Is Your Financial Services & Insurance Company Struggling With Content Management? Here’s Why You Need a Content Supply Chain

Ninety percent of today’s organizations use content as a key element of their marketing strategy, and the financial services and insurance industry (FSI) is no different. More than half of investors want financial education from their advisors, and content marketing is one of the best ways to meet that demand.

However, 49% of financial advisors say they don’t share content because they’re not sure how to go about it. For the other half that do publish content, challenges abound. Regulatory compliance, data privacy guidelines, and technical terminology all present significant hurdles to FSI companies creating, publishing, and managing high volumes of quality content. Luckily, a well-executed content supply chain can help mitigate these challenges, helping FSIs streamline workflows and approval processes, enhance visibility, and more easily reuse and repurpose content.

Here we’ll discuss the pain points FSIs face in producing, distributing, and managing content, along with the benefits of a content supply chain. We’ll wrap up with tips and best practices for successfully implementing a content supply chain for FSIs.

The unique challenges of FSI content management

FSIs must navigate a range of unique challenges when producing content. Here are some of the key difficulties:

Regulatory Compliance

FSIs are heavily regulated. Laws like the GDPR in Europe and the CCPA in California require organizations to include detailed disclosures and disclaimers or they could face serious legal repercussions and hefty fines.

Ongoing Content Updates

From interest rates to lending terms, the finance industry is always changing. Content must be timely and relevant, meaning FSIs need ample resources to update posts with real-time information.

Consistency and Quality Concerns

Many middle-tier banks and credit unions lack the resources to produce content in-house. In fact, 48% of all content marketing is outsourced. But farming work out to agencies creates new challenges, and processes may not be consistent or of the same caliber.

Diverse Audiences

Most FSIs speak to diverse audiences, from individual consumers to large corporations. Each audience has unique needs and levels of understanding, and content must be personalized to address those specific needs.

Data Security

FSIs constantly handle sensitive information. Ensuring that all content adheres to strict data privacy and security protocols is an ongoing challenge, especially as consumers grow more concerned about data privacy.

Aside from these major pain points, FSIs also have to navigate concerns related to financial literacy, brand differentiation, ethical considerations, building consumer trust, and more. They must avoid misleading information, show empathy for diverse audiences, and optimize for multiple platforms — all while balancing promotional goals. With so many potential issues bubbling below the surface, a strategic approach to content creation and distribution is vital.

The solution: A content supply chain for FSIs

A thoughtfully executed content supply chain allows FSIs to create, manage, distribute, and analyze content seamlessly. It simultaneously increases the quantity and quality of all content, enhancing security and visibility along the way.

Let’s explore the central benefits of a content supply chain for FSIs.

Streamlined Workflows

Most content produced by FSIs goes through a rigorous approval process, passing through legal and regulatory checkpoints before publishing. These checkpoints often stall workflows and create silos between departments. A content supply chain eliminates these issues by allowing all parties to view content as it goes through the production lifecycle. Checkpoints are built-in and intuitive so they can effortlessly pass through review panels without hiccups along the way.

Enhanced Visibility

Because all departments can check in on content progress at any time, a content supply chain also enhances visibility throughout the organization. All users access content within the same platform, ensuring timelines stay on track and nothing gets missed during the creation process.

Increased Control

When FSIs hire an agency to produce content, they often give up full control over the assets. They may not have the right file formats or the ability to edit content once it's been published. A content supply chain mitigates this challenge by keeping content contained in a singular platform, even when outside agencies are involved. FSIs have more freedom and flexibility to repurpose and reuse content in the future, which saves time and resources.

Improved Security

The right content supply chain offers the robust security measures required for regulatory compliance. Each piece of content has unique permissions, so only certain groups of people can gain access to sensitive information. This protects FSIs from data breaches, improves quality control, and enhances consumer trust.

With a properly executed content supply chain, FSIs can leverage AI and data analytics to create more personalized, high-quality content. They can build a consistent, repeatable pattern that facilitates employee training and promotes content reuse and repurposes. Ultimately, they can achieve significant efficiency and productivity gains without increasing headcount.

Tips for success: Content supply chain best practices for FSIs

Here are some tips to ensure the content supply chain operates efficiently and effectively.

Include All Stakeholders

The most successful content supply chains bring all relevant stakeholders into the workflow. For example, legal teams, editors, and subject matter experts should be included in the review process, while data security teams should be included in the management and audit trail creation process.

Standardize Workflows

Standardization is another key component of a successful content supply chain. Everyone involved in content creation should understand the steps, use the same terminology, and have visibility into each phase of the process.

Get Organization-Wide Buy-In

A content supply chain needs buy-in from every part of the organization for it to operate effectively. Flow diagrams and audits can help departments understand the need for a content supply chain. Likewise, stakeholders should be involved in the creation of each workflow so they can give their input on current pain points and solutions.

Establish Metrics to Measure Success

How can FSIs know if a content supply chain is working? By establishing key metrics to measure success. The content supply chain is like a fulcrum that users can pivot on and adjust as needed. Over time, metrics will help teams discover elements that require further optimization.

Streamline content management with Rightpoint

Unique, personalized content helps FSIs educate audiences, gain consumer trust, and establish authority. But as the task of producing a high volume of top-tier content grows more challenging, a content supply chain is becoming a crucial part of a strong FSI marketing strategy.

With the right content supply chain, FSIs can streamline workflows, meet regulatory and security standards, and ensure the steady, timely delivery of quality content.

Need help managing content throughout its lifecycle? With Rightpoint, FSIs can leverage the power of AI to easily find, create, and store content at scale. Get in touch today to discover how we can help your FSI produce engaging, personalized content that meets strict industry standards and engages audiences.