The financial industry is notoriously volatile. From yo-yo stock prices to surges in supply and demand, financial businesses must keep a close eye on the financial trends to be successful.
The same is true in marketing for financial businesses. Changing and emerging trends in content matter. For example, building an entire marketing strategy around rock-bottom interest rates would have been smart content in 2020, but a flawed proposition in 2022. So, what are the trends we’re seeing in marketing content for financial businesses today?
Capitalism has always been about haves and have nots, but the awareness of how our economy works among everyday Americans has greatly increased in the digital age. As such, consumers are hyper-aware of the need to “get in early” in order to “win” the moment. Incentivizing early engagement with your product and how such engagement can help consumers get ahead is the trend worth (excuse the pun) capitalizing on. As such, crafting content centered on the idea of winning the moment or gaining an edge is the way to go.
An analyst who works for a major US bank in their risk assessment department recently spoke to us about the major trends in banking. Obviously, inflation and the rising fear that the economy could slip into recession were top-of-mind. But, he said, long-term banks are making an environmental impact a huge component in their lending decisions. Simply put, climate change is bad for business, and risk assessors are looking for projects that take environmental impact seriously.
This sea change from just a few years ago is one that financial businesses can use to market themselves. Identifying inflection points where your business can do its part to address climate change – which polls consistently show is one of the biggest concerns of the coveted 18-34 demographic – and then using these points to better market your products using engaging environmentally-conscious content will be the trend of the next ten years.
According to Forbes, brand loyalty in Millennials is startlingly low compared to previous generations. It’s a trend that’s continuing with Gen Z. While the financial industry is somewhat insulated from this trend – as many products like mortgages and 401ks require time-intensive interaction – the rise of day trade apps like Robin Hood has taught us financial businesses are not immune to rapid consumer disloyalty.
So, what can be done? Offering points of differentiation has always been a keen strategy, but in today’s marketplace, where consumers are no longer equating the best products with the most recognized brands, selling differentiation is crucial. Find what sets your business apart from your competitors and build content around that. Look deeper than low-hanging fruit like “our customer service sets us apart.” Unless you have overwhelming reviews and ratings to back up this claim, it won’t move the needle. Innovation that facilitates making money easier, faster, and more convenient, will ultimately win the day.
Staying on top of trends is crucial in any business, but in the financial industry, it can make all the difference. Focus your content on what matters to your customers, how they can get ahead, and how your products can align with their concerns, and you’ll have a leg up on the competition.