How Content Marketing Can Help Improve Financial Literacy

May 26, 2017: Jennifer Kohnhorst, Content Strategist

Financial illiteracy is a growing and widespread problem in the United States. It is not confined to one gender or age group, and it’s affecting the way that Americans invest and save—or don’t.

A recent survey conducted by Stash, a digital investment firm, concluded that Americans are confused and uninformed about basic financial concepts. The Stash survey builds on a 2015 FINRA Financial Investor Education Foundation study that gave two-thirds of America failing grades on its national Financial Capability Test.

Stash constructed a short quiz assessing knowledge of basic financial concepts like interest rates, investment and compounding interest. The answers reveal that we are no better off than we were two years ago. Stash surveyed its users and the general population, compiling 27,000 responses. Here are some of the more startling takeaways:

  • 16% of people prefer a higher (vs. lower) interest rate on their loans
  • 38% of those surveyed don’t know how compounding interest works
  • 40% of people don’t understand how inflation works
  • 41% of people don’t understand diversification and its advantages
When asked how financial illiteracy might be remedied, experts often point to financial advisors. But if Americans lack a fundamental understanding of financial terms, they need financial education before they are ready to seek the help of a financial advisor. That’s where financial institutions can come in.

Content Marketing Offers Relief

Content marketing is a perfect vehicle for providing financial education. By publishing keyword-rich, value-added content that educates your audience on financial principles you accomplish many goals simultaneously. These include:

  • Helping foster financial literacy and wellness within your target markets
  • Establishing yourself as trusted resource for financial expertise
  • Leveraging search engine marketing, social media and remarketing to drive readers to your content
  • Guiding existing and potential clients to conversion by using content to position your products and services 
Depending on your business goals, there are many strategies to utilize content marketing to promote financial education. Contact us to learn more about how we’ve helped banks and credit unions develop and grow their content marketing strategy.
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