Top 5 Content Marketing Solutions For Private Banks
Investors have more options than ever for managing their wealth, and the world’s most successful private banks have responded — using content solutions to distinguish themselves among the growing number of investment options. From Raymond James’ Technology & Innovation blog to Julius Baer’s insightful wealth and business podcast, the world’s top private banks understand that content solutions are the key to communicating the advantages of their personalized banking experience and connecting with a new generation of consumers. Increasingly younger private banking clients seek innovative wealth management opportunities that align with their individual sensibilities and unique needs. Content solutions have proven to be an essential tool to attract, communicate, and connect with today’s private banking clients.
Here are our top 5 Content Marketing Solutions for Private Banks:
The popularity of audio promotion has risen steadily since 2006 when only 11% of the US population listened to podcasts. In 2021, 57% of American consumers were podcasts listeners, up 2% from the previous year and 46% from 20061. The UK boasts a podcast listenership of over 15 million,2 and in the UAE, 16% of the population tunes into podcasts weekly, placing it on par with the United Kingdom and just behind the global leading USA3. Perhaps not surprisingly, 60% of listeners have purchased something from a podcast advertisement while 54% are more likely to consider the brand being promoted4.
For private banks, podcasts offer a potent medium to inform, educate, and connect with busy consumers who often digest audio content while engaging in their daily routines. But even more key, podcasts effectively reach the Millennial and Gen-Z demographics who are the most ardent listeners of podcasts5 and have become a crucial financial services target, representing the future growth of the private banking sector. Europe-based wealth managers, Kleinwort Hambros, have used their popular “The Wealth Chat” podcast series to demystify the intricate facets of wealth management and investing for audiences who may be overwhelmed by the complicated landscape of 21st-Century finance.
Magazines deliver a journey of content discovery through a proven story format. Targeting niche audiences, magazines offer specific readers information, inspiration, and creative ideas through digital or print mediums that each carry their own distinct benefits.
Private banks use digital magazines to connect with younger consumers where they spend their time — on smartphones, tablets, and computers – while providing an experience that can be both engaging and interactive. Conversely, print magazines not only provide a unique offline component for building relationships with readers; they convey a premium experience that aligns with the level of service clients expect from a private bank. Moreover, the push to digital content has created an opportunity for brands to engage consumers in the offline world through print. Despite the narrowing differences in reach between digital and print magazines, the printed form remains the favored choice. In the UK, 52% of adults read printed magazines,6 and in the US, around 66% of adults prefer printed publications7, further emphasizing the resilience of the medium.
3. Education Courses & Programmes
French investment bank, Société Générale, has made educating future generations a main pillar of its content strategy. The Group’s corporate foundation offers training, courses, and graduate programs designed to develop skills and identify the next generation of future managers.
Education-based marketing solutions build trust and credibility with consumers through educational information, advice, and material.
Brands establish integrity and set themselves up as an authority in the eyes of consumers when they volunteer answers to questions or strategies to help current or potential clients achieve their goals. The precipitous 900% growth of the eLearning industry since 2000 speaks to the popularity of distance learning and the eagerness of consumers to self-educate.
In an industry where a chasm often exists between consumer understanding and professional knowledge, some private banks are using courses in financial literacy to connect with younger generations, maintain an educational presence, and convert consumers into customers.
4. Infographics and Visual Solutions
Infographics are a powerful form of visual communication that takes advantage of colour, charts, images, and graphs to transform the standard text into impactful content. Consumers have become more dependent on visual cues than ever before, making visual content indispensable in any marketing strategy. Research has shown that converting complex information into a visual format significantly helps consumers understand and remember it better9. Infographics also suit the smaller screen real-estate of smartphones, used by nearly 6.4 globally and estimated to exceed 7.5 billion by 202610.
Private banks are using infographics to deliver data in a visually compelling way, communicating their value proposition to both clients and consumers.
Some private banks are leveraging infographics to generate social media micro-narratives — small, easy to absorb information bites that are quick to read and easy to share. UK-based HSBC, one of the world’s largest banking and financial services organisations is using infographics to complement its private banking business. HSBC Private Bank has incorporated infographics as part of its content marketing strategy, enabling it to easily and effectively share digital developments across its social platforms to both clients and platform followers.
5. Blogs & Articles
Blogs and published content-driven articles are a proven method of reaching, engaging, and developing authority with potential clients. A notable 77% of internet users regularly read blog posts and 60% of blog readers purchase a product or service after discovering them in a blog. Both blogs and articles boost visibility through search engines, increasing web traffic by as much as 434% and offering ideal formats to deeply connect with target audiences.
Using a blog as a source of qualified content offers private banks a valuable resource to attract Millennials and Generation Z members who feel uninformed in the areas of finance and investing.
However, blogs hold the potential of building trust through the transparency that all consumers now demand from their financial institutions. Blogs help private banks present their organization’s culture to consumers, establishing credibility and engendering confidence. Blogs and articles are also an effective platform to establish thought leadership and share the guidance consumers tasked with managing their wealth desire most. Through their “Thematic Insights” blog series, the independent financial advisory group, Rothschild & Co., explores the mega-trends that are shaping consumer behavior and disrupting the status quo.