Content marketing: Finserv marketers are more savvy than people think
Time and time again, people in financial services hear that they are behind the times when it comes to digital marketing, particularly content curating and social media. However, this hardly seems to be the case and maybe it’s time to give credit where credit is due.
A lengthy post from Rock the Boat Marketing pointed out that many websites make sweeping generalizations about an industry that is more forward-thinking than outsiders tend to realize. Financial services is not deeply behind in the digital marketing sphere. A report from Martini Media cited by the Financial Brand noted that 40 percent of financial marketer’s budgets were devoted to digital in 2013. Most financial marketers focused the majority of the money they allocate for Internet marketing to mobile, followed closely by social media and online video.
While financial services firms are certainly burdened by regulations, many companies are simply becoming more nimble in the way they approach content marketing. When it comes down to it, financial services marketers often face the same roadblocks as marketers in other industries. An e-book from Marketo noted that some of the top concerns in the financial marketing sphere are inability to prove return on investment, issues with senior management and lack of experience with new platforms. Regulatory issues are hardly the only concern, although they are a significant one. Financial services marketers confront unique challenges when it comes to the regulatory environment, but they’re a creative bunch, and they are making strides in the world of content marketing.
Financial services gets creative
An article in Advertising Week pointed out that financials services firms are more savvy than most people think when it comes to digital marketing strategies. For instance, a recent survey from IMN found that financial services firms often have intricate approaches to content marketing. Marketers in this industry were more likely than their peers to have separate content marketing strategies for each channel. In this industry, gaining customer trust is one of the highest priorities, and sharing content is the key way to achieve this. Affluent consumers are often keyed into publications like The Wall Street Journal for thought leadership in the financial sphere. These journals typically rely on industry insiders to make sense of the market. Increasingly, financial services firms are putting together their own materials to reach customers.
That being said, most companies could stand to amp up their content marketing. Some firms may still be behind the curve, and many could use some ideas. An article from the Content Marketing Institute provides a few examples of firms that are doing a great job with content. These companies are using a combination of different approaches to reach customers, including creating financial news sites that are separate from their company websites and blogs that tackle complex subject matters in an engaging voice. Others are developing videos, infographics and podcasts to educate customers on financial matters.
An important step companies can take toward improving content marketing initiatives is to invest in document automation, which can free up valuable time and allow marketing professionals to focus on being creative.
What do you think about content marketing in financial services? Tweet it to @synthesistech.Here are some related resources that might interest you:
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