Leveraging Content Marketing in the Fintech Industry

By Karthik Hariharan

The world of finance is often seen as complex and therefore boring, and traditional marketing methods have done little to dispel this perception. The reason why the financial world is perceived as “uncool” is not the lack of new channels or methods to reach new customers, but marketers who do not maximize the full potential of these channels.

Modern consumers have evolved in the way they use brand marketing; they are much more aware, knowledgeable and know what they want. This is due to their active presence on social media platforms and the high assimilation of information served online. Therefore, relying on orthodox solutions to modern problems is unlikely to produce desired results.

Marketers venture beyond conventional marketing objectives to achieve high resonance, reception and relatability with consumers. The key to achieving this lies in harnessing the power of content marketing.

Pillars of content marketing for Fintech

Trust is integral to financial services, especially in FinTech where technology is rapidly replacing the human touch. Gen Z and millennials are the dominant consumer base that dictates market trends. Winning their trust is not easy, and traditional marketing has shown limited influence with these digital-first consumers.

Surveys show that 74% of consumers feel bombarded by ads, and 63% admit to using ad blockers online. In fact, 99% of Gen Z consumers would click “Skip Ad” if there was an option. What’s more useful to know is that young consumers actively research products before making a purchase decision, and 85% have done research on a brand they’ve bought from. And one of the most researched topics is “how to use a product.”

Remember, millennials and Gen Z have seen the aftermath of the 2008 financial crisis and the more recent pandemic-led economic uncertainty. They are highly motivated to avoid making the same financial mistakes as previous generations and are open to learning from fintech providers.

To build trust in your fintech brand, content marketing efforts should be based on 3 pillars: Educate, Empower and Equip.

Educate

With people increasingly looking for answers related to personal finance and smart investing, providing valuable, informative yet compelling content becomes a great way to engage them. However, remember to keep the content exciting and engaging without compromising the quality of the education offered. Reach out across multiple channels using snackable content in various formats.

For example, the same how-to/DIY blog post can be turned into a video, list or infographic to connect with your target audience across LinkedIn, Instagram, YouTube and more. Ultimately, it will be the quality of your educational content, rather than the quantity, that builds trust and keeps your audience coming back for more.

The most effective content highlights the current pain points of customers and anticipates the ones they are unaware of. Address these through content by describing how your FinTech offering solves these pain points.

Strength and equipment

The need of the hour is to offer timely information that will enable customers to make informed decisions. For example, you can publish relevant, timely content that informs customers about important provisions in the annual budget. The content may seek to explain critical concepts and how these can affect the lives of customers. But remember to keep the language simple, and translate complex concepts into easy-to-understand terms for people of all levels of financial literacy.

In addition to providing customers with the right information at the right time, you can also equip them with the tools to make the right decisions. These can range from plug-ins and mobile apps to built-in features on the company’s website. For example, an EMI calculator can help the customer calculate how much they have to pay every month as EMI, based on the information you have already given them. This holistically prepares customers to take control of their finances and build a trusted relationship with the brand.

Use content to establish brand ethos

Fintech rarely has the luxury of a long-standing brand name to fall back on, unlike traditional financial institutions. At the same time, it is an intense competitive arena, where new disruptors try to make their mark every day. This is where regularly producing high-quality content can establish you as a credible and reliable thought leader.

Whether you’re providing industry news or educating clients on personal financial planning for a secure future, make sure your information is accurate, contextual and timely. Use your content to build your brand’s voice as someone who understands the consumer and is actually one of them, rather than someone looking in from the outside trying to offer solutions.

Ultimately, your brand image is the sum of the impressions your customers have about you based on the interactions they have shared with your company and your products. This highlights the importance of creating consistent messaging across channels to present a unified brand, one that customers can trust to have trusted interactions with.

The bottom line

Financial companies should use content to drive financial literacy, enable and equip customers with the right tools to live a financially sustainable and healthy lifestyle. Building a long-term content marketing strategy can do wonders for building customer relevance, achieving brand advocacy, and maximizing customer lifetime value.

The author is Head of Marketing, axio (formerly Capital Float)

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