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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Mining What You Know Yourself

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To make your writing more unique and richly layered, Whitney Hill advises in a Writer’s Digest piece, mine areas of your own life.  “Writing to market”, she says is a common and very viable strategy, meaning familiarizing yourself with the websites, social media, and trends preferred by your likely readers.  But, on a deeper level than “market”, there’s audience, Hill says. Market describes the places, times, and offerings; audience is the people in those places, times, and offerings. Digging deep within ourselves for inspiration can help us connect with the right others.

People

“Our families, colleagues, friends, and other people we know may spark an idea for….a narrative thread,” Hill goes on to suggest. (It’s important to remember factors such as safety, privacy, and liability, she cautions.)  My own twenty-seven year financial planning career put me in touch with a variety of teachers, speakers, and clients, each with stories and lessons…

Background

Educated in the public school system in Pittsburgh, parochial schools in New York City, University of Missouri in Kansas City, and the College of Financial Planning in Denver, Colorado, I have been exposed to a variety of learning experiences that I’m sure have found expression in my writing. 

Field

Language has always been at the core of my work. Following years teaching of Hebrew using the Voix et Image method of second language teaching, then penning a weekly financial advice column for twenty two years, I’ve been involved, for the past seventeen years, in content marketing. The “leitmotif” of finding the right words has characterized my days for as long as I can remember. 

Focusing on what we know best – ourselves – can be a way to strengthen our craft, helping us write stories that deeply connect with readers. Since, at Say It For You, our purpose is to focus readers’ attention on our content marketing clients, we are taking on the readers’ personas, rather than our own, helping them ” interview” the business owners or practitioners in light of their own needs.

While Whitney Hill is advising novelists and short story writers, the concept of “mining what you know yourself” is very appropriate for content marketers. In order to truly connect with our clients‘ readers, we need to connect with those clients’ people, backgrounds, and fields, all while finding connections to our own backgrounds, enabling us to mine what we know ourselves!

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What-Would-You-Do-If Content

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‘What animal best represents you as a person?’ How would you survive a zombie apocalypse? What would you do if you won the lottery tomorrow?

By asking questions that avoid routine, rehearsed answers, interviewers can get a glimpse into an applicant’s skills and personality, Lee Hafner explains in Employee Benefit News.  Talking about the traits of an animal reflects your own qualities, the author explains, with a lion symbolizing leadership or a dolphin characterizing communication skills. A zombie apocalypse represents crisis situations, allowing interviewees to emphasize their adaptability and resourcefulness.  The question about winning the lottery allows candidates to show they are motivated by more than money.  Applicants should be ready for such out-of-the-box questions, using the job posting itself to prepare, Hafner advises.

In marketing, as in hiring, what-would-you-do research is essential.  For one thing, as Cascade Insights points out, “Today’s sales process is largely independent, with 68% of buyers preferring to research on their own before creating a shortlist. If your website doesn’t connect with your buyer’s priorities, or your content doesn’t show up where they are looking, you are likely to lose a lot of prospects that could have been leads.”

“As a consumer, I’m more likely to be a fan of and give repeat business to brands that know what I like and cater to my interests,” Flori Needle of Hubspot observes. After all, for any business, there are going to be customers who are simply too advanced for the product or service, or who engage with your content only to gain knowledge,( not as potential buyers).Meanwhile, 94% of marketers surveyed agreed that offering a personalized experience increases sales.

Just as Lee Hafner advises job candidates to be prepared to present their own “personas” by comparing themselves to specific animals, content marketers must be prepared to demonstrate they can meet their  target buyer’s specific needs, behavior, and concerns.

At Say It For You, we know.  As content marketers, we caution our business owner and professional practitioner clients that their business or practice cannot ever be all things to all people.  We explain that the content marketing we will be doing for them will need to be tailor-made for their ideal customers.  That “tailoring” includes:

  • what words we use
  • how technical we get
  • how sophisticated the approach will be in each article or post

What-would-you-do-if content means anticipating how “they” (those readers, not the average reader) might react to or feel about our approach to the subject at hand?

