There tends to be a sense of uniformity across regulated industries like finance, law and education. This is completely understandable, as you have so many requirements to adhere to by law. But as more and more people are judging your business by your online presence, it’s important that you still stand out from the rest. Don’t get caught up blending in with your competitors! Here’s how to market your business in a regulated industry…
Start by identifying your limitations
Putting together a list of dos and don’ts is a great idea, especially if you’re outsourcing your marketing to someone who may be less aware of ins and outs of your regulated industry. From here, you can inform the rest of your marketing decisions and figure out what you can do differently.
Focus on building trust
In a regulated industry, businesses are unable to move quite as quickly. Many marketing decisions need to be carefully reviewed before approval. This can halt your online growth. So we recommend focusing on, first on foremost, building trust and confidence in your business. Find ways to interact with your audience, raise awareness on your expertise and establish trusted relationships. Creating content that is accessible, straightforward and customer-focused will be fantastic for your marketing strategy. Think of who your target audience are and plan your strategy from there. They might be corporate clients who value your experience or they might be unfamiliar with your industry and may just need straightforward advice. Always ensure your marketing is centred around your ideal customer.
What can you do differently?
Working in a regulated industry doesn’t mean that you don’t get to have any fun! You can still create engaging content, so focus on bringing something fresh to your industry. If you’re in finance, for example, you can make posts on trending topics like the stock market news, crypto currency and more. These would draw in a wider audience, while also showing your expertise on a number of subjects. If you have an education business, how do you present yourself to parents of potential students? For example, we created a virtual open day for one of our clients, John Taylor Free School. This was a way for them to innovate during lockdown and still provide a personalised experience to parents and students via a virtual tour, teacher and student testimonials and more.
Innovating within a regulated industry
In a way, regulated industries actually provide a lot of space for innovation. That’s because your competitors have likely always maintained the status quo. If you can identify new ways to connect with your audience and leverage the power of social media, you’ll likely carve an exciting new niche in your market. Regulated industries are often confusing to those who are not in them, so you can be the one to change that! There are no regulations that stop you from showing your personality or talking about your industry in a more engaging way. Plus, more customers are now looking for a powerful online presence and social proofing. It’s important you keep that in mind and think about how they will perceive your business. Especially, if they don’t know about your industry but are in need of your services!
Check out these examples…
If you’re stuck for ideas on how you can get creative, we have some examples!
Kingston police have a great balance of building trust and keeping their community informed, while adding personality and humour to their posts as appropriate. This Valentine’s Day post is a great example!
While they’re not necessarily a financial company, they provide a lot of financial advice that could be an inspiration for your finance business! The company is also run by a qualified accountant. They use a mix of trending topics and memes, feeding their advice into them in an engaging, shareable and accessible way.
Devin James Stone is a real-life lawyer with a whopping 1.78 million subscribers on YouTube. He is a fantastic example of making your regulated industry accessible and straightforward to a wider audience. He does a lot of reaction videos to legal cases in TV, as well as clever commentary on current events.
How do you communicate with your audience?
If you’re in a regulated industry and are struggling to find your voice, get in touch with us! We have a vast experience working with a number of education bodies over the years. We can tailor your marketing to ensure it follows the guidelines, while being engaging to your audience. Plus, we are full service, which means you won’t have to outsource different tasks to different agencies!