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Advortials, paid sponsorships, paid traffic, oh my.
Many fintech companies invest heavily in paid advertising, but recent surveys suggest that users aren't buying them anymore. In fact, according to The Financial Brand, 70% to 80% of users say they ignore sponsored search results and paid ads. And these ads aren't cheap: the same survey found that financial institutions spend about 81 cents a click for a display network ad and $3.56 per click for search ads.
That begs the question: Is there a cheaper, easier way to target a specific audience and provide them with the information they need to make informed financial decisions?
Yes, and that answer is content syndication.
What Is Content Syndication?
In this digital era, content syndication has emerged as a powerful tool for fintech companies to engage with their users, build brand awareness, and establish themselves as trusted financial partners.
Content syndication involves sharing informative and educational articles, blog posts, or videos with third-party platforms, such as Microsoft Start, Yahoo, AOL and others to reach a wider audience. By strategically distributing their content across multiple channels, fintech companies can amplify their brand message, attract new users, and establish their position as a source of reliable financial guidance.
Users who encounter their content on trusted platforms become more familiar with the brand and its offerings. Consistent content syndication helps fintech companies build brand recognition and awareness both through organic and referral traffic, increasing the likelihood that potential customers will consider their services when making financial decisions.
Who Users Content Syndication?
Several fintech companies successfully leverage content syndication to find new audiences and establish their brand as a thought leader.
SoFi: SoFi, a leading online personal finance company, actively creates syndicates its educational and editorial content, including articles, videos, and infographics, to various platforms, such as Micrsosoft, YouTube, and social media channels, largely through its editorial vertical, On the Money. This strategy has helped SoFi reach a broader audience and establish itself as a valuable source of financial education, sharing informative and engaging content on budgeting, investing, and student loan management.
Personal Capital: Personal Capital, a popular personal finance management platform, regularly syndicates insightful articles and blog posts to reputable platforms like MSN, Forbes, and The Motley Fool. This content syndication strategy has helped Personal Capital attract millions of users and establish itself as a trusted source of financial information. By sharing expert advice on retirement planning, investment strategies, and tax planning, Personal Capital gains credibility among potential customers and strengthens its brand reputation.
NerdWallet: NerdWallet, a well-known personal finance comparison website, syndicates its expert-written reviews, comparisons, and guides to various platforms, including MSN, Yahoo Finance, and other financial publications. This content syndication strategy has helped NerdWallet become a go-to resource for consumers seeking unbiased financial information. By providing comprehensive and transparent reviews of financial products, NerdWallet attracts potential customers and establishes itself as a trusted financial advisor.
QuickBooks: QuickBooks, a leading accounting software provider for small businesses, syndicates its informative articles, blog posts, and webinars to platforms like MSN, Entrepreneur, and Small Business Trends through its editorial vertical, The Quickbooks Resource Center. This content syndication strategy has helped QuickBooks reach small business owners and establish itself as a valuable resource for financial management. By sharing practical tips and insights on bookkeeping, tax compliance, and business growth, QuickBooks attracts potential customers and positions itself as an essential partner for small businesses.
Credit Sesame: Credit Sesame, a credit monitoring and improvement platform, syndicates its educational content, including articles, videos, and infographics, to platforms like MSN, Investopedia, and The Ascent. This content syndication strategy has helped Credit Sesame find a broader audience and show that it's a trusted resource for credit education. By sharing valuable information on credit score factors, credit repair strategies, and responsible credit management, Credit Sesame attracts potential customers and positions itself as a reliable guide for improving credit health.
These examples showcase how fintech companies leverage content syndication to expand their reach, establish thought leadership, and engage with potential customers. By consistently sharing informative, engaging, and relevant content, fintech companies can amplify their brand message, build trust, and position themselves as trusted financial partners in the ever-evolving digital landscape.
What Are the Benefits of Content Syndication?
There are myriad reasons such big companies are diving into syndication. Content syndication offers several benefits for businesses, including expanding reach, enhancing brand awareness, establishing thought leadership, and driving website traffic. By strategically distributing their content across multiple platforms, companies can effectively amplify their brand message, attract new visitors to their websites, and establish themselves as trusted sources of information.
Here's a closer look at some of those advantages.
1. Establishing Editorial Authority and Trust
By consistently producing and sharing valuable content, fintech companies can position themselves as legitimate sources of information about the financial industry. Demonstrating their knowledge and expertise through informative and well-researched content establishes trust and credibility among potential users. This thought leadership fosters loyalty and encourages users to seek the company's products and services.
2. Educating and Empowering Users
The financial landscape can be complex and overwhelming for many individuals. Fintech companies can use content syndication to provide users with easy-to-understand and actionable financial education. By sharing informative articles, blog posts, or videos on budgeting, investing, or retirement planning, fintech companies can empower users to make informed financial decisions and take control of their economic well-being. This educational approach benefits users and builds a positive reputation for the company as a trusted financial partner.
3. Driving Website Traffic and Lead Generation
Content syndication is a powerful tool for driving traffic to a fintech company's website. When syndicated content engages users, they are likelier to click through to the company's website to explore its products and services. This increased website traffic provides opportunities to educate potential customers about the company's offerings, capture leads, and convert visitors into customers.
4. Cost-Effective Marketing Strategy
Compared to traditional marketing methods, content syndication offers a cost-effective way to reach a large audience. Instead of investing heavily in advertising campaigns, fintech companies can leverage the existing reach of established platforms to distribute their content. This cost-efficiency allows fintech companies to maximize their marketing ROI and achieve their business goals.
Strategies for Effective Content Syndication in Fintech
To effectively engage with their users through content syndication, fintech companies should consider these strategies:
Content Quality and Relevance: Create high-quality, informative, engaging content that resonates with your target audience. Ensure your content is well-written, grammatically correct, and relevant to your users' financial needs and interests. This content must be journalistically sound, meaning its purpose is to educate and inform, not sell. As users gain trust for the platform because of its authoritative and transparent content, they may ultimately convert to customers, but that’s not the immediate goal of the content itself.
Platform Selection and Audience Understanding: Carefully select the platforms to which you will syndicate your content. Look for platforms that have demographics, interests, and online behavior that are similar to those of your audiences. Understand the nuances of each platform's audience to ensure your content resonates effectively.
Content Optimization and Adaptability: Tailor your content for each platform's specific audience and format requirements. Consider factors like length, style, tone, and multimedia elements to ensure your content fits seamlessly into each platform.
Tracking and Analysis: Monitor the performance of your syndicated content across different platforms. Use analytics tools to track engagement metrics, identify successful content formats, and optimize your strategy accordingly.
Consistency and Regularity: Maintain a consistent syndication schedule to keep your audience engaged and coming back for more.
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