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No-No Expressions in Content Marketing

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Earlier this week, our Say It For You blog highlighted some very good tips Bruce Sanders offers in Financial Advisor Magazine to financial advisors about staying in touch with their clients. As a content marketing, I particularly appreciated Sanders’ advice concerning specific expressions advisors would do well to avoid in their communications.  “You might say something you consider witty or simply plain speaking, but your client might take it the wrong way”, he warns…

1.   You’re meeting with a client and the phone rings. You say “I can ignore that call”. Your intention was to show that the person in front of you is most important and that this meeting should not be interrupted. The client, Sanders cautions, might wonder if their call might get the same “brush-off” treatment when they need to talk to you.

2.   A client has learned that they cannot do something they wanted to do, either because of technology or other changes in policy. If you say “It’s firm policy”, that’s a turn-off – your client feels you should be arguing their case. See this from the client’s perspective. Show that you understand their frustration. Then show how the change will benefit the client in the long run, Sanders advises.

3.   “I want all your money”. Don’t offer an “all or nothing” scenario in which prospects must sever relationships with other vendors or professionals as a condition of dealing with you, Sanders warns.

“Powerful customer service phrases can help you improve client interactions by instilling trust, touchpoint.com explains. “Is there anything else I can assist you with?” shows that a service representative is eager to go above and beyond to ensure the customer’s satisfaction. If concerns arise, saying “Thanks for bringing this to our attention!”, or “I apologize for the inconvenience” can help maintain trust..

For content marketers, this advice applies to negative comments that readers sometimes make about a business, using social media. When those customer complaints and concerns are recognized and dealt with “in front of other people” (i.e. in the content available to all readers), it gives the “apology” more weight.  “Letting the client tell his/her story,” gives the owner or practitioner the chance to offer useful information to other readers and to explain any changes in policy that resulted from the situation. But, even when there haven’t been negative comments or outright complaints, we must engage readers and show them we understand the dilemmas they’re facing, going right to the heart of any fears or concerns they might have.

Getting everything “out on the table”, thereby building trust? Why, that may be one of the most valuable functions of content marketing!

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Staying in Touch With Content

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“You need to take control of the narrative,” Bryce Sanders cautions financial advisors in Financial Advisor Magazine. When the stock market is going up, some advisors don’t see the need to call their clients. Others don’t think they need to call when the market is going down. But either way, Sanders cautions, it’s a big mistake not to stay in close touch with your advisees.

At Say It For You, we realize, every single one of the reasons Sanders cites for staying in touch with financial planning clients is true for business owners and professional practitioners in every field:

1. Your clients should be expecting you to be in touch with them on a predictable basis.
In content marketing, it’s a big mistake to take your foot off the gas. Yes, creating a steady stream of content takes time and patience. As online marketing guru Neil Patel stresses, websites that publish regular, high-quality content are providing real value to users.

2.    Give the client credit for the successes they have achieved using the information you’ve provided.
Your website can include customer testimonials to boost credibility in two ways. Success stories boost your credibility with new prospects, helping them decide to do business with you. At the same time, testimonials also foster commitment from those providing those testimonials.

3.  Clients need to know where they stand with you, knowing you are paying attention.
To maintain that “paying attention” stance, it’s crucial to avoid “yo-yo content posting”. Spacing marketing content pieces at regular intervals and maintaining consistency allows regular readers and newcomers to the site to expect – and benefit from – a regular flow of information.

4.  Clients have the potential to invest new dollars with you, and are looking for direction.
When it comes to content marketing, the word “news” can mean several different things, including “your own news”, introducing a new employee, a new partner, a new product, a new service. Community news relates to “what’s going on and how we fit in”.

Content marketing is nothing more than staying in touch with what’s happening in your community, in your industry, in your business or practice – and sharing those insights with your readers!

 

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