It is essential for companies that operate in a specific area to produce web and advertising content that interests their target demographic.
If you have a product with a narrower scope, you will have fewer customers, but the rewards for having good content are higher. If you ignore this, the consequences will be more severe.
The finance sector is a great example of this. As companies develop technology that provides more value to users, brands are striving to keep up with the competition. In order to stand out, they need to be direct and creative with their content.
This is a tricky task, though. Financial copywriting is especially complex as it often involves communicating advanced technical or legal concepts while still attempting to remain engaging and enticing to audiences.
Striking this balance is vital, and requires a writer who can demonstrate not just technical expertise, but:
- An understanding of audience pain points
- Ideas on how to build attractive and helpful content
- The ability to convey product value in both long- and short-form types of content
There are many problems that come with trying to establish your brand’s voice as an authority figure in finance.
Financial copywriting
Financial copywriting is the writing of persuasive words for businesses in the financial services industry to increase their client base. The businesses can be fintechs, banks, accounting firms, or financial advisors.
Copywriting in general tries to get people to take some kind of action, but financial copywriting is more difficult because it has to be done in a way that complies with regulations and doesn’t overwhelm the reader with too much complex information.
This is why good financial copywriters know how to make these topics relatable and understandable to the average person. This is why they put in the effort to write good financial text that gives people peace of mind.
Financial copywriting examples
This article looks at how financial and fintech companies are managing the challenges they face and how using experts can improve your content campaigns.
1. Robinhood
Since the end of 2019, retail investing has exploded. This is when people trade stocks and other financial instruments on their own instead of hiring a professional to do it for them.
The biggest reason for the popularity of online trading is the ease of access it provides; mobile trading apps like Robinhood, TD Ameritrade, and eToro make it possible for anyone to access the financial markets.
- In terms of copy, Robinhood has captured the sentiment behind retail investing perfectly. Playing on the mythical activities of its namesake, its marketing materials regularly make reference to “democratizing the market”, with the company’s homepage announcing that they offer “investing for everyone”.
- This messaging reinforces the idea that the average person on the street can now get access to the stock market, which has traditionally been the reserve of institutional players such as banks and equity firms.
Despite some recent PR difficulties, Robinhood has had a significant impact. 700,000 users signed up to the platform before it had even launched in 2015, and that number has reached 13 million in 2020.
You need a budget (YNAB)
A study by Business Insider in 2021 showed that 97% of millennials would rather do their banking and manage their finances online. There are a lot of mobile apps that are targeted at this demographic.
However, copywriters need to tread cautiously in this space. They should understand the main financial issues facing millennials, which include heavy debt and lack of access to the property ladder, as well as their financial goals.
An accusation that is common is that millennials waste money, but a study that was done in 2020 by Bank of America shows that saving for retirement is actually a high priority for this generation.
Copywriters have to go beyond clichés and uncover the authentic trends- while also demonstrating that they comprehend what their target market is in search of.
- You Need A Budget (YNAB) does exactly this, encouraging readers to “stop living paycheck-to-paycheck, get out of debt, and save more money”. In one sentence, they identify the core financial problems facing their target audience, and offer them a way to help them overcome these issues.
2. Mint
It can be challenging to come up with new and original content when writing about financial topics. Phrases such as “on the go”, “at your emails”, and “in the palm of your hand” may have been fresh five years ago, but they are now massively overused.
These examples from Burling Bank, HSBC, and Natwest are not inspiring.
Your copy needs to be unique and focus on what makes your product or brand different to make it stand out. Mint is a popular personal finance app that is a good example of how to manage your finances.
- It’s headline copy makes direct reference to its modern approach, but is also a playful homage to the company’s name (mint = fresh).
- It also positions the brand as modern and progressive. Traditionally, marketing materials for financial products were serious and formal, but by introducing itself with wordplay and humor, Mint immediately suggests a different way of doing things — both literally and figuratively.
3. Monzo
One of the key features of modern financial copywriting is that it needs to be able to communicate technical financial terms in a way that is easy to understand, while still being catchy.
Monzo is a banking app that is designed to be easy to use. This is reflected in their landing page. Take this segment, for instance, that promotes its savings accounts:
- Some readers will understand what is meant by a “0.27% (AER/Gross fixed) interest” savings account, but there’s a good chance that many won’t. Monzo bridges this gap and ensures that everybody understands the value of its product by breaking it down into simple terms: “Fixed means the money will be locked away for 12 months while you earn interest on it.”
- By explaining its financial products to readers in this way, Monzo is more likely to attract first-time investors with little knowledge or confidence of how such instruments work — and all without sounding condescending, too.
4. Credit karma / PwC
In the past, people who wanted to buy financial products would meet with an expert in that area in person. Although meetings in person are becoming less common as banks and other organizations move their operations online, there are still some occasions where this type of meeting is necessary.
It can be challenging for copywriters to recreate a personal touch in their content, but it is an important step for establishing a relationship – especially when financial products are involved.
