Is content marketing just another buzzword in financial sector digital marketing circles, or is it the real deal? Spoiler alert: it's not just hype.
Whether you're a big bank, a solo financial advisor, or a fintech startup, content marketing could be your ace in the hole—if you play your cards right.
But here's the thing—how do you figure out if it's worth your time and resources?
The trick is to figure out if it's right for your sales motion, run content marketing with the right framework, and measure if it's actually moving the needle.
In this article, I'll break down content marketing for financial services, without the marketing jargon. I'll show you real examples that work, explain why they work, and give you the lowdown on making content marketing your financial institution's secret weapon.
But first, let's look at what content marketing is and why it's relevant for financial companies.
Table of Contents (click to navigate)
The Power of Content Marketing for Financial Services Firms: Unlocking Growth and Trust
Building Your Content Engine: A Framework for Financial Institutions
Examples of Memorable Financial Services Content Marketing
Common Content Marketing Mistakes to Avoid for Financial Services Companies
Content Marketing Mistake #2 -Not Showcasing Internal Expertise
Content Marketing Mistake #3 -Prioritizing Quantity Over Quality
Content Marketing Mistake #4 - Watering Down Brand in the Name of Compliance
Content Marketing Mistake #5 - Sticking to One Form of Content
Content Marketing Mistake #6 - Mistaking Content Strategy for Output
Content Marketing Mistake #7 - Mistaking Marketing for Sales
Understanding Content Marketing in Financial Services
Content marketing is a strategic approach to creating and distributing valuable, relevant, and consistent content to attract and retain a clearly defined audience—and ultimately, to drive revenue.
Content marketing is NOT about just writing and churning out blog posts for the sake of it. Content marketing and content writing/creation are very different things.
For financial institutions and fintech firms, it's about producing information that your clients and prospects want to consume, positioning your brand as a trusted advisor in the process.
Does Content Marketing Make Financial Cents?
When it comes to digital marketing strategies, financial institutions face a choice—invest in paid advertising or embrace content marketing. It's a bit like choosing between day trading and long-term investing.
Paid ads are like day trading—you will see quick results when done well, but you're always active, and your gains disappear the moment you stop. Content marketing is like building a diversified, long-term portfolio.
It requires patience and consistent effort, but over time, it can yield compounding returns and provide value even when you're not actively managing it.
But costs are just one side of the ROI equation.
Content marketing not only costs less but generates more leads than paid ads. A 2023 study by Demand Metric found that content marketing costs 62% less than traditional marketing and generates about 3 times as many leads.
Content marketing is a great long-term decision—but it takes a while to bear fruit. Paid ads give you results quickly, but take much more effort in the long run.
How Content Marketing Fits into Your Digital Strategy
Here's the deal—content marketing isn't about throwing your paid ads out the window and betting the farm on blog posts. It's about creating a smart, well-rounded digital strategy that uses both to pack a punch.
It's like having a diversified investment portfolio—you wouldn't put all your money in one stock, right?
Content marketing spices up your online presence, gives your social media some real meat, and makes your email campaigns worth opening. When you whip up a killer piece of content you're creating a Swiss Army knife of marketing that can be sliced and diced for use across all your channels, spreading your message far and wide.
But here's where it gets really interesting—good content makes your paid campaigns work even harder. Here's an example.
This tag-team approach of content and paid ads doesn't just boost your ROI—it builds a rock-solid brand that stands out in the noisy world of fintech and financial services.
The Power of Content Marketing for Financial Services Firms: Unlocking Growth and Trust
Let's talk about why content marketing is a game-changer for financial firms. If you're a bank, fintech, or any other financial institution, content marketing isn't just a nice addition to your strategy—it's your secret weapon for growth.
In an industry where trust is everything, content marketing allows you to educate, engage, and build lasting relationships.
Here are a few benefits of content marketing for your financial services firm:
Differentiates your financial brand
Reduces customer acquisition costs
Speeds up prospect conversions
Acts as your financial services client qualifier
Acts as a trust-building tool
Let's look at these one by one.
