A popular sales consultant once said that when all you do is talk about your product you’re only engaging 3% of your audience. But if you talk about how your product can solve a problem that affects everyone, you’re connecting with 100% of your audience. This mindset falls right in line with the new direction of marketing and PR: content marketing.
The Content Marketing Institute defines content marketing as “a strategic marketing approach focused on creating and distributing valuable, relevant, and consistent content to attract and retain a clearly-defined audience — and, ultimately, to drive profitable customer action.” At Truebridge, our Financial Answer Center helps banks and credit unions speak to that 100% by providing a “product,” in this case content, that delivers important information regarding all of their financial questions.
The popularity of content marketing as a strategy arose as the shift toward advertising on social platforms became more wide spread. A side effect of this migration to online is the slow but sure death of the old advertising mediums. To a traditional marketer, this may sound like horrible news. But the reality is that this presents you with a huge opportunity. The death of traditional media means more people are willing to listen to alternative resources to get answers to their questions. And if there’s one industry that should be jumping on the content marketing bandwagon, it’s banks and credit unions. Instead of catchy taglines, consumers want catchy information; that is, information that relates to their personal financial circumstances and life-stage events: a new car, investment planning, and navigating their first home purchase.
Facebook and Instagram
Consider this: This new generation of consumers spends 60% less time watching TV and 600% more time online talking with peers or researching potential products to buy. So shifting more of your marketing efforts to online media opportunities like Facebook and other social platforms is a smart investment and a highly focused way to reach consumers with the information they need, when they need it.
Or, consider what Instagram has to offer. Features such as “Carousel” and “Notify” give you the option to feature 3- x 5-inch ads (image or video) in a single scrollable post. This method is drawing in 10 times more traffic than the posts on Facebook. With “Notify,” a user downloads the app and sets up “stations” across various categories (sports, entertainment, news). Then the user will receive real-time updates as “push notifications” — as they happen, and they appear on the user’s locked screen! This feature will probably be best leveraged in specific instances, like step-by-step tutorials, or featuring multiple blog posts in a single post. Even if you do not have an active Instagram account, you’ll still be able to post ads through its self-service platform.
Social media platforms like these, as a way to provide life-stage focused content to your customers, let you begin to build a relationship that positions you as the trusted expert on all things financial. The takeaway? When consumers are ready to buy, they’ll be more likely to come to you.