Top 3 Web Content Management Pains in Financial Services
As part of the Percussion Software sales team, when I talk to prospective customers in financial services, I hear a lot of the same complaints over and over. Regardless of the size of the organization, and whether it’s a bank, an investment firm, insurance provider, or something else, their biggest pains are equally unpleasant. To better understand the source of the problem and how web content management can be part of the solution, I’ve picked the three biggest pains in financial services web content management.
In the financial services industry, the age-old struggle of balancing IT and Marketing Communications ownership of the website continues. Typically, organizations must choose between empowering one department or the other. However, the financial services industry also has to include their legal and compliance officers in the mix. In the digital age, consumers are looking for quality content at the click of a button and on every device.
This has forced financial services to adapt to their audience and make their online presence a top priority. In order to do so, all aspects and departments need to be hands on to reduce the time it takes to get content to the site. Ease of use is key to adopting an agile content process. If end users are unwilling to work in your CMS, you'll be unable to adopt an agile environment and will lose prospective clients to your competition.
Lack of Workflow and Governance
In the financial services industry, granular workflow permissions are absolutely critical in a content management system. It is essential to constantly monitor content approvals and revisions in case an audit occurs. Features like workflow commenting and versioning can dramatically improve the communication between marketing and compliance teams, and reduce anxiety around potential audits. The financial sector needs the ability to set permissions on specific pages as well as assets like documents and images to ensure access is given only to those who should have it. You can never have enough content governance, and the more granular your permissions, the more secure and compliant it will become.
Poor Brand Continuity
Many financial services institutions have multiple branches or divisions within their organization. Keeping corporate branding consistent across multiple websites and domain can get troublesome, and sometimes results in either too little flexibility for teams to manage their sites, or an erosion of brand integrity. It’s also important for individual branches to receive their own web leads and conversion statistics while maintaining the overall brand name and reputation of the organization.
Multi-site management helps maintain brand continuity and standardize processes across all departments and branches whether they are statewide, nationwide, or international. This is further supported by a CMS with the ability to share assets globally, ensuring all related websites rely on the same version of logos and other branded elements. A multi-site-friendly WCM will empower local branches or regional website managers to customize their own sections based on personnel, local promotions, and individual business drivers without the concern of breaking corporate brand continuity.
These three pains are not the full extent of challenges faced by digital marketers in financial services , but they are the largestroadblocks and can drive up costs, reduce effectiveness, and get between the organization and its customers. A web content management system capable of addressing multi-site management, granular permissions, and workflow-based governance is the bare minimum. Combining these capabilities with a content management system that is both easy to use and can be operated without constant IT interventions will help you manage your website content in a way that supports strategic marketing goals.
Greg is a graduate of Merrimack College with a degree in business administration and concentration in marketing. As part of Percussion's sales team, Greg spends his days helping new customers discover how easy web content management can be. His experience in the content marketing and SEO world has helped him assist prospective clients in understanding how to reach their business goals. Greg is also a passionate sports fan with a deep love for basketball, and a longtime contributor to the Celtics Green blog.