1. Content Marketing Differentiates Your Financial Brand
Financial services is a crowded sector. A solid content marketing strategy will help your firm shine.
Content marketing lets you become the go-to source for timely, relevant information.
Market volatility? You've got an expert analysis ready.
New fintech regulations? Your breakdown is already trending.
By addressing real issues in real-time, you're not just another financial institution—you're a valuable resource to your audience.
But content marketing in financial services doesn't stop at blog posts. Think bite-sized social media updates, comprehensive whitepapers, or even engaging podcasts. It's all about creating a diverse content strategy that caters to different preferences.
The result? Serious brand recall.
When your audience faces a financial challenge or opportunity, they'll remember the firm that's been consistently providing valuable content across various channels. That's the power of an effective content marketing strategy for financial institutions.
2. Content Marketing Reduces Customer Acquisition Costs
Content marketing is the gift that keeps on giving. Unlike paid ads that vanish the moment you stop funding them, quality content sticks around.
That blog post you wrote last year? It's still out there, attracting leads while you sleep.
Think of it this way:
Paid ads are like renting a billboard. Once you stop paying, your message disappears.
Content marketing is like owning the billboard. You pay once to create it, and it keeps working for you.
The result? Over time, your cost per lead has the potential to drop dramatically.
Here's an example using a keyword a fintech firm might be interested in showing up for in a Google search:
Keyword: expense management software
Search volume per month: 1,600
Here’s some data about this keyword and click-related data based on industry research:
Cost per click: $16
Percentage of clicks the first ad receives each month: 2.1%
Total number of clicks on the ad in a month: Search volume per month x (2) = 33
Cost of ad per month: (3) x (1) = $528
Ad conversion rate: 4.4% (based on industry research linked above)
People converting through the ad each month: (3) x (5) = 1
Here’s all of the above data visually represented.
Now, what if we created an article that ranks first in search results instead?
Here’s some data relevant to first position results and what our article’s financial position looks like:
Percentage of clicks the first organic result receives: 39%
Total number of clicks on the result each month: Search volume per month x (1) = 624
Cost of organic content: $1,500 (based on writing and distribution costs)
Here’s what conversions would look like:
Organic content conversion rate: 0.2% (this is the lowest benchmark in the industry)
People converting through the organic result: (2) x (4) = 1
What does all this mean in terms of revenue and ROI? Here’s a breakdown:
Average contract value: $10,000 (assuming an arbitrary value)
Revenue over 1 year from ad: People converting from the ad x (1) x 12 = $120,000
Revenue over 1 year from content: People converting from the organic result x (1) x 12 = $120,000
Ad spend over 1 year: Cost of ads per month x 12 = $6,336
Organic content spend over 1 year: (Cost of organic content + 2500) = $4,000 (assuming additional expenses to distribute content throughout the year)
ROI of ad: (2) / (4) = 19X
ROI of content: (3) / (5) = 30X
If your head’s spinning reading these tables, here’s a handy visual representation of the ROI of content marketing.
3. Content Marketing Speeds up Prospect Conversions
Your content acts as a 24/7 brand ambassador. It educates prospects about your company's offerings, addresses common questions, and showcases your expertise in the financial sector—all before they even consider reaching out.
By the time a potential client contacts your team, they're not starting from scratch. They've consumed your blog posts, watched your explainer videos on banking products, or downloaded your whitepapers on market trends.
This means they're further along in their decision-making process and more qualified.
The result? Your sales team spends less time explaining basics and more time addressing specific needs and closing deals. It's like giving your sales process a turbo boost.
4. Content Marketing is Your Financial Services Client Qualifier
Not all leads are created equal. Content marketing helps you attract the right ones.
By creating targeted content that addresses specific needs and pain points, you're putting up a "welcome" sign for your ideal customers. Whether it's a blog post about expense management for small business owners or a whitepaper on navigating complex regulations, your content speaks directly to the clients you want to reach.
