Why FinTech Brands Use Content Marketing
The FinTech industry is one of the fastest-growing sectors in the world. By the year 2022, the global financial sector is expected to be worth over US$26.5 trillion with a compound annual growth rate of 6%.
FinTech brands are now increasingly looking to include content marketing as a key pillar of their marketing and growth strategy.
We spoke to FinTech giants Klarna and Modulr as well as their content marketing partner, Copy House to find out more about the role content marketing plays in their strategy to increase brand awareness and engage audiences.
What is Content Marketing?
Content marketing is a strategic marketing approach that focuses on creating and distributing valuable and consistent content to attract and retain customers from a clearly defined target audience. On average, content marketing pulls in 3x as many leads and costs 62% less than traditional marketing. A well-written piece of content also continues to drive traffic to your site long after you publish it.
Marketing Challenges For FinTech Brands
When it comes to marketing FinTech, most brands face challenges around trust and education.
Traditionally, finance marketing has been aimed solely at IFA’s and the content typically used complicated and jargon-heavy language, which shut out smaller businesses and left customers confused about how financial services work.
FinTechs brands often look to challenge this status quo by creating a more accessible world, which naturally means they also have to educate their audiences in the process.
Klarna’s Senior Marketing Manager, Elias Pitsavos, explains:
“Many traditional financial institutions are afraid of Open Banking because it challenges established business processes and poses the threat of their customers abandoning them. There are also many small companies that we need to reach that don’t know about Open Banking. So we need to find a way to educate them about the service and its value.”
How Content Marketing Conquers These Challenges
“Content marketing is all about building trust and educating people. If your website looks and sounds good people are more likely to trust you. Content helps you give them quality insights without them having to ask for it.”
Kathryn Strachan, MD at Copy House
Content marketing also helps FinTechs to:
Increase Brand Awareness
Being a relatively new player in the field of finance, FinTechs are competing against household names like RBS and HSBC when trying to acquire new clients. Content marketing is an excellent way to increase brand awareness and educate people about their solution.
Klarna’s Elias Pitsavos explains: “
Klarna already has an established brand name when it comes to our core business and our payments solutions. We want to increase brand awareness in the Open Banking world and establish Klarna as a thought-leader in the field. Content marketing helps us do that.”
Build Trust & Credibility
Rightly so, people are nervous about who they trust with their money, so to gain new clients, FinTechs must let people know who they are and what they offer.
Content marketing helps FinTech brands build trust and prove their credibility before someone even speaks to their company. Businesses can then use content marketing to scale those relationships and reach a wider audience, regardless of team size or budget.
Modulr’s Chief Marketing Officer, Edwin Abl, informs:
“As we are a scaling business, we need to get people to understand our brand and our services. Content marketing helps us build credibility and prove that we’re a viable alternative to traditional banking. It’s a key pillar in our strategy to achieve that.”
“We educate our audience through content marketing. Since traditional marketing methods like events aren’t available to the same extent because of COVID, content plays an even more vital role in getting our message out there.”
Elias Pitavos, Klarna.
By sharing useful information in a blog article or on social media, FinTech brands can demonstrate their expertise in the field and kickstart conversations.
Modulr’s Edwin Abl, adds:
“Content marketing helps us communicate what we stand for and how helpful we can be from an education standpoint. It’s not just about marketing, but teaching the audience about changes in the industry and informing people of what’s going on. We use content marketing to build our community."
Whether you’re an established FinTech brand or a startup, content marketing is critical to creating a successful marketing strategy. Other marketing methods come and go, but people have always, and will always want content.
By putting energy into creating high-quality, SEO optimised content – or outsourcing your content creation to a content marketing agency – is a long-term investment, but will bring great results. So start investing now.
Note: Copy House is a content marketing agency specialising in FinTech content and provides content marketing support for Modulr and Klarna. By crafting SEO-optimised, educational content, Copy House helps these FinTech giants increase brand awareness, build trust and educate their audiences. Find out more about Copy House byscheduling a call or visiting their website.