The State of Content Marketing for B2B Fintech

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Last Updated on July 27, 2021 by admin

I’ll refrain from the “If 2020 taught us anything…” and “get ready for the ‘new normal’…” statements and jump right to: digital content matters. You know it. I know it. Amazon knows it. Even your grandma has an Instagram account. Digital content is the way we connect with others in 2021 — and it’s the most important way for fintechs to connect with prospects. 

In some ways, this should be an inherent belief. Fintech, after all, is financial technology, and emerging technology largely exists on the digital plane. Fintech is all about digital: digital payments, digital compliance checks, digital fraud prevention. But what about digital content?

::Crickets::

Digital transformation is a hot topic in the industry, but what about digital content transformation? Does your organization have a digital content strategy? Do you follow a regular cadence for releasing new digital media? How are you engaging with an audience that is overwhelmingly online — and looking for the answers to problems you solve?

If you’re not sure about the answers to these questions, we’ve put together some compelling data from reputable sources to help you understand the scope and importance of content marketing in 2021 and beyond. Buckle up. 

What Content Marketing Trends Tell Us About Where We Stand

According to HubSpot’s 2021 Not Another State of Marketing Report, 82% of marketers report using content marketing — a whopping 70% jump over last year. Of the other 18%, a little under half (44%) say they aren’t sure if they’ll start in 2021. 

In terms of content types, video reigns supreme for marketing media in 2021, but that’s closely followed by blogs, which are used by more than half of marketing teams. Where do you fall in this mix? Do you have a dedicated content marketing team? Can they create a symphony of educational, interesting, and actionable content with video and blog content?

If you aren’t a part of the segment that has already ramped up content marketing efforts, you’re not alone: 28% of respondents plan on newly investing in content

marketing in 2021 — an increase of 17% from 2020.

What Does Successful Content Marketing Look Like?

Some hesitance behind launching a content marketing program may lie in uncertainty about what “success” looks like. According to the respondents of HubSpot’s survey, content marketers attribute success to the following factors (ordered by the number of people who indicated the factor was how they measured success, from greatest to least): 

  • Sales
  • Web Traffic
  • Social Engagement
  • Lead Generation
  • Onsite Engagement

To achieve success, B2B organizations are augmenting content marketing efforts with analytics tools, social media publishing, and email marketing software. And they are orchestrating organic content distribution on social media, email, and websites. 

No matter how you define success, content marketing can help you achieve all of these goals, especially when paired with a winning combination of tools and tactics. 

What The State of Fintech Tells Us About The Importance of Content Marketing

The fintech industry faces unique challenges when it comes to marketing. In addition to overcoming hurdles to connect with and compel an audience to action, fintech relies on trust and credibility to acquire new customers

But trust and credibility do not appear out of thin air; rather, fintechs must make a concerted effort to forge and nurture relationships in order to build trust and credibility in the market. Content marketing — and more specifically, storytelling — is an effective way to do this. 

In breaking down fintech’s most challenging problems in customer acquisition, we see that:

  • Fintechs, as an alternative to more traditional banking and payment systems, often struggle to establish brand recognition and credibility
  • As such, their products and services are viewed as unfamiliar and unpredictable, making it hard to establish trust
  • The problems that fintech solves can be so complex that businesses may not even understand them, which requires additional education from a trusted source

Just 47% of people, on average, report that they trust peer-to-peer and digital payment companies. Only 48% trust blockchain and crypto companies, and 49% trust digital wealth and robo-advisory firms. In comparison, trust is at an all-time high in the financial services sector with 67% saying they trust institutions to do what is right. Fear of the unknown is a major hindrance to fintechs when it comes to connecting with people who still largely rely on and trust more established financial service providers. 

Those are significant hurdles, especially when it comes to trust and credibility, which require a deeper, more meaningful level of connection with prospects.

Storytelling—done well—can bridge some of these gaps and foster that emotional connection needed for fintech customer acquisition. Informative stories that demonstrate real-life resolutions to key problems attract an audience, amplify word of mouth, and build up brand credibility. Authenticity in storytelling can build trust while communicating the business value effectively. Memorable stories simplify complex concepts and help buyers wrap their minds more easily around innovative solutions that they have never seen before.

The Bottom Line for Fintech Content Marketing

Whether you do or do not currently have a content marketing program, one thing is undeniable: it has become table stakes to move ahead in a fast-paced and highly competitive B2B fintech space. Combatting fear and distrust while connecting with prospects on a deeper level requires effective digital communication with your audience to educate, enhance credibility, and convert. 

If you’re feeling stuck in the sand with your content marketing efforts, download our (free) Fintech Customer Acquisition Playbook for more insights on how content can improve customer acquisition and get you on the right path for the era of digital. 

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