret that content drives the digital marketing revolution. Storytelling emphasizes a pull instead of a push approach when engaging audiences.
Much of this has to do with how informative content offers an effective way to build relationships and nurture trust with potential customers, who grow increasingly tired of traditional advertising.
But for all the good that content marketing can do, not all sectors have embraced it with open arms.
Take financial services, for example. Since 2008, it has struggled to win back the trust and loyalty of consumers, particularly millennials. In fact, one study found that 30 percent of adults who were born between the early 1980s and mid-1990s do not trust financial institutions, while 43 percent could not really say how they felt about the sector.

Why finance struggles with content marketing

Compliance is perhaps the biggest question financial marketers have about content marketing. Due to self-regulation and government oversight, marketers must provide disclaimers when offering financial advice and market forecasts. Consequently, marketing teams shy away from financial content marketing.
But it is also true that in an industry evolving from face-to-face interactions to omnichannel engagement, finance companies, including banks and insurance providers, need something to effectively engage both existing and potential customers.
This is where content marketing comes in. Listed below are three strategies finance companies can use to establish their expertise and industry authority, building stronger relationships with their target audience.

Focus on building credibility

Banking, insurance, and finance are too complex for the average person to fully grasp, which is why mainstream consumers rely on expert counsel to break down these topics in a more digestible manner. But consumers first need to establish trust with an authority (whether an actual person, institution, or resource) to provide reliable advice.
Financial services brands can use this to their advantage by creating informative and authoritative content that establishes credibility, earning potential customers’ trust in the process. There are several ways to go about doing this:

  • Blogs for casual readers
  • White papers offering in-depth analysis on topics
  • TED Talk-style videos with expert speakers offering advice on investments, savings, or money management

This connects to the next point in this guide.

Educate and inform the audience

While traditional advertising has always been about getting people to buy a brand’s product or services, content marketing pulls the audience in by providing relevant and useful content that answers questions and even helps solve problems.
This approach of educating the audience is far more powerful than just entertaining them, with one study showing that 68 percent of consumers found informative and educational content as most valuable.
It is for this reason that most content marketers today focus on creating high-value, educational content that revolves around tutorials, tips, how-tos, and other data-driven information. Financial services companies are in an ideal position to take this approach as consumers genuinely want to learn more about different kinds of financial services, issues, and problems.

Take advantage of multimedia

While written copy is a tried and tested medium for any content marketer, it is notthe only channel to use. In fact, several studies point to the effectiveness of visual and multimedia content, with infographics being 54 percent more engaging than regular blog posts.
Video content gets even better engagement, as shown by the following statistics:

Blog posts are not the only medium content marketers have at their disposal. There are several other ways to go about creating content to make them more marketable to audiences.

In summary

Successful finance marketers know that today’s consumers are no longer interested in driving to and from brick-and-mortar offices to talk about investment options, financial issues, and other services. Future clients want to do it all online, and they are willing to dig for information on their own.
Content plays a critical role in this process, helping consumers determine whether or not a financial services provider is worth engaging. Bottom line? Risk-averse finance brands jeopardize future business when they ignore the potential of content marketing.

How finance companies can achieve better search engine rankings

Being the top in search engine rankings is a highly important factor when it comes to marketing. This is because only 8.5 percent of online users click on the second page of Google or other search engines. Therefore, it is essential to know how long it should take to rank higher on the search engines. And what steps can companies take to ensure they ascend quickly?

The length of time it takes to rank high on Google

Search engine optimization, or SEO, is the process of acquiring traffic from organic, natural or editorial search results on search engines like Google and Bing. Companies, developers and marketers spend a great deal of time making sure their pages rank high on Google’s first page of search results. However, this doesn’t happen overnight. Even after a website earns Google’s trust, it can still take up to six months to rank on top of the search engine’s first page. There are several reasons why some websites soar to the top of rankings while others seem mired in the mud. A company that has good, usable and up-to-date content paired with a strong title remains the most powerful relevance signal to Google. It also helps if the company has the essential terms and phrases that are used on a web page.
If a finance company has a low quality website or content that hasn’t been updated, it may take it longer to rise to the top. If a company’s site has been penalized in the past because of duplicate content, links from sites in another language, excessive reciprocal links or any number of algorithmic penalties, they must submit a reconsideration request to re-establish themselves in search rankings.

The steps a finance company can take to rise faster in search results

Competitors are not standing still when marketing their sites. Therefore, a company or other business need not only to match their online marketing efforts, but surpass them. A persistent, relentless plan to improve a finance company’s ranking is imperative.

  • Google’s top tip for rising faster in search engine results is keyword phrases, or the words users are most likely to type into a search engine to find the desired result. A company’s essential keyword phrases should appear in the first paragraph of content on a company site.
  • How often a keyword appears – known as keyword density – is also important. But, companies shouldn’t try tricking a search engine by using the same word repeatedly because it doesn’t work and the search engine may ban the website. A strong opening paragraph that plainly states what the page is about will help search engines find the company page.
  • An “untitled” link won’t receive clicks, so using a page’s keyword phrase in the title is an essential step. For example, if a finance company sells annuities, then annuities should be in the title.
  • Pay attention to links, both to and from a company’s website. Google looks at the words a company uses to determine the content of a company page. One way to improve page rank is to exchange links with other relevant sites. A company does not feel a standard number of links per page. However, most marketers will agree links should appear naturally rather than appear stacked.
  • Content on social networks should match a company’s brand and style. Although social networking’s effect on ranking is unclear, images and terrific content on social networks can help.
  • Making graphics search friendly on computers and mobile devices is vital. Give images attributes, which offer the opportunity to place relevant keywords where Google sees them. Making content mobile-friendly makes a good user experience and will help a website rank higher.

