Gaining an increased 'share of wallet' is a key part of any financial providers growth strategy. Having financial education content to share in social, direct and online channels not only provides an opportunity to increase engagement frequency, but also allows you to drive further exploration and discovery of unmet financial needs.
Many financial relationships between a bank or credit union and their customers or members start small and grow over time. Most consumers start with basic checking or savings accounts, and add a credit card or auto loan as their needs progress. Based on life events, consumers may take on mortgage and home equity loans or create deeper savings relationships. Depending on the value a customer or member sees with their bank or credit union, those needs may be met by their existing financial relationships to they may start new ones.
Engaging customers with meaningful financial education content is one of the ways that you can increase the value of your relationship and help you identify when financial needs start to grow. Engaging financial customers with meaningful content will help drive new discovery of a growing set of financial needs. There are multiple opportunities and channels available for financial marketers to do just that.
Sharing financial education content on Facebook, Twitter or other social media engages existing customers in social settings where it is further shared with friends and followers.
Educational content shared in email campaigns and newsletters engages existing customers and drives them to further discovery and exploration on your website.
Customers who visit your website to perform basic banking tasks can be drawn to meaningful educational content.
Finally, marketing campaigns that use financial education content to drive discovery and exploration will find higher conversion rates through improved engagement and nurturing financial consumers through another considered purchase process.