This targeted approach means prospects are more likely to self-select. By the time they reach out to your sales team, they're not just warm leads—they're practically boiling.
The result? Your sales team spends less time qualifying leads and more time having meaningful conversations about how your services can meet their needs. It's like having a pre-screening process that works around the clock.
Take the example below. Both articles are about invoice factoring, but notice how the second one actively screens in the company’s ideal customer—an owner operator looking for financing solutions.
Content marketing doesn't just fill your pipeline—it refines it.
5. Content Marketing is Finance's Trust-Building Tool
In financial services, trust isn't just important—it's everything. This is where content marketing becomes your secret weapon.
Consistent, valuable content showcases your expertise. When you regularly publish insightful market analyses, helpful financial planning tips, or clear explanations of complex financial products, you're demonstrating your knowledge and capability. You're not just saying you're an expert; you're proving it.
Secondly, content marketing allows you to show the human side of your financial institution.
Behind-the-scenes glimpses, employee spotlights, or stories of how you've helped clients achieve their financial goals all help to humanize your brand.
Take fintech unicorn Ramp, for example.
In a sector often perceived as cold and impersonal, this human touch can make a world of difference.
Lastly, content marketing opens up a two-way conversation. Whether it's through social media interactions or responses to your email newsletters, you're creating opportunities for dialogue.
This engagement helps build relationships and shows that you're listening to your audience.
Remember, in financial services, trust isn't built overnight. Content marketing provides the perfect platform for this long-term trust-building process, turning skeptical prospects into loyal clients who see you as a trusted partner.
Building Your Content Engine: A Framework for Financial Institutions
You're sold on the power of content marketing for your financial institution. Great! But now comes the million-dollar question—how do you actually make it happen?
Implementing a content marketing strategy in the complex world of financial services isn't like flipping a switch. It's more like building a high-performance engine—it requires careful planning, the right parts, and expert assembly.
In this section, I'll lay out a practical framework to help you build your content marketing machine. Here are the steps in this process:
Zero in on the most valuable customers
Talk to your customers
Discover where your customers hang out
Create content
Measure effectiveness and reiterate
Let's dive in.
Step 1: Identify Your Ideal Clients
It's often true that 80% of your revenue comes from 20% of your customers. These are your VIPs, and they should be the North Star of your content strategy.
You want to target prospects similar to these VIPs.
Why focus on these select few instead of casting a wide net? Because targeted content is powerful content:
It naturally screens in your ideal customers, as they'll resonate more with your specialized content.
It makes your sales process smoother. When prospects reach out, they're already well-aligned with your offerings, making conversations more productive.
Remember, in marketing, whether analog or digital, trying to appeal to everyone often means appealing to no one.
By zeroing in on your ideal clients, you're setting the stage for a more effective, efficient content strategy that attracts the right kind of attention.
Step 2: Get to Know Them Inside Out
Now that you've identified your ideal clients, it's time to dive deep into their world. The best way to create content that resonates is to actually talk to these customers.
If you can, set up interviews or casual chats with your top clients. Can't get direct access? No problem. There are plenty of other ways to gather insights:
Listen to sales call recordings: They're goldmines of information about customer pain points and objections.
Review customer success questions: What issues do clients face after becoming customers?
Check out frequently asked questions on social media and industry forums: What's keeping your potential clients up at night?
But don't stop at surface-level information like job titles or company sizes. Dig deeper:
What challenges do they face in their buying journey?
What objections did they have before choosing your services?
How were these addressed?
Which features of your product or service excite them the most? Why?
How do they use your offerings in their day-to-day tasks?
Remember, the goal here isn't just to gather data—it's to build a vivid, multidimensional picture of your ideal customer. This insight will be the secret sauce that makes your content stand out in a crowded financial services marketplace.
Step 3: Discover Where They Hang Out
Now that you know who your ideal customers are and what makes them tick, it's time to find out where they spend their time. This step is crucial because it informs not just where you'll distribute your content, but also what type of content you should create.
Don't fall into the trap of assuming one channel is best just because it's trendy or because a marketing guru said so. Your audience is unique, and their preferences might surprise you.
