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Content plays an integral role in every stage of the buyer’s journey. Content’s role starts with the first click and carries through to the final purchase. Even after a purchase, it’s the content that guides, educates, and connects with the audience.
Content is, and should be, a crucial touchpoint, reminding customers of the value they’ve signed up for and the promise of more value to come. This article highlights the importance of content as a tool to support fintech revenue retention – and showcases different types of content and the variety of ways fintech marketers can use them to hit revenue goals.
Content’s Role in the Buyer’s Journey – All of It
Content simplifies, clarifies, and enlightens. Fintech marketers often lean heavily on content as an awareness and decision tool, and rightfully so. Blogs, articles, and thought leadership can create momentum and foster new relationships.
But don’t forget about the customers you already have. The right content at the right time can guide a confused prospect or reaffirm a customer’s decision. Content can be used to address concerns, provide insights, or share valuable information for which your customers might be searching. Content can act as an anchor that offers insights and comfort when customers are unsure.
Fintech has faced stronger headwinds in the past year, putting an increased emphasis on fintech revenue retention. Still, content has remained an overlooked tool when it comes to customer retention.
Why a Focus on Existing Clients is Key
While attracting new customers is vital, retaining existing ones is paramount. Harvard Business Review points out that it can be 5 to 25 times more expensive to acquire a new customer than to retain an existing one. Still not convinced? Try this math: the probability of selling to an existing customer is 60-70%, while the likelihood of selling to a new prospect is only 5-20%.
A laser focus on existing clients isn’t just a good strategy; it’s an essential one.
Customer retention starts with welcoming a new customer onboard – but that’s just the beginning. Focus on ways to build trust with your customers, including clear ‘how-to’ guides for successful onboarding and frequently asked questions to make the transition smoother.
Keeping your customers happy is just one part of the equation. Take it a step further by crafting content that nudges them to refer your solution to peers or share their positive experiences online. Happy customers are likely to share your solution with their peers – which can boost revenue. What’s more, penning a positive testimonial can help solidify the importance of your solution in a customer’s mind. And let’s not forget the lucrative cross- and upselling opportunities.
Remember – every customer is on a journey; they require different types of content at various stages. Early on, they might appreciate more instructional content. As they become seasoned users, more in-depth analytical pieces or updates on industry trends might be more fitting. And as they get really comfortable using your solution, they may want to better understand what other services or products you offer. Don’t deprive them of those opportunities.
Types of Content That Support Fintech Revenue Retention
Diversifying your content is smart marketing and it plays a critical role in fintech revenue retention. It’s the only way to cater to varying preferences and needs. It also ensures you remain a valuable touchpoint throughout the customer’s journey.
Here’s a breakdown of some of the most effective retention content\ types:
Webinars and Tutorial Videos
Why Use Them: These formats are great for breaking down intricate fintech concepts into digestible chunks. Live webinars also offer real-time engagement, enabling customers to ask questions and get immediate answers.
Benefit: This immediate two-way communication fosters trust and positions your brand as a genuine thought leader and helper.
Regular Newsletters
Why Use Them: Customers appreciate being kept in the loop. Newsletters serve as a personalized touchpoint and demonstrate you have your finger on the pulse of the industry.
Benefit: Beyond updates, newsletters can be tailored based on customer interaction, offering them insights most relevant to their needs and enhancing personalization.
Case Studies
Why Use Them: They showcase the practical application of your services. Highlighting real-world examples of how your solutions have made a difference showcases tangible proof of value.
Benefit: Trust in the fintech industry is paramount. Case studies serve as evidence of your expertise and illustrate the potential business benefits over time.
Infographics
Why Use Them: There’s no shortage of data in the fintech space. Infographics are a visually appealing way to present complex data sets or explain processes simply.
Benefit: They are easily shareable across platforms, increasing the visibility of your brand and reinforcing the value proposition to existing customers.
Whitepapers
Why Use Them: Whitepapers are the gold standard as far as presenting in-depth analyses or new perspectives is concerned. These detailed, data-driven pieces allow you to offer unique insights and be a thought leader.
Benefit: A well-researched whitepaper not only adds value but reaffirms their decision to choose a brand that’s at the forefront of knowledge.
Podcasts
Why Use Them: Don’t ignore the growing popularity of audio content. Podcasts offer a convenient way for customers to gain insights on the go. They also position creators as authoritative figures in a space.
Benefit: Featuring industry experts or addressing common fintech challenges in podcast episodes deepens the relationship with listeners, positioning your brand as more than just a service provider but a constant source of knowledge.
Diversifying your content strategy allows you to cast a wider net without losing personalization. You can appeal to customers’ consumption patterns at each stage of the broader journey and each step of individual customer journeys, improving fintech revenue retention.
Retaining Customers with Consistent Content
Consistency in content marketing isn’t just about frequency; it’s about reliability and relevance. Think of it as maintaining a friendship. Regular conversations strengthen bonds. If your customers know they can expect regular, valuable insights from you, their loyalty deepens. When they face challenges or have questions, they’re more likely to turn to a trusted source (you) than look elsewhere.
It’s this trust, built through consistent content delivery, that solidifies your relationship with your audience. They don’t just see you as a service provider, but as a knowledgeable guide in the ever-evolving fintech landscape.
Conclusion
We know trust and reliability are important in acquiring new customers, but don’t forget their role in keeping the ones you have. Here, content can be a powerful ally.
Focus on creating meaningful, consistent, and relevant content tailored to your existing customers’ needs. You’ll foster loyalty and see tangible results in your fintech revenue retention. Fintech is a highly technical field driven by numbers and data. Cut through the noise and complexity with content that nurtures the relationships you have – and enjoy the subsequent impact on your organization’s growth.
