Originally published August 16, 2022 , updated on January 16, 2023

Finance, banking, and insurance are tricky industries to write for. These are competitive fields with complex products and services that can evidently be difficult to market to the right target audience. They serve a diverse customer base with varied segments – each with its own needs and preferences. 

So, the bad news: Content writing and marketing in finance has tough challenges. The good news: As experienced content writers for finance, we have the solutions to those challenges. 

This blog looks at the top five financial content writing challenges companies face and the solutions to overcome them. 

What Is Content Writing in Finance?

Financial content writing is a diverse field. It includes everything from ad copy for new tax services to whitepapers on angel investing. Company websites use landing pages, blogs, and articles along with SEO techniques. They produce emails, newsletters, guides, and handbooks, as well as publish social media content. These formats serve various purposes, such as marketing products and services, sharing insights on market trends, and increasing the brand’s online visibility. 

Content writers for finance topics aim to engage and educate the target audience through their writing. Thus, high-quality content writing services generate leads, improve brand awareness, and increase sales and revenue. The overarching goal is to build a credible relationship with the audience and also position the company as a thought leader in the field. This makes high-quality writing an influential aspect of financial services marketing. 

What Are the Challenges of Financial Content Writing?

1. Strict Rules and Regulations

The financial services industry has a lot of rules and regulations, which extend to its marketing and advertising as well. Failure to follow these can lead to lawsuits, fines, or damage to the brand’s reputation. This limits how a company can market its product and also present information. 

To deal with this, many content writers for finance companies particularly stick to safe and traditional marketing methods. While this is a cautious step, it curtails creativity. The challenge is to work with market barriers and find innovative solutions within the limitations. Brands must produce unique, original copy that stands out from that of their competitors. 

2. Consistent Messaging

A finance business often has many verticals, products, and target audiences. To do justice to all the services and audience segments, the brand chiefly needs an omnichannel marketing strategy. This involves using multiple formats, mediums, and channels. Here, content writers for finance companies specifically face the challenge of delivering a consistent message.

Maintaining coherence across elements of a financial content writing campaign is vital. An inconsistent message can confuse customers, weaken your campaign, and lead to poor results. Brands and financial content writers pour a lot of time, resources, and effort into marketing.  Thus, they must strive to create an integrated strategy with clear objectives and flawless execution. 

3. Commoditisation of Financial Products

Commoditisation is the process by which certain products are viewed as interchangeable with that of a competitor. For instance, high-speed internet was once a novel product that only a few companies offered. They were easily distinguishable based on the quality of their service. But as more internet providers entered the market, all services began to look the same. The only differentiating factor was the cost. 

A similar phenomenon occurs in the finance industry. Products such as personal loans, insurance services, and mortgages are seen as commodities. Here, content writers for finance need to find creative ways to differentiate the product from its competition.

4. Heavy Competition

The finance industry faces a lot of competition. There is a lot of disruption in the market, which accordingly affects the marketing and content writing for financial products. Brands need to invest significant resources in staying relevant in a fast-paced, crowded space.

5. Lack of Customer Trust

Most financial products and services require customers to invest money. Be it credit cards or mutual funds; consumers need to trust the company before using their product or services. However, only 28% of individuals believe that banks care about their long-term financial success. This makes them wary of using new products. This is a significant hurdle that financial content writing needs to overcome. 

​What Are the Solutions?

Every challenge in financial content writing allows us to turn it into a competitive advantage. Therefore, as content writers for the finance industry, we constantly revise our solutions to stay relevant. 

Here are our top three tips. 

1. Build an Integrated and Personalised Strategy

To solve inconsistency in messaging, firstly, devote time to creating an integrated strategy. Figure out the top points of information you would want your target audience to know. Then, generate financial content writing around these points. This will ensure that the target audience leaves with a clear impression of your brand and expertise. 

Secondly, segment your audiences to understand them better and tailor your strategy to suit their preferences. When it comes to distribution, stagger different formats. This helps customers receive personalised information at different steps of their journey. This can strategically nudge them towards conversion. 

2. Lean Into Creative Solutions

To combat commoditisation, lean into narratives that are unique to your brand and target audience. Content writers for finance companies can place themselves in the shoes of the customer and craft copy accordingly. They must use their writing to show the value a financial product or service can bring to the customer’s life. Storytelling techniques create a memorable impression and also help your brand stand apart from your competitors. 

Get creative with your financial content writing and use social media, podcasts, brochures, and eBooks to further your message.

3. Hire Professional Content Writing Services

Professional content writers for finance have the time, expertise, and also resources to generate high-quality copy. They can bridge the gap between your brand and your target audience. Outsourcing your marketing not only saves you time and effort but also helps you overcome other nuanced marketing challenges that come your way.
Goodman Lantern offers a wide range of high-quality financial content writing services. Book a discovery call today!

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