Here's how to figure it out:
Ask your existing clients directly about their preferred information sources.
Check your website analytics to see where your traffic is coming from.
Look at engagement rates across your current social media platforms.
Survey your sales team about where they're finding leads.
You might discover that your ideal customers are:
Searching for how-to videos on YouTube
Reading in-depth articles in industry journals
Engaging in discussions in LinkedIn
Tuning into podcasts during their commute
Attending webinars or virtual conferences
The key is to let your findings guide your content strategy. If you find that your audience loves video content, then it might be time to prioritize creating explainer videos or hosting live Q&A sessions.
If they're avid readers of industry publications, focus on producing well-researched white papers or contributing guest articles to these outlets.
Remember, it's not about being everywhere; it's about being where your ideal customers are, with the type of content they prefer. This targeted approach ensures that your content marketing efforts are efficient, effective, and reach the right eyes and ears.
Step 4 - Make Your Content Memorable
Creating content isn't just about churning out blog posts or producing videos. In the competitive world of financial services marketing, your content needs to be memorable to make an impact.
So how do you make sure your content is memorable?
Start by understanding your user's intent. Why are they seeking out this information? What problem are they trying to solve? This insight is crucial for your content marketing strategy.
Next, focus on differentiation. Take a good look at what your competitors are putting out there. Where are the gaps? This is where your content marketing analytics can come in handy, helping you identify opportunities in the market.
Fill these gaps with internal expertise. Lean on your company's experts and quote them in your content. Whatever your expertise is, make sure it shines through in your content.
Remember, the goal isn't to rehash information that's already out there. That won't help you stand out in the crowded financial services digital marketing landscape.
Instead, focus on delivering fresh perspectives and actionable insights. This approach not only boosts your credibility but also positions your brand as a thought leader in the financial sector.
Step 5 - Measure Effectiveness With the Right Content Marketing KPIs
What gets measured gets managed. But not all metrics are created equal. Most companies focus on overall traffic and leave it at that.
But overall traffic is a vanilla metric. Your revenue doesn't depend on how much traffic your content generates—it depends on how much targeted traffic your content attracts.
Here are some non-traditional content marketing KPIs that help you measure your program's effectiveness:
Brand Traffic: This is direct, organic, and referral traffic combined. It tells you how well your content marketing strategy is boosting brand awareness. If these numbers are climbing, your content is doing its job of putting your financial brand on the map.
Conversions: How many visitors are turning into leads? This could be anything from downloading a financial planning guide to signing up for a newsletter.
Content influenced revenue: This one's a bit trickier but valuable. Use Google Analytics to track which pages visitors hit before converting. Better yet, ask your customers about the role content played in their decision. Don't get bogged down in perfect attribution—think of this qualitatively to understand content's impact on your bottom line.
Content ROI: Compare your content-influenced revenue/leads against your investment. Look for positive trends rather than exact figures and remember that your content ROI might show up as reduced customer acquisition costs.
Brand Mentions: Great financial content makes people talk. Track how often your brand is mentioned online and in industry circles. Ask new customers how they heard about you—an increase in referrals often signals that your content is striking a chord.
Design your content marketing dashboard to reflect these KPIs and you'll have a comprehensive view of how your content is performing.
Examples of Memorable Financial Services Content Marketing
So what does great financial content marketing look like? Here are 4 examples of great financial content—specifically their content strategy.
Common Content Marketing Mistakes to Avoid for Financial Services Companies
So far you've learned how content marketing can help your firm stand out, its ROI, and a framework to get started. But what about the mistakes you must avoid?
Here are the common mistakes financial firms make with their content marketing:
Regurgitating content
Not showcasing internal expertise
Prioritizing quantity over quality
Watering down the brand in the name of compliance
Sticking to one form of content
Mistaking content strategy for output
Mistaking marketing for sales
Let's look at them in more detail.
