The Importance of Powerful Copywriting for Finance Brands
Whether you’re a bank, fin-tech, brokerage firm, or a credit card company, you want to thrive. To do that, you need to get your point across in a unique and persuasive way, so people choose you over the competition.
But that’s becoming more difficult in such a saturated market. Just to give you an idea of how crowded the scene is: In 2021, there were 10,605 fintech startups in the Americas alone. The majority of these companies offer the same benefits. They let you set up direct deposit so you can get paid up to two days early. They offer 0% APR cash advances. They offer a plethora of cashback rewards. They…you get the idea.
So in a sea of the same, how do you attract consumers like a lost moth to a flame? In a land of lackluster, how do you make your brand stand out? Glad you asked. One of the best ways to do that is with solid writing — meaningful copy that builds trust and positive sentiment.
In this article, we will talk about the importance of solid copywriting, specifically for finance brands.
Build Trust in an Untrustworthy Market
If you look back at traditional banks’ track records, it’s easy to see why over 50% of Americans do not trust them. The Great Depression, the housing crisis of 2008, or even Well’s Fargo $3B fraud case, identity theft and falsification of bank records gives us real reasons not to trust any financial institution — whether that be brick and mortar or online.
This is where solid copy needs to come in and save the day. The most important thing is to be as transparent, straightforward, and as meaningful as possible. Let people understand what your company is all about and stand for something worthwhile.
A perfect example of this is the fintech Greenwood, “A digital mobile banking experience made for Black and Latino customers.” Greenwood was founded by three highly influential black entrepreneurs, entertainers, and politicians — including rapper and activist Killer Mike. They stand for providing a financial system that will help marginalized communities grow and build their future. All of their copy acknowledges the past and commits to making a difference.
A great line that exemplifies their mission: “For one and for everyone.”
Stand Out From the Rest Finance Brands
There’s a reason why David Bowie, Prince, and Dali will always be remembered. They did their own thing. When people wore pants, they wore dresses. When others played it safe, they said f%$# it. And when the status quo painted what was considered popular, they created dreamscapes that ignited the imagination.
Along with original art design, copy is a great way for financial brands to position themselves in a fresh and fun way. You can become an original brand in a somewhat tepid lake of normalcy when you have a strong and unique foundation of who you are as a company. Your voice has the ability to be a memorable personality people gravitate towards.
For example, ETrade took the serious and stuck-up realm of investing and flipped the whole idea on its head when they introduced “Don’t get mad, get ETrade.” This simple and funny slogan created a wealth of relatable content that entertained and spoke from a place of honesty.
When other companies wanted to be serious, ETrade offered a funny perspective on investing, which translated to their success.
Make Finance Content Easy to Understand
Let’s face it; banking is complicated. In the past, this is something that many companies have used to their advantage. Because if you do not understand the game, how can you play it with confidence? However, more and more consumers are seeing the BS behind a lot of traditional banking and want to work with companies that make everything easy to understand. The best way to do that is with simple and straightforward copy.
Good financial copy as part of a solid digital marketing strategy has the ability to teach customers about their finances and help them learn the ins and outs of everything ranging from budgeting, investing, paying off debt, buying crypto, and more.
Great Copy Fuels Financial Branding's Future
Many financial companies tend to talk and sound the same. They offer similar products, use the same user-generated content, and many times have the same deals and giveaways. This makes it so many companies are looked upon more as commodities rather than a unique brand.
But luckily, there are writers out there who want to create copy that’s fresh, honest, and unique. These creatives can craft a voice, tone, and style that educates while it entertains and ultimately creates a long-lasting relationship with customers.