Hit Record Podcast - FI GROW Solutions FI GROW Solutions

In this conversation, Meredith Olmstead, CEO of FI GROW Solutions, and Rebecca Gwaltney, FI Grow's inbound marketing manager, delve into the critical role of Search Engine Optimization (SEO) for banks and credit unions. They explore the latest trends in consumer search behavior and discuss strategic SEO practices aimed at boosting the online presence of financial institutions.

Key Takeaways:

1. SEO is Fundamental for Visibility: SEO involves optimizing content with relevant keywords to ensure a bank or credit union's services appear prominently in search engine results. This visibility is crucial for attracting potential customers searching for financial products or solutions.

2. Trends in Consumer Searches Influence Strategy: Consumer search behavior, including the volume and nature of searches, guides the content and product offerings of financial institutions. For instance, rising searches for debt consolidation loans indicate a market need that banks and credit unions can address through targeted products and content.

3. Local SEO and Long-Tail Keywords Offer Competitive Edges: Incorporating local keywords into content can significantly improve a financial institution's visibility in specific regions. Additionally, long-tail keywords, which are more specific search queries, can attract a more targeted audience with less competition, offering a strategic advantage in content marketing.

In this episode, Meredith Olmstead and Sophie Bawany, of  FI GROW Solutions, are chatting about how to build trust and credibility through social media specifically for banks and credit unions. The conversation delves into the evolving landscape of social media for financial institutions. Their discussion highlights the enduring importance of social media for banks and credit unions, focusing on building credibility and fostering genuine connections with customers.

Key Takeaways:

1. The Core Purpose Remains Unchanged: Despite the rapid evolution of social media platforms over the past decade, the fundamental reasons for financial institutions to engage in these spaces have remained constant. It's all about building relationships, ensuring authentic engagement, and expanding visibility among both existing and potential customers.

2. Authenticity and Transparency Are Paramount:  This method not only establishes trustworthiness but also adds a human touch to these organizations, making them more approachable and reliable to the general public. The power of authentic storytelling and clear communication is emphasized as effective tactics to inform and connect with audiences.

3. Engagement and Education Are Crucial: A successful social media strategy for banks and credit unions involves engaging the audience with accessible, educational content that demystifies financial processes. Genuine stories, practical tips, and direct interaction on social platforms are key to maintaining relevance and fostering a loyal community.

Meredith Olmstead and Kristin Mock, of  FI GROW Solutions,  dive deep into the crux of enhancing user experience on digital platforms for banks and credit unions. Their insightful dialogue sheds light on common pitfalls and strategic maneuvers essential for any financial institution aiming to refine its digital branch.

Key Takeaways:

Monitor Key Indicators to Spot UX Issues: A high bounce rate and poor conversion rates are glaring indicators that your website's user experience (UX) may be lacking. 

Embrace the 'Three Click Rule' for Navigation: The digital journey on your website should be as frictionless as possible. Adhering to the 'three click rule'—ensuring that users can find any information or service within three clicks—is a good practice, albeit with flexibility for modern web navigation standards. 

Avoid Overloading Pages and Obscuring Products: Cluttering a single page with too many products or services can overwhelm users and dilute the SEO effectiveness. Each offering deserves its space to shine, particularly when catering to distinct customer segments. 

Meredith Olmstead and Ida Burr, of FI GROW Solutions, delve into the evolving landscape of digital marketing for financial institutions, focusing on the impactful role of YouTube Pre-Roll ads. Their discussion sheds light on this innovative strategy, emphasizing its potential to significantly enhance the marketing efforts of banks and credit unions. 

Key Takeaways:
1. High Conversion Potential: YouTube Pre-Roll ads stand out for their ability to engage audiences and drive direct conversions, such as completed applications, making them a powerful tool in the digital marketing arsenal of financial institutions.
2. Targeted Engagement: Effective targeting and content strategies are key, with ads designed to be short, engaging, and equipped with a clear call to action. 
3. Cost-Effective Campaigns: Budgeting insights reveal that these ads offer a cost-effective approach to digital advertising, with a focus on conversions over mere impressions. 

Meredith Olmstead, CEO and founder of FI GROW Solutions, and Dean DeCarlo, President of Mission Disrupt, engage in a discussion about the increasing significance of user-generated content (UGC) in the financial sector, specifically focusing on banks and credit unions. This conversation provides a deep dive into the strategic use of UGC as a tool for building trust, enhancing customer engagement, and strengthening the overall marketing efforts of financial institutions.

Key Takeaways:
1. Importance of User-Generated Content in Building Trust: UGC, such as reviews and customer testimonials, is crucial for financial institutions in establishing trust and credibility with their audience. This content, often shared on platforms like Google My Business, Facebook, and Instagram, serves as a third-party endorsement, offering prospective customers genuine insights into the experiences of current customers. 
2. Strategies to Encourage UGC: To increase UGC, financial institutions should implement intentional strategies. This can include automated SMS or email campaigns triggered by specific customer actions like loan funding or account opening. These campaigns should make it easy for customers to leave reviews by providing direct links to review platforms.
3. Influencer Marketing as a Form of UGC: While slightly different from traditional UGC, influencer marketing is a powerful tool for banks and credit unions. Influencers, with their established trust and audience on platforms like TikTok, Instagram, and YouTube, can effectively communicate the value of financial products and services. 

Meredith Olmstead and Ida Burr, of FI GROW Solutions, explore the dynamic intersection of Artificial Intelligence (AI) and digital advertising, shedding light on how this technology can be leveraged to enhance marketing strategies. They discuss the practical applications of AI in creating and optimizing digital ad campaigns, emphasizing its role in not just streamlining the process but also in adding a layer of sophistication and effectiveness.

Key Takeaways:
1. Evolution and Integration of AI in Digital Ads: AI is not a new concept in digital marketing. Tools like Google have long utilized AI for keyword suggestions and ad campaign optimization. However, recent developments, such as chatbots and tools like Google Bard and ChatGPT, have introduced more interactive capabilities.
2. AI as a Tool for Enhancing Creativity and Efficiency: AI tools are being used to enhance the creative process in developing digital ads. By analyzing specific landing pages, these tools can suggest appropriate keywords, headlines, and ad descriptions that match the content. 
3. Strategic Application and Limitations of AI in Ads: While AI can significantly aid in the ad creation process, it's essential to use these tools strategically. Marketers should not rely solely on AI-generated content; it should be treated as a starting point or inspiration.