Ranjit specialises in digital marketing product management, social media, and the paid and organic search space. He has vast experience in the wealth management space and in the emission trading market. Before BankBazaar, Ranjit was heading digital marketing at Aditya Birla Online Fashion Pvt. Ltd. (abof). In this conversation, Ranjit explains how BankBazaar has implemented content marketing in their overall marketing strategy.
Our conviction in video as a content format is so much that we have dedicated an internal team to conceptualise and create relevant and topical BFSI content.
Content marketing is seen as an integral part of the marketing mix and complements the overall marketing strategy. How have the efforts and budget for content marketing evolved in your organisation?
Content marketing is a key pillar for BankBazaar as we firmly believe that good and relevant content assists users to make the right decision. At BankBazaar, content started forming an integral part of marketing five years back, and since then the budget contribution towards right content creation and dissemination has been increasing significantly. Through our data-driven models, we have enough evidence to show that content feeds into a lot of top and middle of funnel inflows, and over time these users get nurtured to convert.
How has social media helped in increasing BankBazaar's consumer engagement?
BankBazaar is one of the FinTechs which has been a pioneer in using social media for enhanced consumer engagement. We have used multiple forms of content like a topical subject, video, conversational content, snippets and so on, to keep users engaged in a way that they can make better financial decisions. Some of the top social media platforms which have worked for us are LinkedIn, Facebook and Quora. Good, relevant and engaging content has helped our brand to be one of the top choices for any financial needs.
Video has emerged as a dominant communication format. How do you go about planning and implementing a video content strategy?
At BankBazaar we have a well-planned annual video strategy, as this format is getting consumed now far more than any other format of content. Our internal content data and secondary research data also back the fact that the current generation and the new generation will primarily prefer video formats. Our conviction in video as a content format is so much that we have dedicated an internal team to conceptualise and create relevant and topical BFSI content.
At BankBazaar we make multiple content formats but our most favoured content is small video snippets, as most of the video content is consumed when the user is on the go. YouTube and Facebook have consistently been our preferred channels for content dissemination. These platforms have helped us to reach the right audience, and with some strong analytics we have been able to consistently fine-tune our content.
