With customers having more options than ever to choose from, many financial technology businesses are struggling to stand out and make themselves visible to their target market. In this day and age, it is important now more than ever to position your financial technology business and figure out where its services fit into the lives of your customers. You have to make them know and understand exactly who you are, what makes you different from the others, and how your financial technology business can help solve their problems. Clearly communicating your brand, the personality of your financial technology business, and improving customer engagement are necessary focus points for your business to grow, reach, and retain more clients. One of the best ways to do this is through effective content marketing.
What is Content Marketing?
According to Content Marketing Institute, content marketing is defined as a marketing approach where you create and distribute valuable and consistent content to attract and retain a clearly defined target market — and drive profitable customer action. Content marketing can be in the forms of blogs, infographics, email marketing, social media marketing, videos, eBooks, lead magnets, webinars, quizzes, and much more. The content is often free, either informative or entertaining, and—while it addresses a relevant issue or concern of your target audience—it also supports your business goal/s. Content marketing will help your financial technology business reach more prospects and customers, increase brand awareness, drive traffic to landing pages, and increase revenue.
Here are some of the most common and effective content marketing strategies, channels and tools that your financial technology business can utilize.
Tips for Effective Content Marketing
- Building a customer persona and a JTBD Framework
You have to remember to keep the customer at the center of not only your marketing strategy but your business overall. Your financial technology business exists to address their financial needs and problems. Your content has to be relevant to your customers. It should address their problems by positioning your business and your financial services as solutions for it. To be able to make such kind of content, you must first get to know your customers very well. You must have a very detailed picture and understanding of your target customers and the problems they face. This can be done by first, creating a customer persona.
Here is a sample template of a customer persona taken from Mint Studios:
Knowing your customer’s basic information, demographics and activities are important. However, because you want to specifically address their problems through content marketing, it is important for you to have a breakdown of your customer’s problems. By truly getting to know and understand the challenges and struggles your customers are facing, you can better formulate and create content that would be truly relevant and useful to your target market. You can do this with the JTBD or Jobs to Be Done Framework. This framework will allow you to specifically drill into identifying the needs of your customers– or the job needed to be done– and how your product or services can fulfill them.
An example of utilizing the JTBD framework would be filling out this sentence: “Jimmy hires [insert your product name] to fix [list down customer’s problems that your product can address]”. Every time you make content, it needs to address at least one of these problems you have listed so that it would be truly useful for your customers and you can relate it or bring your products or services into the picture.
You must also keep in mind that your customers are constantly evolving and changing. So it is important to regularly conduct customer research and constantly refine your customer persona and Jobs to Be Done Framework.
- Characteristics of good content
Mint Studios states that content should possess any one of the following traits: actionable, have a strong opinion, or proven to some degree. This is so that when customers come across and consume your content, they would either: do something, learn something, or feel something.
- Content Distribution and Format
Once you have identified and have a clear understanding of who your target customers are and what kind of content they would find relevant and engage with, let us now look at some of the different channels and platforms you can utilize to distribute your content.
- Social media
Social media is very accessible and highly used by a majority of people. You can reach a wider audience at a shorter period of time through this platform as opposed to traditional mediums such as television, print and radio. Using your customer persona and JTBD framework, you can identify what social media platforms in particular your target market uses and create personalized content for each platform. Each platform has its own nuances and strengths so it is important to put that into consideration when creating your content. Facebook works differently from Twitter, Instagram, TikTok, Youtube, Reddit, Snap, etc. You have to adapt your content to each platform while also taking note of what your customers do, what they like to look at, and the time they use each of those platforms.
- Blog site
Digital Authority Partners stated that financial technology companies that blog have 97% more inbound links and 70% of people would rather learn about a company through articles rather than advertisements. Having a blog site for your financial technology business is going to help boost your brand awareness and customer engagement.
- Financial Webinars or Classes
A report states that 35% of millennials have enrolled in a financial class or seminar, ⅔ of millennials want digital budgeting tools from their financial services provider, and only 28% of millennials have a good understanding of how to invest their money. Now this is where your fintech business can step in. You can create valuable content for your financial technology business by addressing this and conducting, for example, free webinars or classes that talk about important financial topics.
- Social Media Influencers
Social media is a very powerful and influential platform. It is observed that 49% of consumers depend on influencer recommendations. This is why a lot of businesses partner with social media influencers to promote their products and services in the influencer’s content. Though it is often thought to best partner with large influencers, you may also consider partnering with micro influencers (those with about 100-500,000 followers). Not only are micro influencers relatively more affordable but they also tend to have more engaged followers than those with a larger following (those with millions of followers).
Building brand awareness and connecting with your target audience at a deeper, more personal level are crucial elements for financial technology business given the heavily saturated market. Employing content marketing strategies that clearly communicate your brand and its uniqueness, meet where the customers are, and address their problems are essential to increase revenue, retain your customer base, build value, and help your fintech business grow in the long run.
If you want more advice on content marketing for your FinTech business, or for more insights for your company in general, schedule a FREE 20-min. consultation with Ambidextr today in our Calendly link:
Visual by: Jamica Dy Juanco