Around 33% of UK consumers don’t trust their banks, a recent study has found – but they are more likely to if the banks engage in content marketing, Fourth Source reports. It seems that content marketing should not be overlooked even in the niche banking market.
Since banks affect the everyday lives of almost every individual on the planet, they are in the perfect position to offer numerous articles centred on monetary advice, the article notes. A recent study – the Trust Transaction study – shows that providing content is no longer classed as a bonus, but rather a necessity; banks are continuously judged on whether they provide enough content and on the quality of the content they do provide.
The study questioned 1,000 consumers in August of this year and found that 50% would be likely to stay with a bank they were considering leaving if it began publishing insightful content.
The most digitally-engaged consumers are those aged between 18 and 24, but those aged over 66 read the most material related to personal finance on a weekly basis. Two thirds of the 18-24 demographic trusted their bank more if it published helpful content on different online channels, and 59% said they spent longer on the bank’s website when targeted articles were featured. On top of this, 40% said they would share published content on social media if they found it useful and interesting.
The type of content published does need to be carefully considered, however, as only 20% of respondents said they would trust promotional material if it were published by the bank itself.
Banks that publish interesting content see impressive ROI, the report concluded, with 31% of respondents saying they signed up to more products and services due to the influence of well-constructed and targeted content.