The coronavirus (COVID-19) is the dominant topic right now, which influences the daily routine of almost all people and companies. No one really knows how many people will be infected, but it has caused the global stock markets to crash, which means as a business operating in finance, you will be affected. It’s estimated that in total COVID-19 will cost the global economy $2.7 trillion.
As cases of the coronavirus increase globally, finance brands try to navigate through the pandemic. Big conferences were canceled and many marketing teams are forced to switch gears away from event marketing and think of alternative ways to proceed with their marketing approach while keeping the health of others in mind.
The Importance of Content Marketing
Amid the fear of doing “offline” marketing these days, marketers in the finance industry should turn to content marketing strategies delivered directly to their followers online to stay engaged with their clients. Content marketing has evolved from writing just blog posts. It’s a holistic approach that relies on a broad range of digital marketing channels such as email, social media, SEO, and paid media to continue engagement with customers.
Content marketing can become an effective way to remain in touch with clients and increase lead generation during the pandemic. With the ever-changing digital landscape, communicating and engaging with your audience can remain undisrupted, no matter what the situation is – as long as you have the proper content marketing strategies in place.
Don´t Exploit the Situation
What finance companies always should have in mind is to not exploit the current situation. Marketers should avoid to make a quick buck out of fear. Not only is it morally wrong but it is also very short-sighted. Sure you may be able to make a quick buck, but it won’t last. You are better off spending your time on anything that is long term.
There is a famous quote from Warren Buffett, “Be fearful when others are greedy, and greedy when others are fearful”. While this might be true for people who want to invest, it should not be true for your marketing strategy during the crisis. This is not the right time to market your new fancy investment products or services. What clients are really seeking right now is valuable information. Experts are saying that we are going to go into a recession, which is the perfect time for your finance brand to build trust and care for your clients – believe me, they will remember you when the crash is over.
Goldman Sachs: “We´re Here to Support You”
A great example of this could be seen by Goldman Sachs, the global investment banking, securities and investment management company. They are providing a lot of useful content related to the current situation which is spread over all channels. There is a blog category on their website related to all research and insights related to COVID-19. Economic and investment implications of the coronavirus are getting discussed through client notes, podcasts and research articles.
On social, you can see their slogan “We´re here to support you” – which should be the motto for all companies in the finance industry right now.