Did you know that there are currently over 1600 fintech brands in the UK?
And, the experts at the UK government Department for International Trade expect this figure to more than double in the next decade.
The Fintech sector is undoubtedly an exciting place to be. But, with so many brands entering the market and calling for attention, it’s become increasingly difficult for startup fintech companies to make an impact.
If you want to boost brand awareness and get customers to recognise the value of your product or service, it’s going to take a bit of creative thinking.
That’s where content marketing comes in.
Why is content marketing important for fintechs
As a recent Forbes article claimed “all marketing is content marketing” as it’s the central ingredient to almost all marketing campaigns. It’s not simply an add on or something fun and snazzy to invest in, but rather your ticket to brand recognition, new leads and of course sales.
So, what exactly is the ROI of content marketing?
Attract new investors & funding
Many FinTech brands rely on investments, especially during the early stages of growth. Fintech investments have witnessed massive growth over the last seven years from a mere 2.5 billion in 2011 to 54.4 billion in 2018. These figures are only expected to continue to grow as more exciting brands enter the marketplace.
An effective content marketing strategy helps you stand out from the crowd to attract new investments. After all, your website is probably one of the first places potential investors will look when investigating your company.
Your website should capture the best aspects of your brand, including why you’re different from your competitors and how you solve customers’ most pressing problems.
A well-written website not only showcases your brand in the best light but also reassures potential investors that you’re well-positioned to bring in new leads, sales and are on track for fast-paced growth.
Boost brand awareness
When you’re first getting started, it’s unlikely that most customers will know your brand name. Your product or service might be an entirely new concept, so potential customers won’t know it exists or that they need it.
One of the many benefits of content marketing is its ability to boost brand awareness with a relatively low budget.
Unlike PPC or paid advertising, you don’t need to spend fortunes to start spreading the word and educating potential customers on your product/service.
Research from DemandMetric shows that content marketing costs 62% less than other forms of marketing and results in 3x as many leads.
Creating long-form blog articles tailored to your target audience is a great way to boost brand awareness as it allows you to connect with potential customers, help alleviate their pains and showcase the value of your product.
Companies that produce regular content, say 3x per week, see 3.5x more traffic than companies that only publish once a week. The results are even more profound for small companies.
Once you’ve created engaging, thought-provoking content, make sure to share it across your social media networks and as part of your newsletter to further increase reach.
Attract the best & brightest
Your employees are your biggest asset.
So, attracting the best and brightest could make the difference between success and well, not.
With thousands of positions currently available in the fintech industry, it’s challenging to attract the best talent, especially for roles already facing skill shortages like data scientists, developers or Fintech specialists.
Content marketing allows you to position your brand as a thought leader in the field and innovative company with plenty of exciting opportunities for employees.
Case studies let you showcase your past work and give potential employees an idea of the type of projects they could work on, while your social media posts can provide a glimpse behind the scenes. You also want to make sure your career page and job descriptions are on point.
With a sound content marketing strategy, you can also reduce recruitment spends as employees come straight to you.
Generate leads & drive sales
While boosting brand awareness and attracting new investors is great, at the end of the day, you’ve got bills to pay.
So, when it comes to measuring ROI, most Fintech brands want to know how content marketing will impact their bottom line.
Well, we’ve got good news for you…
Research from Search Engine Journal shows that inbound leads from SEO, long-form content (like blogs) and social media cost 62% less than outbound leads and are FAR more likely to lead to a sale. Inbound leads from organic search have a 14.6% close rate, while outbound leads only have a 1.7% close rate.
If you want to get the biggest bang for your buck, content marketing provides the perfect solution. Especially when partnered with a sound content marketing strategy like the ones we create for our clients.
What is good content marketing in fintech?
Some Fintech brands are already harnessing the power of content marketing to create awesome campaigns. Here are some of our favourite examples.
WealthSimple: ditching jargon to make investments simple
Too many financial service brands create content bogged down in jargon and complex language, content that makes potential customers eyes glaze over.
WealthSimple flipped this notion on its head by reinventing how people think and talk about investments.
Campaigns like “A Totally Not Boring Guide to Life Insurance” and “Nine Rules for Not Being Dumb When the Market Goes Down” make life insurance and financial planning relatable and fun.
By showcasing a different side of investments and financial planning, WealthSimple effortlessly establishes a relationship with potential customers.
Representing their brand mission of “the simple way to grow your money like the world’s most sophisticated investors.”
Content marketing has certainly contributed to the company’s success with over $2 billion in assets and $65 million in new funding.
Betterment: placing customers at the heart of their content
Betterment’s comprehensive resource hub takes a customer-centric approach to content marketing by answering your top questions from ‘how do I plan for my retirement’ to ‘what types of accounts do you offer.’
Featuring short answers to common questions as well as long-form in-depth articles, their resource hub covers a wide range of subjects. You can get advice on effective investment strategies, project your retirement income with a handy calculator or learn how women are shaping the future of fintech.
Betterment’s approach to content marketing certainly seems to have paid off, as the company was recently valued at $10 billion and ranks on page 1 for popular terms like ‘managed broker account’ or ‘online investment advisory services.’
Monzo: promoting radical transparency
Traditional financial service providers often fall short when it comes to supporting their customers.
Monzo’s radical approach to content marketing changed the game by providing customers with radical transparency across all levels. They went as far as to share internal emails and annual earning reports.
In addition to publishing sensitive company information, they also created online resources to empower customers by educating them on savvy investments and ways to grow their money.
And, when it came time to raise funds, Monzo even allowed customers to overdraw on their bank accounts to invest in Monzo’s crowdfunding campaign — an approach that certainly raised eyebrows in the banking world.
Providing customers with so much transparency and support not only allowed Monzo to deliver fantastic customer service but also directly contributed to their success. Monzo quickly grew their users to 1.2 million, raised £20 million via their controversial crowdfunding campaign and replaced First Direct as Britain's number one bank for customer service.
How to get started with content marketing
Good content marketing campaigns rely on a robust strategy, which is finely tuned to attract and support your target audience, stand out from the crowd and champion the value of your brand.
As one of Scotland’s only fintech content marketing agencies, we’re specialists in creating winning content marketing strategies for fintech startups. Send us a message to learn how we can help you get started.