Steps to take when a finance company’s site isn’t rising fast enough

There are several reasons why websites don’t rise as quickly as desired. A finance company may depend on flash animation – rather than just great content – on their homepage. A company’s landing page that has no keyword phrases in the first paragraph of copy won’t rank as high. A company may also experience low rankings if it doesn’t produce text that can be indexed or is embedding text inside flash content.
If a finance company depends on photos or images to attract visitors or is heavily dependent on JavaScript, search engines may not be able to determine what the site is all about. For a search engine to know the details about a company’s products or services, they must produce quality content. If no other site links to a company’s website, Google or another search engine may not bother to index the site.
In conclusion, ranking high on Google’s first page doesn’t matter if a company is targeting the wrong audience. It doesn’t matter if a company gets the right audience if they can’t convert the audience into customers. The best way for a company to serve their audience is by creating unique and valuable content. They can also serve their audience by devising a branding and customer-centric campaign.
Tempesta Media delivers expert content and provides a full-service solution for finance companies, agencies, tech companies, and business-to-business companies. Tempesta Media values honesty and clarity. They are direct, trustworthy partners and consultants who help businesses grow and prosper by providing expert content marketing and results that matter. Tempesta Media will help finance companies rank faster and stay on the first page of search engine rankings.

How to make your financial content thrilling and entertaining

Let’s face it: most financial content puts readers to sleep.
Unfortunately, one of the adages about effective content is that it can never be boring. It must always provide readers with value.
Simply put, valuable content answers a question for a reader, fulfills a want or need, or solves a problem.
And it does all that while it entertains, engages, and elicits emotion from that reader.
Companies struggling to create lively financial content can employ three strategies to generate increased interest. All the while, they can help to brand their businesses as authoritative and credible.

Make it personal

Readers respond to content that feels like it is relating directly to their wants and needs and attempting to solve their problems.
And that is especially true when it comes to writing financial content. Most adults are concerned with important issues such as saving for the future, paying for their kids’ education, and saving for retirement.
These are financial issues that will make an impact on their lives now and in the future. Companies that create content in this arena must appeal to their readers’ emotions.
One powerful way to do that is to paint a picture of a negative situation that could occur if they don’t take action.
For example, a company could write an article titled, ‘Do you want to live with your kids when you’re 70 and ruin their financial future?’
The headline asks a question with a negative consequence. The body of that article would appeal to the emotion of adults with children. These adults know they should be saving money now to avoid becoming a burden to their kids in the future.
But that article is not just emotional – it is personal. It drives at the heart of a common worry that many parents have, and then, of course, it provides solutions.
That is why emotion is such a powerful tool in financial content writing. The content can begin by eliciting negative feelings, and then turn those feelings positive by offering solutions.

Use visuals

Another way to write engaging financial content is to remember that big blocks of text are a killer when it comes to keeping a reader’s interest.
In the old days, newspapers were one vast block of paragraphs in black and white that seemed to go on forever.
But in the digital age, all content benefits from the use of attractive visuals, including pictures, graphs, and especially infographics.
Infographics include images, charts, and illustrations. They are an effective alternative to text for explaining financial concepts.
Multiple studies have found that readers naturally gravitate to visual content. This is because 50 percent of brainpower is focused on visual processing, and 70 percent of a human’s sensory receptors are located in the eyes.
As a result, people make visual associations instantly, and they also tend to assign more credibility to text that is accompanied by visuals.
Suppose that a financial company wanted to write a blog piece about the value of saving money.
Instead of using statistics about the benefits of saving, the company could post an infographic. This infographic could outline number of items that a single dollar could buy, including:

  • A bottled water
  • A newspaper
  • A cup of premium roast coffee
  • A can of vegetables
  • A bottle of anti-bacterial hand sanitizer

The idea is that saving even one dollar a day is important. By providing visual information to back up that idea, the post resonates in a way that is clear and easy to understand.

Target your audience

Financial content is not homogeneous, which means that different segments of the industry appeal to different types of audiences.
So it is essential for companies that create financial content to properly target their audience. In doing so, they will understand that audience’s problems, wants, needs, and desires.
For example, a company that offers credit cards to people with low credit scores will target a different audience than a company that offers financial services to the wealthy.
Both involve financial issues, but the content these companies create must appeal to the specific needs of the audience most likely to respond to what they are offering.
When companies properly target their audiences, the content they create is specific, actionable, and valuable.
By that standard, the content will also be engaging because it responds to the issues that the audience finds most important in their lives.

Content is a powerful tool

When delivered in a way that is visual, personalized, and targeted, content can be a powerful tool in a financial company’s marketing arsenal. The key thing to remember is that every piece of content a company creates must solve a problem for a reader, fulfill a long-held desire, or answer a question that improves that reader’s life.
Content delivered under those standards will create increased engagement and help convert prospects into customers. To learn how Tempesta Media can help you create quality content, please contact us today.

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