The financial sector is highly competitive which makes the need for digital marketing paramount for companies wanting to stand out. Finance is serious business so a marketing approach that would work for a CBD product or video game might not be formal enough to work. People do not want to find humor in content they are reading in order to pay off their mortgage quickly, they want clear educational content. Problems arise in the financial sector for this reason as many people want entertaining as well as informative content. Below we will address problems that commonly need to be addressed when digital marketing in the financial sector.
Data Can Be Boring…..Unless You Use Visual Tools To Help
Raw data is a part of business in the financial world but this does not always make for the most engaging of content when written. Putting this information into an infographic allows for this to be easy to understand as well as eye-catching. There are plenty of freelancers that can handle the design of an infographic for a reasonable price. These can be used as resources and attract quite a few backlinks when done well on an interesting subject. Video explaining data can also be a perfect resource as well as not everyone has time to read but can listen on a commute or during the workday.
Don’t Skip The Podcast And Transcribe These As Well
Podcasts can allow a business to get in-depth and really showcase the knowledge of staff on relevant financial topics. Honest discussions about certain things like investing or dealing with debt are topics that people inside and outside the industry will listen to. Financial topics like picking a stockbroker or taking out a car loan are those that everyone has to learn at one time or another. Transcribing the podcast can turn the discussion into a searchable piece of long-form content. This has a myriad of SEO benefits and can allow people to reference the text far easier than that of finding a specific segment of a multi-hour podcast.
The Same Old Generic Content Won’t Drive Traffic Or Backlinks
Writing content that everyone has read in some form or another is not going to attract traffic. Telling readers to save more money by not eating out or canceling their cable is common knowledge. Backlinks can be attracted by covering very specific topics that can be of use to link to in related content. Resources on topics can also drive backlinks but this might take manual outreach and guest posting. Backlinks are immensely important in ranking for keywords with many companies outsourcing their backlinking budget to digital marketing agencies. Beware of certain agencies as they could be using unethical ways to get backlinks which can lead to a Google penalty which will plummet the business down the search results.
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Markets Can Fluctuate Immensely Leading To Poor Advice Given
The tough part about giving advice for investing is that markets can fluctuate in immense ways. Avoid giving tips like these but rather inform the reader or listener so they can make their own decision. Companies that deal in markets like that of cryptocurrency have a very tough job due to the volatility of these electronic currencies. The consumer does understand that at times investment firm can make poor choices or endorse the wrong stock or mutual fund at times for the most part. Asking readers and current customers what type of topics they would like to see covered can make it easy to create a monthly editorial calendar.
Lack Of PR Resources In Case Of Disaster (Hack, Fraud, Falsifying of Documents)
The nightmare of a hack is something that a PR team or marketing department as a whole has to get out in front of. Financial related businesses that place an importance on security can still be hacked. The PR team needs to address this honestly as well as let current customers know what steps are being taken to put an even larger emphasis on security. Fraud, unfortunately, does happen with some less than ethical people that could work at the company. Firing these people and notifying the authorities are the only things that can be done. Online reputation management in these cases is important as falsifying documents is a huge deal that can put the company in legal peril as well as problems with current customers. Nobody wants their money frozen in an account due to their money manager or investment bank is being investigated for various legal issues.
Digital marketing needs to be done at a high level to compete in the financial sector. What many companies need to do is to form a digital marketing team or find a company they trust to handle their marketing for them. Simply doing an average job can leave the company far behind its competitors.