In today’s crowded digital marketplace, simply being online is no longer enough. For financial institutions, visibility is paramount to standing out in a competitive field. The key to this visibility lies in mastering share of voice (SOV), a crucial metric that can separate thriving banks and financial services from those slipping into obscurity.

Creating seamless user experiences and providing exceptional customer service by incorporating digital tools can help you solve your customers’ problems. According to a survey by the American Bankers Association, 79% of consumers agree that digital innovations and bank improvements are making it easier for all Americans to access financial services.

Explore how increased visibility and enhanced customer service through a strong digital presence can help your financial institution thrive in today’s digital era.

What is Share of Voice?

Share of voice (SOV) gauges how often and prominently your financial institution appears in search results compared to your competitors. It covers organic and paid search visibility, providing a holistic view of your brand’s online prominence. A higher SOV means more frequent appearances in search results, translating to greater brand awareness, increased traffic and more conversions.

Why Aim for a High Share of Voice?

Building Trust and Credibility
For financial institutions, increased visibility leads to greater awareness and recognition among potential clients, fostering trust and credibility in the marketplace. Consumer behavior in the banking industry is heavily influenced by the amount of trust a consumer has with their bank.

According to the Federal Reserve’s report on the Economic Well-Being of U.S. Households, 13.2% of unbanked households forego having a bank account due to a lack of trust in banks. Awareness of this lack of trust provides an excellent opportunity for financial institutions to build trust and credibility among potential customers through an increased share of voice.

Competitive Benchmarking
Understanding your position within the market allows you to tailor your strategies effectively, ensuring you stay ahead of the competition. This is crucial for financial institutions where competition is fierce, and differentiation is key.

Informed Strategic Decision Making
Data-driven insights from your SOV can inform marketing strategies and budget allocation, ensuring resources are used efficiently to maximize reach and influence. This strategic advantage is essential for making informed decisions that align with your institution’s goals.

Conducting Comprehensive Keyword Research

Keyword research is the backbone of increasing your search marketing SOV. You can optimize your content to rank higher in search results and capture more traffic by identifying and targeting high-volume, relevant keywords. For financial institutions, this means targeting keywords that resonate with your audience’s needs and concerns.

Use the following tools for keyword research:

• Google Keyword Planner. This tool is ideal for discovering new keyword opportunities and understanding search volume trends.
• Ahrefs. This provides in-depth competitor analysis and keyword difficulty scores.
• SEMrush. This offers comprehensive keyword research and competitive insights.

Types of Keywords

• High-competition keywords. Broad, high-reward keywords that attract significant search traffic but require substantial resources to rank for. These could include “best mortgage rates” or “top investment banks.”
• Long-tail keywords. More specific, less competitive keywords that drive highly targeted traffic and result in higher conversion rates. Examples include “small business loans for startups” or “how to open a Roth IRA.”

Optimizing On-Page and Off-Page SEO

A robust search engine optimization (SEO) strategy encompasses both on-page and off-page techniques to elevate your website’s visibility and authority.

On-Page SEO
Incorporate targeted keywords into titles, headers, meta descriptions and content to ensure search engines understand the focus of your pages. Technical SEO aspects, such as site architecture, URL structure and schema markup, also play a crucial role. Creating high-quality, engaging content and providing an excellent user experience is essential for on‑page success.

• Content relevance. Ensure your content addresses your audience’s specific financial needs and questions. For instance, articles on managing personal finances, investment strategies or understanding credit scores can attract a targeted audience.
• Technical SEO. Ensure your website is technically sound with fast load times, mobile optimization and secure connections (HTTPS).

Off-Page SEO
Obtaining quality backlinks from authoritative sites, building your brand’s presence through online mentions, and engaging on social media all boost your visibility and drive traffic. Content marketing strategies, such as guest blogging and press releases, further enhance your efforts by distributing valuable content to a broader audience.

• Backlink strategy. Partner with reputable financial news sites and industry blogs to gain authoritative backlinks.
• Social media engagement. Actively engage with your audience on platforms like LinkedIn and Twitter, sharing insights and updates reinforcing your institution’s expertise.

Implementing a Robust Search Engine Marketing Strategy

Paid search engine marketing (SEM) is critical for increasing SOV, particularly in competitive markets. Platforms like Google Ads enable you to bid on keywords and display advertisements to users actively searching for your financial products or services.

Compelling Advertising Copy and Keyword Usage

• Keyword selection. Identify and bid on highly relevant keywords that your target audience is searching for, such as “home loan calculator” or “wealth management services.”
• Compelling advertising copy. Craft engaging advertisements highlighting your unique value propositions, such as low interest rates, personalized financial planning or innovative banking solutions.
• Optimizing bids. Ensure your advertisements appear in prominent positions without overspending by continuously monitoring and adjusting your bids based on performance data.

Competitive Conquesting

Bidding on competitor search terms can be an effective strategy to capture market share. Start by identifying your competitors and the keywords they rank for. Tools like Google Ads Keyword Planner, SEMrush and Ahrefs can help gather data on competitors’ keywords, ad copy and bidding strategies. Analyze competitors’ strengths and weaknesses to identify opportunities for differentiation, then develop targeted ad copy highlighting your unique offerings.

Example Strategy: If a competitor is known for their high‑yield savings accounts, emphasize your institution’s superior customer service or innovative mobile banking features in your advertising campaigns.

Continually Measure and Adapt Your Strategies

The digital marketplace is ever-changing, and maintaining a dominant share of voice requires ongoing measurement and adaptation. Key metrics to monitor include organic traffic, paid traffic, keyword rankings and engagement metrics. Taking the following actions will amplify where your share of voice stands, enhancing your online presence.

Key Actions:

• Regular monitoring. Consistently track your performance metrics to identify trends and areas needing improvement.
• Engagement metrics. Pay attention to how users interact with your content; high engagement rates indicate strong content relevance and quality.
• Social media activity. Stay active on social media to boost your share of voice and engage with your audience. Use platforms like LinkedIn for professional networking and Twitter for timely updates and customer engagement.
• Key performance indicator (KPI) reviews. Regularly review key performance indicators to identify areas for improvement and adjust strategies accordingly.

Keeping up with search engine guidelines and industry best practices ensures your strategies remain effective while experimenting with new tactics, allowing you to continually refine your approaches based on performance data and market trends.

By staying vigilant and adaptable, your financial institution can maintain and grow its share of voice, ensuring your brand remains competitive and visible in the dynamic digital landscape.

For more detailed strategies and insights on dominating your share of voice, download a free comprehensive whitepaper from the media center on techintlabs.com.

Adam Lee’s career centers on creating, building, operating and leading highly successful media organizations. He helped launch Techint Labs to create a conversion-focused media agency that helps brands utilize emerging advertising technology to earn attributable results. Before Techint Labs, he led digital strategy for national clients at Digital First Media, the United States’ second-largest newspaper publisher.