The Banking, Financial Services, and Insurance (BFSI) industry is facing tough competition from private financial institutes, which are more advanced on the digital front. BFSI services are declining, and people, being more technologically updated and tech-savvy, prefer immediate services that cater to their instant needs. This competitive pressure has led to a rapidly mitigating customer loyalty and is making it difficult for the survival of financial institutions.
A big factor that can help BFSIs to recuperate is SEO which is all about optimizing websites and web content for search. This industry faces tough regulatory concerns related to governance, consumer privacy, and information accuracy; however, the rapid transformation of digital content is leveraging other areas of the financial services industry.
To stay competitive, banks and other financial services must start with SEO. This is not just a marketing tactic but is also informational, transactional, educational, and a location-specific aid to consumers. It is time for these services to partner with an SEO agency for BFSI to enhance target audience reach across different departments. It is time to address the required technicalities, update search campaigns, and upgrade rankings.
SEO challenges that surround BFSI and ways to tackle them
Let us look at the top 5 SEO challenges that hamper the growth of BFSI and how a solid partnership with the best SEO agency in India can tackle them:
Poor Governance of Digital Aspects
Banks have to comply with various regulations, powers, policies, and protocols to manage digital content and marketing campaigns. BFSI needs to cater to organizational silos, which makes it difficult for the entire organization to grow steadily. This has empowered agile competitors to take over.
It is time to fix digital governance to stay within the principles and rules. Conducting proper research and planning the right people, policies, and protocols is important. Identify your tools and needs upfront and plan how your organization can work with SEO agencies to modify your website, mobile app, blogs, or other content to bring in the right kind of consumer attention. You can divide roles, share responsibilities, and maintain control while staying well within the governance assigned to digital platforms for BFSI.
Most financial institutions don’t know the importance of internal links and the value they can exude from their home page. This is especially in the case of a new product launch or communicating lucrative offers to consumers. The 404 page is a common error found on website links. Partially or poorly updated websites is another reason.
These links and webpages are not updated or fixed during a constitutional change or transformation in the BFSI, such as a merger, acquisition, or reorganization. It can get frustrating for consumers, but the fix is easy.
You must align with professionals to identify critical pages or content that are not linked and then link them appropriately so that traffic flow is not interrupted. These technical services find duplicates and redirect content and work on them accordingly. It is critical to delegate authority to expert agencies to make content SEO optimized and consistent with the ever-increasing demand.
Inappropriate Use of Keywords
To enhance Google’s content rankings, reduce customer friction, and make them more likely to choose you over your competitors, using the right keyword in your digital content is essential. The solution is simple. An SEO agency identifies the platforms that your financial institution is integrating with.
It will analyze keyword and SEO-optimization gaps, evaluate the performance of your content and build an integration hub that allows the use of SEO-specific keywords in the BFSI content. You may need to navigate your organisation’s internal policies before you do that.
Poor Performance on Mobile/Digital Platforms
Finance is mobile-first now, and many businesses are heading to more modern ways of communicating with consumers – emails, social media platforms, YouTube videos, etc. BFSI needs to cater to financial governance, but there are many ways in which institutions can improve their digital performance. You can:
- Offer self-service options
- Make retail banking an omnichannel experience
- Offer personalised solutions
- Frame optimised content and resolve basic consumer queries through leader interviews, FAQs, blogs, articles, website content, and landing pages
- Optimise for voice search
- Measure and optimise core web vitals
Technical SEO is the need of the hour, and it has become fundamental for BFSI to collaborate with the best SEO agency in India to maximise customer trust. SEO agencies help these BFSI services to explore user-centric digital experiences. Start with excellent SEO, follow best practices, and equip their digital information with trending algorithmic changes.
Staying ahead of market demand and automating rapid modifications to SEO-optimized content to comply with search criteria is important. By leading governance and overcoming these challenges. You can find search campaigns that improve your BFSI rankings, consumer engagement, and growth.