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Should Banks Blog? All You Need To Know
November 20, 2019
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If there’s no content strategy set up for your bank which leverages a blog, you (or your employer) need to read this post. You have probably heard several things with regards to inbound marketing, but is inbound marketing worth the effort?
There’s a rapid evolution in the behavior of consumers, and we’re all millennials these days. We expect a lot from the businesses we patronize, we desire personalized experiences, want tech that’s mobile-friendly, and we use information fast. It isn’t a surprise that 88% of customers initially go do some research online about a bank before they create a bank account (web stress index).
Given that there’s an insatiable request for vital information that everyone needs, particularly in things pertaining to finance, blogs are substantial assets that banks should use as a foundation for their digital marketing strategy. Below are just some reasons your financial institutions need to make use of content marketing:

  • Blog content assists you in delivering the mission statement of your bank

If you check out several websites of banks, there’s a high tendency of you seeing an “About Us” page, which has a mission statement similar to something like this “Our bank empowers businesses, people, and communities for them to have a better financial wellbeing.” Your bank is definitely doing these via the incorporation of educational events, event sponsorship, charitable donations, and many more. These acts definitely possess values, but their reach is also limited. When you leverage your employees’ expertise, you can develop educational content which can get to any individual, anytime, and anywhere. Think about the needs of your customers when you write blog contents – attempt making your bank a resource that gives answers to their questions and helps their research for lending and banking solutions. When you do this, you aren’t only fulfilling the mission statement of your bank, but you’re also showing authority and credibility to prospective clients.
According to Demand Metric, 70% of individuals prefer learning about a company via articles compared to advertisements.

  • Contents in a blog convert potential customers into real customers

There used to be a time where the customer journey of businesses and consumers were quite linear. These days, the journey of a customer is more like a spider web of micro-moments. As a matter of fact, a recent study of buyer journeys by Google discovered that there’s no exact similarity between two journeys. Irrespective of the path taken, your bank can be there in the entire journey of the prospect by crafting contents of great value, which talk about the concerns of the prospect. With almost all individuals doing researches online before deciding on what to purchase, you should know that your prospects and customers are also looking online to get their financial answers. Would you not wish they get their answers through your website, and not from your competitor?
According to HubSpot, there’s a 126% greater lead growth experienced by businesses who blog.

  • Blog content caused an increase in the loyalty of your existing customers

If your blog does a survey of your existing customers asking them where they go for financial inspiration and advice, would any of them mention your website? Definitely, several individuals would rather see pets in their Facebook Timeline compared to seeing the chairman of a company, but where do they go anytime they have some financial questions? When they’re looking for local resources to start a business, when they’re curious regarding down payment assistance programs, or need assistance building trust? Blog contents can be used in giving your customers financial empowerment and education, and this will assist in building loyalty with your clients. 79% of individuals see the banks as just transactional bodies, so make a difference by giving them more than solely free checks!
According to marketing profs, 68% of customers have a more positive feeling regarding a brand after they’ve consumed content from it.

  • There are cumulative advantages to blog content

One special thing about blogs of banks is the fact that there’s an increment in its value over time, compared to one-time campaigns such as direct mail, radio, billboards, etc. As you create original content weekly, you produce more “paths” to your site. When you create evergreen content, you can make sure that prospects continuously see your blog anytime they’re doing research of common questions regarding financial solutions. Every content you create has the potentials of becoming an evergreen resource for your brand. The combined effect of constantly publishing valuable content will maximize online visibility, site visitors, and leads.

  • Blog content powers every other effort of digital marketing

With no valuable content, why’d anyone follow your social media profiles or open the newsletters you send? Content is the key to email opens, online ads that convert, social media engagement, effective SEO (search engine optimization), and personalized marketing automation. If you want your customers and prospects to have you in mind, it begins by giving value. Of course, content marketing is not the only way value can be provided by your community banks, but it is a vital aspect of a great digital marketing strategy.
According to demand metrics, content marketing generates 3× as more leads compared to traditional marketing for every dollar spent.

Are you convinced yet?

If you are still skeptical about how valuable a blog is for your credit union or bank, reach out to me now to begin a conversation. You can also take advantage of my free content strategy, which will help you in making your content marketing efforts effective.