Young players convince bankers with storytelling
Many people believe that bankers are all about numbers, statistics, tables and graphs. However, managers and consultants are becoming more and more interested in storytelling techniques. They can be used to tell stories around products and companies in an emotional and gripping way. Their use in the financial industry is already increasing among emerging startups and large banks.
Despite the complexity and diversity of the industry, bankers and financial service providers are commonly seen as a grey mass. The difference is usually so marginal that a credit card would effortlessly fit between the competing companies. But by using stories, brands humanize and emotionally connect with their customers. Through narratives, they tap into the listener's emotions in a way that no chart or list of financial products can match.
Financial sector brands that are high on storytelling are always finding fresh innovative ways to position themselves in the marketplace. These useful tips and great examples show how:
1.) Think beyond the piggy bank
Consumers want to be on the safe side with their finances. However, the pressure to live on a fixed income, plan for retirement and guarantee a worry-free future for the children is almost overwhelming. But if financial services providers begin to connect their offerings to the needs of their clients, this can quickly impress and attract potential new customers. Here, for example, stories that go beyond the mere service offer themselves.
2.) Connecting what belongs together: money and emotions
Financial service providers often think about money in a very abstract and technical way. For the clientele, however, wealth is always related to feelings. A student savings fund is not about euros and cents, but about securing a future for the children. A savings plan for old age is about living a happy life, travelling the world and passing on savings to offspring and grandchildren. Financial service providers should always be mindful of this. The bottom line is that emotions are ultimately the key to success for lasting customer loyalty. In particular, the fulfilment of dreams makes hearts beat faster.
3.) Conveying security with looseness
Banking services and financial products are of course always about the respective advantages and features. But first of all, customers have to be brought to your own website in order to convince them of the products and to explain the specific financial aspects. Content focused on numbers tends to scare off potential customers rather than arouse their interest. Short and simple scenarios that everyone can relate to are more likely to appeal to searchers.
On his Instagram channel and on the website, the payment system Klarna this in a very appealing way. With statements such as "We are problem solvers - rely on us!" or "Together we are smooth", the company conveys a sense of security in its own style and at eye level. Especially for the target group of up to 50-year-olds, who do a lot of online shopping, this approach is very appropriate and specifically adapted to the needs of their lifestyle. However, questions such as "No time for sport, but queuing for new sneakers?" or "At ASOS page 49, but housework page 1?" also appeal to potential customers with humour and realistic situations. Accordingly, the tone of the brand should be maintained and fit the target group.
4.) Employer branding through employee charm
Money has long ceased to play the biggest role in the choice of employer. This has also arrived in the financial sector. In addition to the work-life balance and other benefits, fun at work and a pleasant working atmosphere are of great importance nowadays. Potential applicants research and inform themselves about this well in advance. The social media presence of financial companies takes on just as important a role here as the website. This also includes a look at the company's Instagram channel to get a first impression. If the company appears likeable and represents the values of the applicants, the interest increases in any case.
Wrapping facts skilfully
The examples show, for the financial industry, brand storytelling is definitely one of the best ways to reach a broad audience and describe the story behind the particular brand.
The new and young players in the industry already know how to break up the dusty image and captivate customers. Because in a world dominated by numbers, words and narratives are just as, if not more, important to reach people and, above all, to win their trust.
True to the motto "You can't play with money", it is primarily important for the target groups to know that their capital is in safe hands. Probably the biggest challenge: to connect the entire brand presence on all channels with storytelling. Starting with the landing page and the company story to the red thread that runs through the advertising campaigns and social media channels.
Especially in an environment where one product is similar to another, the best chance to tell a compelling story is to stand out. For example, by not focusing on the financial service, but by directly addressing the customer with his or her wishes, needs and lifestyle.
In her book Storytelling for companies Miriam Rupp describes how stories lead to success in content marketing, PR, social media, employer branding and leadership.
Source: Mashup Communication GmbH
