In Content Marketing, Consider Readers’ Home Bias

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When it comes to their stock portfolios, financial advisor James Cheng observes, investors tend to invest the majority of their money in domestic equities, ignoring the benefits of diversifying into foreign companies.  Home bias isn’t restricted to American investors, he explains – investors from all over the world tend to prefer investing in companies based in their own country. While being too concentrated in any one area of the market can actually be a dangerous practice, Alexander Joshi Of Barclays of London cautions, exposing an investor’s portfolio to elevated market volatility, investors would rather invest in things with which they are already familiar, rather than moving into the unknown.

While the expression “home bias” originated in finance, familiarity bias influences consumer behavior in every aspect of life. “Have you ever noticed yourself gravitating towards the same brand of coffee or choosing to watch movies from a favorite genre repeatedly?”  Octet Design Journal asks. Gravitating towards familiar faces and avoiding interactions with strangers can mean missing out on valuable relationships and opportunities.

How can sellers overcome this inherent yet irrational desire to keep something the same, even if it’s less than optimal?  While prospect theory explains that people are more averse to losing what they have than benefitting from something new, value selling can help overcome your customers’ status quo bias, David Sviel  of ROI Selling suggests. “Your job,” he tells salespeople, “is to convince them that, despite the risk of making a change, which always exists, not making a change has its own risks and consequences.”

Will blog marketing “close” deals in the same way as a face-to-face encounter between a prospect and a sales professional? The answer is obviously “no”, we explain to our Say It For You content marketing prospects. On the other hand, prospects what have been reading your blog posts will typically enter the sales process more educated on your place in the market, your industry, and what you have to offer. Consistent posting of valuable information positions you as a SME, or Subject Matter expert, offering you a much greater chance to overcome your audience’s “home bias”.

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First, Offer Readers the Right Questions

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When it comes to interest rates, “investors are seeking the right answers to the wrong questions,” Boston-based MFS investment management portfolio manager and global investment strategist Robert Almeida suspects.  When planning a long-term investment portfolio strategy, the precise timing of a Fed rate cut is not the issue.  We should be asking what the fact that rate cuts are even being considered reveals about the fundamental health of our economy, Almeida asserts…

The most serious mistakes are not the result of wrong answers, the Corporate Learning Network editors agree.” The truly dangerous thing is asking the wrong questions.” Why is that so? “A wrong answer to the right question can, as a rule, be repaired and salvaged. But if you ask the wrong question and get the right answer, chances are it will take a lot longer to discover and inevitably lead to even more costly errors. As an example, the editors quote a comment by Steve Jobs on the birth of the automobile industry: “If Ford had asked people in a focus group what they wanted they would have said ‘faster horses’.”  Translation – your marketing content cannot focus on satisfying a need for your client’s product or service without prospects first recognizing that need! “You have to start with figuring out what problem you’re solving, instead of searching for the answer,” Nicolas Cole writes in Inc. Magazine. ” Great ideas are answers to the right questions.”

Duotech Services lists questions business owners should be asking possible vendors and suppliers, including:

  • Does your company have experience with a business like ours and understand our needs?
  • If there was a boost in productivity could your adjust to meet our increased needs? If we needed to slow down production, are you flexible enough to adjust to that reality?

(Notice that these questions are not centered around  cost, but around ease of communication and adaptability.)

Blog posts, as we so often stress at Say It For You, are not advertisements or sales pieces (even if increasing sales is the ultimate goal of the business owner).  Whatever “selling” goes on in effective content is indirect and comes out of business owners sharing their passion special expertise and insights in their field.  When content marketing “works”, readers are moved to think, “I want to do business with them!”.

Before offering solutions or answers, offer readers the right questions!

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Tell Them What They’re Getting for Their 1%

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Over time, in the financial planning industry, advisors went from phoning clients and executing transactions to fee-based money management. “It’s becoming a 1% business,” one advisor grumbled, noting that sometimes clients don’t “get” the total value of the relationship and the many ways planners can help their clients. Don’t those clients ever ask, he wonders, “What do I get for my 1%?”

The author, Bryce Sanders, proceeds to discuss different tangible benefits effective advisors can offer their money management clients, including

  • a dedicated advisor with whom you can meet face to face
  • a live person answering the phone
  • someone to help measure your progress towards your goals
  • college planning, retirement planning, and even some estate planning advice
  • referrals to specialists when needed

Sanders conclude his article with a point I find highly relevant to the work we do in content marketing: Advisors who seek to build long term relationships with clients, he emphasizes, “need to bring substantial value to the table to make this case. If the client feels they are getting substantial value, cost often becomes secondary.”

