Whatever financial task they’re hoping to achieve, whether it’s opening a checking account, getting a new credit card, or finding a financial advisor, consumers go to Google to find what they need.
Today’s consumers have their choice of finance companies to work with; they’re no longer forced to deciding between the two down the street. Not only are they used to having a choice, but they’re also used to leveraging technology to select their brands.
Online searches for bank branches and ATMs have continued to skyrocket in recent years, even as physical locations have continued to close.
The need for digital marketing is not unique among the financial services industry, but it’s propelled forward by an acute feeling of playing “catch up.” More so than in other industries, the finance industry has faced disruption from outside players like Stripe and Wealthfront whose online-first approaches have increased consumer expectations of what they can get—and what they deserve—from the financial brands they choose.
In response to these expectations, finance companies are switching their marketing from traditional to digital channels.
Google has the power to send customers your way, but you need to be present on Google for them to find you.
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Over 70% of finance companies are increasing their digital marketing spend in the next year.
Our Best Digital Marketing Tips for Finance Companies
It’s time to introduce your finance company to more customers. Follow our top digital marketing tips for financial brands.
Pay attention to your Quality Score
Your Quality Score in Google Ads determines both your visibility in paid search and the cost you pay per click. It’s based on Google’s assessment of your ad quality and the relevance of your keywords. To boost your visibility and lower your CPC, set up airtight campaign structures.
Be ready for competition
The field of finance is highly competitive. At any moment, a new competitor can enter the space and push you down the search results. Be vigilant about bid changes and budget updates to defend your ad position.
Boost SEO with link-worthy content
Providing linkable (read:useful) content and assets is an excellent method to attract natural links for SEO. Examples include FAQ’s (“what is a reverse mortgage?”) and tools (“mortgage rate calculator”). Not only are these articles helpful, but they may appear in the Knowledge Graph, earning you a featured spot in the organic search results.
Adopt AMP for mobile accessibility
Accelerated Mobile Pages load your content faster to users. By implementing AMP on your website, you increase your chances of ranking higher for mobile users and reaching customers when they’re on the go.
Optimize your internal links
One easy way to improve your rankings for your top pages starts in a place you might not expect: your own website. Reevaluate your internal linking structure. Find opportunities to add links to your high-value pages, thereby improving your organic positioning.
Top Digital Marketing Channels for Finance Companies
Digital marketing includes several channels, from social media to banner ads. Because so many of today’s financial customers start their search with Google, we recommend finance companies focus their digital marketing there.
Paid search is a form of online advertising. You bid on keywords relevant to your business (such as “credit cards” or “open checking account”), and your ad is placed at the top of the search results in Google whenever people search for those phrases. Because you only pay once a customer clicks on your ad, this is also known as pay-per-click, or PPC, advertising.
The value of paid search is that the results are immediate. Like offline advertising channels, you can bid competitively, and your ad shows up where you want—just like a billboard. However, unlike billboards, with paid search, you can instantly track the results of your spend.
You can also continually tweak your ads to optimize them for better performance, unlike offline print advertising, where you’re stuck with whatever image and copy you chose. In this way, you can continually improve the headlines, copy, and CTA of your ads to outperform your competition.
Best of all, you can focus your paid search ads on just the keywords with conversion intent. You don’t have to pay to reach someone who’s simply interested in educating themselves about their financial future. Instead, you can bid on keywords most likely to get someone to convert or open an account. Done right, paid search can attract website visitors who are 50% more likely to convert than the average user.
At Your Marketing People, we recommend finance companies bid aggressively on finance keywords, in order to pull share away from your competitors and win more customers.
Keywords are expensive, so you need an SEO strategy that works in tandem with your paid search efforts. That way, your finance company can maximize your presence in the search results: appearing in both the paid and organic search positions.
SEO, which is short for search engine optimization, involves a variety of tactics, such as content production, technical site optimization, link-building, and more. All of these are designed to optimize your website for the right keywords, so Google is more likely to display your site in the search results—and lead qualified customers your way.
By creating strategic content, finance companies can improve their rankings for many of the keywords they’re already bidding on in paid search, as well as others. For example, finance customers are looking for educational information. They want to know where to invest and when. They also want to know why they should choose your company over another. Well-produced content can help you convince them.
The best part of SEO is that it works exponentially. You create the content once, and as you continue driving traffic and links to it, the better it ranks—and the more traffic it generates. That’s why SEO campaigns end up performing almost 6 times better than paid search. It also explains why, on average, finance companies dedicate 47% of their website budget to SEO.
Don’t forget content includes video, too. YouTube is the world’s second largest search engine, after Google. By 2019, experts predict video will represent 80% of all internet traffic. By complementing your written content with video, your finance company can boost your rankings and earn more clicks.
The Largest Digital Marketing Challenge for Finance Companies
For 44% of finance marketers, keeping up with the competition is their biggest marketing challenge. Not only is the finance industry competitive, but it’s also expensive. This industry has some of the highest CPCs, and there are regulations you must follow in order to advertise on Google paid search.
Because the cost of PPC is so high for finance keywords, you need to ensure your strategy is sound. That’s another area where a marketing agency proves useful. They have the proven experience of working with other clients to inform your strategy of what works—and what doesn’t—for finance companies.
With a solid strategy behind you, you’ll be confident devoting the sufficient budget to truly test new campaigns. To goose your rankings and dominate Google, you need to be willing to invest in digital marketing.
For best results, work with an agency that has clients in the finance industry. They’ll have access to the Google reps who can help and advise you when needed, and they’ll also be invested in staying on top of ongoing regulatory changes.
Your Marketing People has that experience.
Recent finance clients include Civic Financial Services and Knightsbridge.
Best Digital Marketing Tips For Finance Companies: A Recap
- Pay Attention To Your Quality Score
- Be Ready For Competition
- Boost Seo With Link-Worthy Content
- Adopt Amp For Mobile Accessibility
- Optimize Your Internal Links
About Your Marketing People
You want more customers, new deals, and new accounts. That’s where Your Marketing People can help.
Our specialized digital strategies for finance companies are designed to put your company front and center in the Google search results, right where your customers are looking. From paid search to SEO and more, we’ll position your finance firm to beat your competitors—for the best ROI possible.
Let’s build a digital marketing strategy for your business.