1. Content Marketing Mistake #1 - Regurgitating Content
This is a common pitfall that many financial companies stumble into—publishing rehashed content and justifying it by thinking it helps SEO. Most financial and fintech content follows the skyscraper technique—find popular content, repeat the main points, and add a bit extra.
But in the competitive landscape of financial services digital marketing, this approach falls flat.
Why? Your prospects are savvy. They're inundated with content, and they can spot rehashed information from a mile away. By merely adding one or two points to a list of ten, you're not differentiating your financial brand.
Remember, the goal of your content marketing strategy isn't just to create content—it's to create memorable, valuable content that keeps you at the top of your prospects' minds.
When you regurgitate information, you're missing a crucial opportunity to showcase your unique expertise and insights.
2. Content Marketing Mistake #2 -Not Showcasing Internal Expertise
Here's a common misstep in financial services content marketing—relying solely on Google for content creation. Many content teams fall into the trap of simply researching online, rehashing information, and publishing it with minimal fact-checking.
But this approach misses a golden opportunity to truly shine in the crowded financial content marketing landscape.
The secret weapon you're overlooking? Your internal experts. Your organization is brimming with subject matter experts who have deep, practical insights that can't be found through a quick Google search.
These are people who understand the intricacies of market trends and the real-world challenges your clients face.
Here's a great example of using internal expertise in content from cross-border FX services provider iBanFirst.
Instead of limiting your research to online sources, try this:
Interview your in-house experts
Extract practical insights from their years of experience
Incorporate real-world examples and case studies
Add unique perspectives on industry trends
You'll produce content that's not just informative, but truly valuable and memorable. Remember, in the world of digital marketing for financial services, authenticity and expertise are your greatest assets.
Don't let them go to waste by relying solely on generic online research.
3. Content Marketing Mistake #3 -Prioritizing Quantity Over Quality
Pumping out content like there's no tomorrow isn't the key to success. Too many firms get caught up in hitting arbitrary production targets, treating content like it's coming off an assembly line.
But here's the kicker—this approach often backfires, diluting your message and your brand.
Think about it. Would you trust a financial advisor who tells their clients to spread their investments thin across dozens of mediocre options, or to focus on a few high-performing assets?
The same logic applies to your content strategy.
One killer piece of content can outperform a dozen so-so ones.
A single, well-crafted whitepaper might just position you as the go-to expert in your niche.
An in-depth case study could be the tipping point for a high-value prospect.
And a comprehensive guide? That could drive traffic and conversions for years to come.
So shift gears. Instead of obsessing over how many pieces you're cranking out each month, zero in on the impact of what you're creating through your KPIs:
Are you seeing a boost in qualified leads?
Are your engagement rates trending higher?
Are you seeing more conversions?
Remember, your audience isn't clamoring for more content—they want better content.
By focusing on quality, you're not just ticking boxes—you're building trust, showcasing expertise, and genuinely helping your audience.
4. Content Marketing Mistake #4 - Watering Down Brand in the Name of Compliance
Okay, let's talk about the elephant in the room—compliance. Yes, it's crucial. Yes, it keeps you out of hot water.
But here's the thing—if you let compliance concerns completely dictate your content, you might as well be invisible.
Look, I get it. Regulatory concerns are paramount in financial services and fintech. But some firms take it to the extreme, watering down their voice until it's as bland as unseasoned tofu.
The result? Content that's indistinguishable from your competitors.
Here's the harsh truth—if you're new to the market and your content sounds just like everyone else's, you're dead in the water. You might as well be shouting into the void.
So, what's the solution? Well, compliance is non-negotiable, but neither is your brand identity.
You need to find that sweet spot where you're checking all the regulatory boxes while still letting your unique voice shine through.
Don't let the lawyers have the final say on your brand image. Work with them but also push back when needed. Remember, your content isn't just about avoiding fines—it's about connecting with your audience and standing out in a sea of sameness.
5. Content Marketing Mistake #5 - Sticking to One Form of Content
Getting stuck in a one-format rut is a surprisingly common content marketing mistake. If your idea of financial content marketing starts and ends with churning out blog posts, we need to have a chat.