That is precisely the reader reaction we are after as business content writers, we realize at Say It For You. Content writers must learn to become value creators, and blog content is all about value, not pricing. . “People like to know how much stuff costs,” Marcus Sheridan of social media examiner.com warned. Still, at Say It For You, we don’t think price is the No. 1 consumer question on the minds of web searchers who land on our clients’ content. Instead, what the writing needs to do is provide value – answer questions, offer perspective and thought leadership.

Yes, inquiring minds want to know, and searchers need to know they’re being introduced to a business or practice where they can find value. Rather than emphasizing the 1%, tell ’em what they will be getting for their 1%!

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Content That Connects Theme to Character

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“It might seem like nonfiction writers get off easy when it comes to developing characters; we don’t have to create them from whole cloth…the people we’re writing about already exist,”  everand.com remarks..True, but when it comes to creating content for online marketing, what I’ve found is that, while the “characters” certainly exist, readers too often have never been properly introduced to them!

In one of the very earliest books I read on content creation, Creating Buzz With Blogs, Ted Demopoulos posited that content creates buzz when people feel as if they know you, because “people like to do business with people they know”.  In other words, content needs to provide valuable information to readers, but that content needs to introduce the people who are providing the products and services being marketed.

Scott Greggory of Forbes calls it “highlighting your humanity to help your brand stand out”. “If your company sells a certain brand of tires, cell phones, or frozen pizza, you are literally no different from every other establishment that sells the same item,” Greggory says. What differentiates your company and builds loyalty is only a more human experience.

Writer’s Digest  contributor Sharon Short uses the Wizard of Oz  as an example:

What’s the story really about? Finding value and joy in home and family.  But that’s hardly memorable enough to entice a book purchase, Stone admits.  It’s the characters – Dorothy herself, Scarecrow, the Tin Man, the Cowardly Lion, the Wicked Witch of West,  Aunt Em, who connect with and impact readers.

 There are many aspects to be considered in creating online marketing content, including offering how-to tips, emphasizing unique aspects of the product or service being offered, opinion pieces on industry issues, and offering “startling statistics” to emphasize the scope of the problem you’re offering to help solve.

At Say It For You, we know that, when searchers find your post or article, they already have an interest in (and probably some core knowledge about) your subject. To move them to the next step, you need to “prove your case”, demonstrating that you know a lot about the problem you’re proposing to solve, and that you and your staff have the experience, training, and degrees needed to solve that problem. You might even “get into the weeds” by offering specific recommendations.

But, as an integral part of “brand positioning”, highlight the “characters” in the story, we remind business owners and professional practitioners, those people who have been — and who will be — delivering on that brand. In marketing content, it’s vital to connect theme to character.

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The Four Elements of Query Pitches and Posts

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“You’ll need all four elements in your tool bag over time,” Amy Collins tells book authors in the Writer’s Digest 2024 Yearbook, referring to statements authors send to agents and publishers about their books. When it comes to blog marketing, content writers can use all these elements to attract and maintain the attention of blog readers.

1. Loglines:
These answer the question, “Would I like this book?”, using culturally relevant references to give the reader a chance to identify their potential interest.

The reason so many online searchers return to a particular search engine to find products, services, and information, is that they’ve found what they “would like” on that site before. The organic search process is the “logline”, delivering readers to your blog post who are most “likely to like” the information you’ve provided.

2. Elevator pitches:
These answer the question “What’s the book about?”, giving the reader “an idea of the premise and the stakes”.

When it comes to blogs, the “elevator pitch” is the title. We want the searcher to click on the link, and of course we want search engines to offer our content as a match for readers seeking information and guidance on our topic. More than that, though, a blog post title in itself constitutes a set of implied promises to visitors. In essence, you’re saying, “If you click here, you’ll be led to a post that in fact discussing the topic mentioned in the title.

3. Query pitches:
These add a few more compelling details to convince the agent that your book is different from – and better than – others in its category. What does your book add to the game? What are your future readers buying and reading right now?

To achieve success in content marketing, your having gotten to know your particular audience is crucial. While you may point out that your product or service can do something your competitors can’t, that particular “advantage” may or may not be what your audience is likely to value

4. Plot synopses:
These answer the question, “Does this book have the elements needed to be successful?” Here is where the author tries to prove that “the plot is not derivative or dull”. Collins cautions authors to focus on the main character arc and the story arc without over-cramming details. Just as “cramming everything about your plot into your synopsis will not help convince an agent to read your book,” cramming everything about your product or service into a single blog post is not going to help convince readers to take the next step.

In a sense, focus is the point in blog content writing. At Say It For You, we firmly believe in a razor-sharp focus on just one story, one idea, one aspect of your business, with the message geared towards one narrowly defined target audience.

Very much like authors pitching their book ideas to agents and publishers, at Say It For You, we know that the secret of success lies in skillfully using Amy Collins’ four elements.

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