2 Tips for Banks Investing in Content Marketing
Even financial institutions whose leaders recognize the need for content marketing can still get it wrong — housing the content only on the bank site and leaving it filled with jargon that consumers, at worst, may not understand and, at best, may not want to read.
That’s because bank customers are changing — getting much younger and used to brands understanding them, rather than them having to learn a whole new language in order to invest their money, says Skyword’s weekly newsletter ContentStandard.
In the post, “Why Financial Services Brands Need Content Marketing Now More Than Ever,” Krystal Overmyer writes on Jan. 12 that Baby Boomers are passing away and bequeathing their estates to Gen X and Millennial children.
Financial services marketers, she says, are generally bad at communicating with non-Boomers.
Here’s how these marketers can communicate with their new clients:
Don’t lead with the rates, lead with how investments can solve their problems — whether they’re Millennial parents, Gen X homeowners or some other combination, Overmyer says.
Hire content marketers who speak the consumer’s language, agree Overmyer and John von Brachel, SVP of content marketing, Bank of America.
He hires former journalists, because they really know how to tell a story, he said at Content Marketing World in Cleveland in September 2016.
Going back to Overmyer’s post, that Millennial with the windfall starts where when deciding how to invest? She guesses Google.
But it’s also entirely believable that the young potential investor would first turn to family and friends for advice — on social media. But what if the investor saw a video there that really spoke her language and made her laugh?
Overmyer says financial services marketers should have content visible in searches, on social and via video. Target Marketing suggests extending that to all channels, especially email.
“She wants to do something prudent with the money,” Overmyer says, “but she’s not sure what. Should she plan for retirement? Park the funds with a wealth management firm? Buy a house? The options are endless. And like many a Millennial before her facing a decision, the first action item is an Internet search. The problem? Major financial services companies aren’t putting relevant content out there, and what she finds doesn’t seem to meet her needs.”
What do you think, marketers? Are you meeting the content marketing needs of the younger wave of consumers?
Please respond in the comments section below.