Modern audiences are as diverse as your investment options. They consume information in more ways than you can shake a stick at. So why are you still putting all your eggs in the written content basket?
(And heads up—if your content marketing agency is still harping on about "what to write, when to write, where to write," it's time to shop around. That's like using a flip phone in the age of smartphones.)
Instead, think of your content strategy as a well-balanced portfolio. Mix it up with:
- Written content
- Podcasts for the commuters
- Video explainers for the visual learners
- Snackable social media content
- Webinars for deep dives
Take FP&A platform Drivetrain for example. The company produces a healthy range of different content formats to keep its audience engaged.
Diversification isn't just an investment strategy—it's a content strategy too. By varying your formats, you're not just catering to different preferences—you're also increasing your chances of reaching and engaging your audience.
So, break out of that content comfort zone. Your audience (and content marketing KPIs) will thank you for it.
6. Content Marketing Mistake #6 - Mistaking Content Strategy for Output
Many firms equate content strategy with production. They focus on the number of content pieces they're getting for their investment, mistaking quantity for quality and overlooking crucial strategic elements.
This approach is like focusing solely on the number of trades you make, rather than the overall performance of your portfolio. It misses the forest for the trees.
A solid content strategy goes far beyond churning out articles or videos. It's about:
- Understanding your audience
- Aligning content with your business goals
- Mapping out the customer journey
- Developing a consistent brand voice
- Creating a distribution plan that reaches your target audience
Content production is just one piece of the puzzle. The strategy is the big picture that guides every piece of content you create.
So, instead of fixating on output metrics, pay attention to the approach and workflows that underpin your strategy.
Remember, a well-thought-out strategy with fewer, high-quality pieces will often outperform a high-volume approach lacking in strategic direction.
7. Content Marketing Mistake #7 - Mistaking Marketing for Sales
Let's talk about the final mistake many companies make—treating content marketing like it's just sales' little helper. If your content isn't directly driving revenue, it's easy to shove it to the back burner, right?
Wrong.
When you reduce content marketing to churning out SEO-stuffed blogs and social media posts an intern could whip up, you're missing the bigger picture.
It's like trying to win a marathon by sprinting the first 100 meters. Sure, you might start strong, but you'll run out of steam pretty quickly.
Remember, content plants seeds for tomorrow. While sales is busy closing hot leads, your content is out there, building your brand and keeping you on the radar of prospects who aren't ready to buy....yet.
Think of it this way: Sales is fishing with a net, catching the fish that are ready to jump in. Content marketing? It's like cultivating an entire ecosystem.
You're not just catching fish—you're making sure there are plenty of fish to catch in the future.
So, don't relegate your content to the back office. Give it the attention it deserves. Because when a prospect's need finally does arise, you want to be the first name that pops into their head.
Mastering Content Marketing in Financial Services
We've covered a lot of ground, from understanding why content marketing matters in the financial world to avoiding common pitfalls. So, what's the big takeaway?
Content marketing isn't just another buzzword—it's a powerful tool that can set your financial institution apart in a crowded market.
When done right, it can reduce your customer acquisition costs, shorten sales cycles, and build trust with your audience.
It all starts with knowing your ideal customer. Don't just guess—dig deep, talk to them, and figure out where they hang out online.
Then, craft content that speaks directly to their needs and challenges.
But watch out for those common mistakes.
Don't fall into the trap of regurgitating content or prioritizing quantity over quality. Showcase your internal expertise, strike a balance with compliance, and diversify your content formats. And please, don't mistake content output for strategy or reduce marketing to a sales support role.
The key is to approach content marketing strategically. It's not just about churning out blog posts or social media updates. Effective content marketing in financial services is about providing value, building relationships, and positioning your brand as a trusted advisor.
It's a long game, but one that pays dividends in customer loyalty and business growth.
So, are you ready to take your financial content marketing to the next level? The strategies are here—now it's time to put them into action.
Need help with this whole content marketing thing for your financial services company? Get in touch with me.
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