Originally published February 19, 2023 , updated on February 20, 2023

Businesses in the financial industry have a unique set of challenges when it comes to content strategy and creation. As an industry steeped in regulations and complexity, creating quality, engaging content isn’t easy. 

But with the right content strategy, you’ll be able to leverage your content to educate customers, reassure them by demonstrating your expertise, and make a real difference to your bottom line. 

The trick to creating the right strategy is knowing what these challenges are and having solid plans to overcome them. In this article, we’ll cover four of the main financial content marketing challenges and provide some ways to mitigate them. 

Four Financial Content Marketing Challenges and How to Overcome Them

Let’s look at four of the biggest financial content marketing challenges and how you can tackle them.

1. Maintaining Regulatory Compliance

Regulatory compliance is central to content creation in financial services. Government agencies such as the Federal Reserve Board, the Securities and Exchange Commission, the European Banking Authority, or the Financial Conduct Authority set strict rules about the language that you use and the assurances you make in content. 

Financial content marketing must follow these detailed guidelines. Failure to do so can result in hefty fines and reputational damage.

The fact that these regulations are ever-changing is one of the most significant challenges of content creation in financial services. You must stay abreast of new or changing regulations to ensure your content is compliant. You must also be able to prove compliance with regulations if you’re questioned.

To address these challenges, you should work closely with legal teams. They can create a compliance review process to check and approve all content before you publish. You should also invest in training and education for content creators to ensure they have a thorough understanding of the regulations. Alternatively, work with expert writers and editors that understand the industry.

2. Explaining Complex Products

Explaining the benefits of your products and services in your content is vital, but many companies fall short here. This is because financial products or services are difficult for the average person to understand, and creating content that communicates their value to potential customers is challenging. 

To make your content successful, you need to translate complex information into simple language for your target audience. According to Invoca, 90% of loan and mortgage consumers, 85% of check cashing consumers, and 76% of tax return preparation consumers start their journey with an online search. The purpose of this search is to gather more information and understand their options before making a decision. 

This creates a great opportunity to leverage your financial content marketing to address their questions. You could also create content that reassures them to encourage them to make a purchase. To improve content creation in financial services, invest in training and education for your content creators. 

This may involve providing training on the technical aspects of financial products and information on effective communication strategies. You could also outsource this to an agency that already have the skills and knowledge.

With the right training and resources, your content writers can demonstrate the benefits of your products. 

3. Targeting a Diverse Audience

The financial industry serves a wide range of customers, from young adults to retirees. Each of these groups has different needs, concerns, and financial goals. As such, it can be difficult to create content that appeals to all. 

Also, you need to consider your audience’s cultural and linguistic diversity and try to create content that is inclusive and accessible to everybody. 

To address these challenges, you should segment your audience. Then, create targeted content for different age groups, income levels, or life stages. Before writing any content, research your target audience and use the data you collect about them. This gives you a deeper understanding of exactly who your target customers are and what their wants and needs are.

Once you create compliant content that explains your services in language that a diverse audience understands, you’re ready to post. 

4. Measuring the Success of Your Strategy

Financial products are complex, which often means consumers have a long decision-making process before they take action. Because of this, it can be hard to measure the success of your content. A customer may read an article or watch a video on a financial service or product. But this doesn’t mean they will buy or invest immediately. 

Because the decision-making process can take weeks or even months, it can be difficult to attribute a sale or lead to a specific piece of content. You may also have trouble measuring customer engagement and satisfaction as these metrics are difficult to quantify.

To mitigate this, you should adopt a holistic approach to measuring success. Track various metrics, such as website traffic, lead generation, and customer satisfaction. Use analytics tools to gain insights into customer behaviour and preferences. Additionally, you can use surveys or focus groups to gather customer feedback.

All of this information gives insight into the effectiveness of your financial content marketing. It’s also important to track the customer journey and the touchpoints that the customer has with your content. This will give a better understanding of the effectiveness of the content in the decision-making process.

If you want your content strategy to work, you must overcome these challenges. Unfortunately, many businesses find this difficult without professional help.

Does Your Financial Services Business Need Professional Copywriting Help?

Creating content for the financial sector takes a lot of work. If you are struggling to get your strategy right, Goodman Lantern is here to help. We’re an experienced, award-winning content creation agency working across industries. We can help you develop the best content strategy for finance and overcome the unique challenges you face. Get in touch today to learn more about our services.

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