- Credit Karma is a good example of how a finance brand can adopt a conversational tone with readers, and go some way to replicating that sense of interaction between people.
- It also communicates both the pain point of the customer and the company’s solution; not bad for just two simple sentences.
In the past year, we’ve seen B2B companies such as Intercom, Salesforce, and Slack ditch their old websites too Not only do disruptor B2C apps understand the value of this approach, but we’ve also seen B2B companies such as Intercom, Salesforce, and Slack ditch their old websites in the past year. Global B2B financial giants — such as PwC — are also adopting a conversational tone in their copy, as this example (taken from their ‘Services’ page) illustrates:
- Inviting potential clients to “have a look” at the products they offer is more reminiscent of a small retail shop than a multinational corporation, and the phrase “let’s talk” is a casual invitation that creates a relaxed sense of close personal interaction.
5. Ellevest
Ellevest focuses on helping women invest their money, and has created a unique space for itself among other investment apps.
Ellevest’s homepage uses a bold font and a conversational tone. The design featuring black text on a white background makes the call-to-action button more noticeable, and the image is in keeping with the text, with the amount of money ‘$15,000’ prominently featured.
Ellevest’s copy is designed to be simple and non-intimidating, in line with its goal of making financial planning accessible to everyone. The pricing page on their website is an example of how they remove obstacles in creative ways.
Ellevest’s product is so affordable that all you need is $1. The CTA button’s text ‘Become a member’ implies that only members can access the content, which encourages conversions.
The “Invest” page is an excellent example of how well copy and design can work together. The headline is cheeky without being off-putting. This subheading contains text that suggests others approve of the product, that any issues have been resolved, and that the product is technologically advanced.
The words “from a source of stress to source of strength” show directly how money can be a source of pain for people, while “award-winning” and “investing algorithm” suggest that the company is successful and has technical knowledge.
This text is accompanied by an image that demonstrates how straightforward the onboarding process is. Ellevest’s use of words like “smart” and “successful” speaks to how their potential customers view themselves, making the product more appealing.
Ellevest’s website does a good job of making women feel empowered, educating them about financial planning, and keeping things sophisticated.
6. C2FO
While Ellevest occupies the mainstream in fintech, C2FO is a more niche offering. The website is geared towards business owners who want to reduce the amount of stress that comes with small business financing.
The company is in a very competitive market for online loans, where bigger companies offer loans for both individuals and businesses.
C2FO should continue doing what it is doing and remain focused on its target consumers. This company does a good job of using its homepage to provide information to its customers.
The headline is clear and tells the reader what the company has to offer. This company is flexible and customer-oriented, which will appeal to business owners.
The company can improve their ranking on search engines by using keywords like ‘working capital financing’ and ‘improve cash flow’.
C2FO’s ‘Vendor’ page directly addresses business-owners’ biggest pain point. The headline could easily be the subheading given its length, and vice versa. This is an indication that A/B testing may be happening.
Copywriting that is great financially is a lot more than just words on a screen. Financial copywriters who are good at their job make the information they are conveying easy to understand while providing the reader with additional options to explore the topic further if they want to.
C2FO uses an image on its pages to list benefits in a way that is easy to understand. The image presents numbers that show the benefits of using C2FO. The company has provided detailed answers to frequently asked questions for those who want more information.
The language used in these lists is more complex than the language used in the headlines above. Given its B2B focus, using industry-specific language is OK. It establishes authority. The reader will trust C2FO because it is clear that they know what they are talking about.
C2FO increases trust by including testimonials and case studies with text and video. The testimonial is effective and speaks about the advantages, while the video provides viewers the option of exploring more.
C2FO is doing a good job at making its copy more appealing to a narrower audience. It projects positivity and assistance.
7. First direct
The neobank’s copy is both funny and serious. The website’s homepage has a white background with black text to make headlines more visible.
Lowercase letters are more informal, while still conveying a message of authority. It also keeps everything consistent with brand styling guidelines. The red highlight accentuates the message further.
A company’s social proof is very important in an industry like fintech where there is a lot of change.
First Direct bank uses a survey to show a simple image. A good copywriter knows when to let the images do the work, rather than filling the text with too much information.
Banks are using more and more quirky graphics on their websites instead of traditional stock photo-like images. Instead of people smiling at laptop screens, First
This bank uses inclusive graphics that are easy to understand, as well as traditional menu choices. This text tells users what actions they can take, and is straightforward.
This combination of being both quirky and serious also extends to the descriptions of accounts. Saving money can be easy and fun when you follow the rhyme, ‘save a little, save a lot, lock it away or dip into it every day.’ Our savings accounts have great features that make saving money simple.
First Direct uses Informal language and technical descriptions interchangeably throughout its website. The bank has a consistent brand image that makes it stand out from other traditional financial institutions.
Conclusion
Copywriting that focuses on finance can help you create a strong position in your industry. The content that makes up a website or social media page is known as copy. or services. Your website will have a difficult time attracting customers and persuading them to examine your products or services more closely if it doesn’t have great copy.
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