Since the financial crisis and the bank bailout, financial institutions around the world have struggled with public perception as well as competing with new, disruptive online banking startups. But through a study conducted by NewsCred with RedShift this year, we’ve determined that the key differentiator of success for banks is great content that helps their clients make life decisions. Despite your opinion on banks, nearly everyone needs an account to save for the future and reach certain life milestones like purchasing a home or saving for retirement. The average person in need of financial services is always looking for information on how to achieve these goals – and that’s where banks have an opportunity to reach them with financial content marketing. Despite general mistrust for banks, over half of the respondents in our study said that they would trust their banks more if they offered helpful content.
A classic example of the benefits of financial content marketing is industry leader AmEx Open Forum. American Express identified that a large portion of their audience were small business owners and entrepreneurs who frequently sought financial and business advice online. AmEx Open Forum includes finance and small business how-to’s, advice from successful entrepreneurs and business owners, and the ability for newer readers to ask or exchange ideas. AmEx leads with content that informs and inspires, establishing themselves as an authority in the entrepreneur community and not just a brand trying to make a sale. AmEx’s great content has paid off: Open Forum is one of the top 100 sites in the US and the brand boasts over 200,000 Twitter followers and nearly 350,000 Facebook likes.
Another interesting finding from the study is that millennials aged 18-24 are far more receptive to financial content marketing than their older counterparts (see infographic below). They are also the most engaged on social media and would prefer to see non-finance related content from their banks, such as travel tips, career advice, and technology guides. This demographic is far more interested in online content in general, with 59% agreeing that interesting content would make them spend more time on their bank’s webpage, as opposed to the 36% average other age groups offered.
To learn more about content marketing best practices for financial institutions, check out the infographic below and download the full report, “The Trust Transaction.”
Originally published on Oct 3, 2014 7:41 PM