Why Do Fintech Brands Need Content Marketing?
The Fintech industry is booming, and it’s not going anywhere any time soon. With the sector currently worth an approximate $4.7 trillion, even traditional banks have admitted that collaboration is in order with AI technology in order to survive the next decade.
Yet, there are still big challenges surrounding public trust, credibility and authority.
Despite open banking reforms, scandals of the past continue to sway the public perception. Less than half of the population report that they trust cryptocurrency, for example, which is a huge barrier to building expert or go-to status for your brand.
Why is content marketing important?
Because it solves all of these issues and more.
What is Fintech Content Marketing?
Content marketing is the strategic distribution of blogs, articles, infographics, videos, white papers and more in order to attract, convert and retain customers.
Your content should have one of three purposes:
Value-driven educational content
2. Content to inspire connection
3. Promotional content
Pro tip: promotional content should only make up about 10% of all of your published materials!
At The Search Cure, we focus on written content optimised for Google search.
Google is by-far the most popular global search engine, and it’s where people go to find answers to their financial problems. Yet, 37% of us can’t find the answers to our financial queries online: there’s just not enough good content out there.
Now, it’s important to note that even the best content doesn’t simply convert customers overnight. But if you can provide value or connect with cold prospects, you’ll begin to gain their trust. It takes an average of 7 interactions before a buyer is ready to commit, anyway.
The trick is to keep chipping away, providing educational content and helping your reader in order to slowly build up a consumer relationship. Content in fintech is a passive marketing strategy, but 96% of the largest fintech companies believe in consistently putting it out there.
It’s been responsible for business growth time and time again. For example, Revolut used content in order to solve the problem of their customers, and grew its base from 150k to 8 million in under 3 years.
The final benefit of content marketing in fintech is that customers who view your content are much more likely to be further down the sales funnel. This means they are closer to conversion, driving down Customer Acquisition Cost (CAC) and increasing profits.
Trust
The lack of trust between consumers and financial institutions has been a compelling issue for decades. The industry has been plagued by scandal after scandal, with a complete lack of transparency contributing to the adverse attitudes felt by the public.
Fintech brands can overcome this skepticism with content that services to increase the transparency between consumer and industry. Content is almost viewed as an olive branch when it provides an insight into the inner workings of a company.
For example, payments company Pomelo Pay has a number of educational blogs about what the different types of payment methods are, and how QR codes will be used in future hospitality trade. This is useful to the consumer, as it paints a picture of how their product relates to the wider community while also providing technical insight.
Furthermore, 61% of people believe that the pace of technology is too fast to keep up with. Luckily, good content seeks to educate your customers about the technology behind your products. It breaks down the fast-pace of fintech industry change and lifts a lid on the automation aspect that can be so confusing.
Authority
Social proof is one of the best ways to position your brand as the go-to choice.
PR relationships are also important during this phase of your company content strategy; since social listening is such a popular tool.
So, building a reputation for being a credible fintech brand is the key to customer referrals and authority within the sector. In fact, authority could be one of the top challenges preventing a new company becoming the go-to, within their industry.
How does content marketing overcome this challenge?
Good quality content enables your brand to talk directly to the audience. It helps to position you as the expert within your niche and means that ideal clients come to you. Furthermore, content marketing receives social shares, likes and views. This valuable social proof comes with it’s own benefit: increased brand awareness. In this way, content marketing assets double in their importance.
Education
Finally, education seeks to balance the disconnect between your high-tech product, and the masses of audience members who don’t yet understand it. There is so much potential out there for Fintech boom, but right now, most of the public are not tuning in.
Content marketing allows your company to educate and inform your ideal reader. It means you can share the value and solve problems. Nowadays, it’s super common for brands to list that they’re making a ‘real world impact’- but it’s content marketing that allows you to take your chance.
If you’re looking to set up your content marketing game, now is the time to take action. Drop us an email at hello (at) thesearchcure.com or leave us a message here.