SEO for the Banking Industry During the Pandemic and Beyond

Today’s businesses, like so many others, must employ digital strategies to succeed in an increasingly competitive industry. One of the most crucial components of such a plan is Search Engine Optimization (SEO).

SEO for the banking industry is no different than other industries except for the need for endless analysis of updates.

Statistics are saying that most consumers click on the results that appear on the first fold of the Search Engine Result Page (SERP), and that was before the pandemic. Insights are now showing that the numbers have now quadrupled. So are you certain you want to miss such traffic?  We’ve all looked for banks near me, the nearest ATM machine, the lowest interest rate loan, personal and corporate account opening, currency exchange/rates, credit cards comparison, and a lot more.

What was the effect of the pandemic on the banking and financial services industry?

The pandemic has not fundamentally changed things but it has accelerated the pace of digital services which were already in place but moving slowly.

The key concern was whether banks could maintain profits throughout this period of social distance and lockdown, and in general, they did quite well with just the occasional hitch. This has been aided by the fact that they had already achieved digital mass at the time of the pandemic. However, if the crisis had occurred 10 or even 5 years earlier, we believe the outcome would have been different.

Fintech on the other side has moved from collaboration with traditional banks to competition. According to McKinsey, the usage of mobile banking channels grew by 20-50 percent during the first few months of COVID-19, and this trend is expected to continue even after the pandemic has ended, this is backed by the deluge of funding that was received by Fintech companies in the last few years.

What changes have we seen within the banking and financial services industry within the past 18 months?

Let’s look back over the last 18 months which is defined, of course, by the pandemic. The popular view is that there’s been a huge change and shift to a new norm for both consumer behavior and banks.  The fact for the banking sector, particularly traditional banks, is that the pandemic has not fundamentally altered anything, but rather verified and expedited digital plans and activities that were already in place. Yes, it is true that social distancing has impacted face-to-face contacts with customers and colleagues but it is also true that the shift from physical to digital was well underway.

But the pandemic has also forced the banking sector to focus on other imperatives. It’s interesting that from being seen as one of the villains in the financial crises over a decade ago, this time, perceptions have altered as banks have taken on a larger social and economic role. They’ve been assisting people and companies, as well as enabling stimulus and relief initiatives, by offering payment and interest holidays and bounce-back loans. They ensured business and operational continuity by keeping contact centers and branches open and critical services available while also transitioning to a virtual operating model.

What are the recommendations for the banking and financial services industry in terms of SEO?

As countries reopen and move away from the lockdown mindset, financial services businesses in the Middle East must understand their clients’ changing requirements and concerns and avoid material targeted toward the regular hard sell of products and services. From a digital marketing and user experience standpoint, SEO for the banking industry has grasped how COVID-19 has changed the way people search, spend, and live.

Many banks and financial services companies make the mistake of depending solely on their page content to attract visitors to their websites, and this is a huge error. The content on your website is not the only aspect that will influence your SEO ranking, but it is a significant one.

There are major techniques to increase the likelihood of your page content being picked up by search engines when someone searches for a certain word or phrase. The first method is to concentrate on Keywords that are relevant to your company and the products and services it provides. The second method is to create distinctive and interesting content for your website.

Why is SEO for the banking industry crucial?

SEO for Banking Industry produces more leads than any other marketing endeavor – so if you haven’t already optimized your site, it may be precisely what you need to accomplish your objectives.

We all can agree that many modern customers begin their searches for everything they require on search engines such as Google and any user who searches for terms like “best bank,” “best interest rates,” and so on near your location might be a prospective customer.

Hence you should be aware that there are hundreds of bank websites available on the internet within the Middle East region. You must guarantee that your services are one-of-a-kind and that the information on your website answers the demands of prospective consumers. This will assist your website in standing out from the throng.

SEO for the banking industry is critical. It assists prospects in finding their websites via search engine results pages. In other words, SEO for financial services companies assists in driving organic traffic to your financial services website by utilizing relevant organic searches.

Final tip on SEO for the banking industry

It is highly recommended to create and maintain your Google My Business account. Optimizing your Google My Business (GMB) site is a simple method to gain instant visibility to consumers searching for banking goods or services in the cities, regions, provinces, or communities you serve. If you have physical locations, make sure that people in the area can see them both online and in person.

Maintaining GMB listings that are up to date, correct, and in order for each branch is critical to your current consumers. What do your consumers see when they type your bank’s name into a search engine? When loyal clients are ready to visit your bank, do not irritate them by providing them with incorrect addresses, hours, photos, or phone numbers.

If you are facing difficulties optimizing your financial content, connect with our team for a free SEO audit.