Multiple challenges surface when creating content for a finance company.
Dealing with legalities tops the list, but there’s more. Much more.
In working with multiple companies in the financial sector and ghostwriting for top investors/financial CEOs in the pages of Forbes and other business magazines, I’ve had my share of difficulties.
Below, I share challenges marketers face when creating content for financial services brands – with a sharp focus on written content – and solutions to those challenges.
But first, let’s discuss what should guide your focus New Zealand Phone Number when creating content within the financial industry: Google’s YMYL and E-A-T concepts. Best database provider | Classy Database
Understanding Google’s YMYL/E-A-T Content Guidelines For Finance
In the wake of the censorship uproar, Google took precedent to create special algorithmic considerations for information it deemed important relating to fields, such as financial advice, current events, politics, legal advice, etc.
The rationale was easy – bad financial advice leads to potentially devastating financial consequences for innocent people.
The last thing Google wants for its brand is to present bad financial information that negatively impacts your money and life.
That’s why Google refers to important content, like financial advice, as Your Money, Your Life (YMYL) content.
Google provides an explanation of how they evaluate and rank YMYL content from their report titled How Google Fights Disinformation:
With that statement said, I want you to keep in mind three relevant keywords: expertise, authoritativeness, and trustworthiness.
These characteristics would later comprise Google’s infamous E-A-T, part of Google’s algorithm and baked into Google’s Search Quality Evaluator Guidelines
Unfortunately, Google’s algorithm isn’t smart enough yet to understand how viable financial advice is, so they have to consider signals such as author expertise and authority in ranking content.
It’s why the first four results for the search [how to do my taxes] are all brands and top-level domains we recognize or trust:
However, this presents a significant challenge for smaller brands and businesses looking to tap into the finance sector through organic search.
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See all your organic keywords in GA and their specific performance metrics. Free Trial. Cancel anytime. Professional support. 4-minute setup.In addition, there are legal and other financial concerns that arrive with financial content creation.
Financial Services Content: Common Challenges & Solutions
1. Competing In Organic Search
Due to the strict measures of Google’s EAT and YMYL guidelines, a financial blog or website will never be able to compete with a Turbotax or Nerdwallet.
The most obvious solution is to generate thought leadership for their brand.
Of course, this presents a proverbial catch-22.
To build authority, you need exposure, but Google makes that very difficult for broad topics that provide the most exposure.
Here are some solutions to up our content game and present unique ideas.
- Become a thought leader by writing guest posts for reputable blogs, writing a book or ebook related to your industry, or establishing a brand over social media.
- Target long-tail keywords for unique topics with lower search volume that is more targeted to your audience.
2. Complying With Regulations
Like medical businesses, false information can quickly get your client into trouble with authorities.
And of course, this will ruin your image, something that’s hard to build when you’ve been the focus of much negative criticism.
Unfortunately, financial services, especially, have some of the most intense regulatory scrutinies when it comes to producing online content, sharing it over social media, and advertising your brand.
FINRA (Financial Industry Regulatory Authority) is a well-known regulatory agency that monitors everything over social media from influencers to financial services content.
FINRA’s rules intend to “protect investors from false, misleading claims, exaggerated statements, and material omissions.”
In addition to FINRA, there are a number of additional regulations that tap into every niche of financial services content.
For example, the Office of the Comptroller of Currency has strict rules in place regulating the accuracy, clarity, and compliance of content specifically related to banking services.
3. Finding Knowledgeable Writers
In the solutions above, I outlined the need to find writers that have expertise in financial and regulatory matters.
However, as someone who’s managed a team of freelancers for years now, that’s certainly easier said than done.
The largest problem is finding those that are subject matter experts. Once you do find an expert, two other issues surface. The writer is either too expensive for your budget, or they simply can’t write well.
- Reverse engineer E-A-T. Find writers on high-ranking SERP articles and offer them a freelance partnership (if in the budget –many of the best finance writers won’t touch articles for under $1 a word or $750 per piece!)
- Use LinkedIn to create exact ads about what you’re looking for, with examples and budget in mind. You’ll get much noise there, but you’ll find someone capable. My success rate for riders is about 10% – yes, one out of every 10 writers is typically capable of creating the content needed.
- Hire and train in-house writers.