But matching industry trends, content is also becoming a key part of financial marketing.
For banks, exuding thought leadership has always been an important trait. Through the Celtic Tiger good times, we in Ireland had property supplements that were basically sponsored content by financial institutions, so banks creating branded reports is nothing new.
Now though, with content and social marketing exploding, it’s more important than ever to understand how to use the knowledge that (sometimes!) exists within the upper echelons of a bank for marketing and lead generation purposes.
In Ireland in recent times, the likes of AIB, KBC and Permanent TSB have turned to whitepapers, reports and insights to set themselves apart from the crowd.
PTSB, extending its role as a ‘switch friendly’ banking option, partner with Amarach research to create a regular ‘Switching Index‘ for example, while AIB are really gaining some good traction with branded reports on specific sectors. Last week’s tech edition is a great read.
Content marketing is a coming trend in Ireland in 2014, but hasn’t fully taken hold, particularly with the more ‘traditional’ brands and institutions.
Globally, the likes of AMEX leads in the financial content space. It connects with small business through it’s OPENforum portal, which provides readers with “a digital magazine filled with small business analysis and insights from top industry experts.”
Credit Suisse is another good study in value creation for its customers. Its ‘Financialist’ Mag has a niche focus, but, importantly, attracts the eyeballs of a very specific, high powered potential customer base.
Great content for banks hits a certain sweet spot:
Trust those crafty Scandanavians to bring things to the next level though. In Denmark, one bank is leading the way for creative content. Over the past five years, Jyske Bank has established its own TV station, which takes full advantage of web and social distribution, and has helped the bank define a position of control and power in the Danish market.
The brand creates award-winning television and video shows on financial, monetary, economic, tech and marketing issues via an in house production company. (Remind you of anyone?).
Instead of paying for expensive sponsorships or ad placements, Jyske uses its built up credibility and reach to partner with organisations like World Mobile Congress, who provide it with interviews and content. Think Bloomberg in Danish but created by a bank.
Of course, you’d imagine there are ethical concerns with this type of thing. Would many trust an Irish banking official giving advice or opinion on monetary matters these days for example? However, in the age of social media, brands have learned that they can no longer afford to wait around for another publication to tell their stories for them.
Jyske has a track record in innovation and agility that most Irish banks could learn from. It spotted a market opportunity and has executed admirably. The bank also uses an omni channel outlook, with integration with Facebook, a mobile app, and other media organisation representing important distribution channels.
Jyske recently won a ‘Best Web TV’ station in Europe award, and it’s hard to know whether it’s a T.V. station with a bank or vice versa.
Entertain, don’t interrupt
Jyske understand this, and who’s to say an AIB or even BOI can’t dip their toes into creating more whitepapers, podcasts or even weekly web videos? The mindset needs to shift to thinking more like a publisher and less like a staid, stuffy old institution, but something radical needs to happen in Irish banking marketing. Who’ll be brave enough to take the leap?
For another good read on financial content marketing, see this Contently report.