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Banking on Digital Growth Podcast

How to Compete With the Big Banks on a Limited Marketing Budget

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Brief Summary of Episode #49

It’s no secret that the COVID pandemic has impacted everybody’s budgets. 

But the businesses that are really feeling that pinch are the smaller community financial brands. 

The “mom and pop” shops.

The local credit unions. 

They obviously don’t have the resources that a big bank has, so how do you stay fresh, current, and relevant when it comes to content marketing when you’re operating on a reduced budget? 

I think it really comes down to four types of content that we can be thinking about as a financial brand. 

1. Empathetic content

It’s all about getting customers to like you. About getting them to trust you at an emotional level. 

2. Educational content

They’re at the consideration stage of the buying journey, and you can nurture the relationship, and reinforce your expertise.

3. Empowering content

You’re empowering people to make confident decisions with things like ebooks, buying guides, quizzes, assessments, etc. 

4. Elevating content

Right at the moment of truth, when someone is ready to click the “apply” button and they need a little more inspiration, you can deliver it. 

You let them know you’ve done this before, and you can do it again, and you can get them where they want to be. 

Key Insights and Takeaways

  • The four types of content to think about as a financial brand
  • The biggest barrier to success when it comes to content marketing
  • Why understanding the hero’s journey is crucial to getting content marketing nailed
  • How content marketing can empower both community financial brands, as well as regional banks, to compete with the big banks.