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8 Must Have SEO Strategies For Your BFSI Website

What are SEO Strategies?

Search Engine Optimization is the key to improving organic website traffic and rankings on the SERP (Search Engine Result Page). It improves the site’s visibility, helps it grow organically and attracts more potential customers. To get these improvements done efficiently, it is important to build proper SEO strategies.

Why You Need SEO Strategies for Your BFSI Website?

When was the last time you visited a bank for money transfer or buying any investment plan for yourself? The thing is that we don’t even need to go there anymore! All of this can be done with just one click on your phone. BFSI (Banking, Financial Services and Insurance) is becoming digital, and BFSI websites are a little different from the E-Commerce websites, thus they need a different strategy. While working with a BFSI website, you need SEO strategies that will help you increase Brand Awareness, Generate Traffic, Improve Rankings, and even get Conversions by garnering the attention of potential customers.

The Best SEO Strategies for BFSI Industry

1. Understanding Your Niche and Customer Base

When you are into a broad sector like BFSI, it becomes crucial to understand your mainstream services or niche. BFSI covers a broad spectrum comprising of commercial banks, insurance companies, non-banking financial companies, cooperatives, pension funds, mutual funds and other smaller financial entities all fall under BFSI. You need to find your goal and decide your customer base accordingly, then with that you can target your potential customer. The primary nature of content in the BFSI sector is informational, because as mentioned it’s a broad industry and for BFSI you must be more informative as it helps your customers to know about your services in depth.

2. Competitor Benchmarking

After determining the niche and customer base of your business, it will be easy to find competitors. Researching about competitors can help in understanding their strengths and weaknesses and gives you a brief understanding of where your business stands in comparison to your competitors. There are multiple categories in BFSI, if you are into insurance policies, your competitors can be PolicyBazaar, EasyPolicy and more. If you want to plan to target mutual funds, your competitors can be ICICI Prudential, SBI mutual funds, etc. If you deal in SIPs, then Groww.in, Smallcase by Zerodha, and so on can be your potential competitors. With the number of changes happening in the BFSI industry these days, it is very important to have a keen observation of the market, competitors and customers.

3. Finding the Best Keywords for Your BFSI Website

Keywords, in generic terms is search query and it can be relevant to your business like “mutual funds”, “compare insurance policies”, “online banking services”. To match the search intent, it’s critical that proper keyword research is done. It is also necessary to know what keywords the potential customers are using to get the answers to related queries, and this can be done by many tools i.e., Google Keyword Planner, SEMrush and more. There are some metrics by which one can sort out perfect, detailed keywords like –

  • Keyword Intent: It defines the intent of your search query, whether it is a commercial intent, informational intent, transactional intent, or navigational intent.
  • Keyword Difficulty: This metrics estimates how hard it would be to rank on the first page of Google for a given keyword.
  • Keyword Gap: This helps you to check your top competitors’ best keywords and the keywords you should work on.
  • Search Volume: A basic metric that determines the number of search queries on a specific search term.
  • Funnel Approach: There is nothing wrong in saying that BFSI is a very particular industry and there are many aspects of BFSI that many customers don’t know about. In the case of BFSI, it will be a wise decision to choose keywords with the help of sales funnel, because your priority should be to become as informative as possible.

Acquisition

Behavior

Conversion

What do people search for when they want to explore your product/ services?

What do people search for when they want to explore a specific product/ service?

What do people search for when they have made up their mind to finally buy/ subscribe to your product/ service?

Be Generic and informational

Be Informational

Be commercial

Ex: best investment plans

Ex: investment plans for x years

Ex: buy investment plan

 

4. How Content Optimization Can be a Game Changer in BFSI!

How can you rank those keywords that you just researched? The first step is to optimize your content and put those keywords in your content through appropriate keyword mapping. Content should be relevant to what the visitors are looking for, because if someone is searching for mutual funds and your content is about traded funds, it will not be a good fit. Also check if the content is unique, as plagiarized or duplicated content is one of the biggest factors of why your website does not rank in SERP. Most of the BFSI websites prioritize EMI Calculator as it’s one of the important features of BFSI websites. Thus, the content optimization should be based on priority of pages, and you can even use FAQs on your website to make it more knowledgeable and relatable.  

5. The On-Page SEO Checklist

On-Page SEO is one of the most important steps of SEO as it consists of many small yet important things like –

  • Meta Tags – These should be informative and specific to your BFSI subcategory.
  • Header Tags – Header tags should be based on your intent-specific keywords.
  • Anchor Tags – These should be certain to your link. If the page is mutual funds, then anchor text would be the same or relative.
  • Alt Tags – This depends on the image. If the image is about a home loan, then Alt Tag should be the same.
  • EAT (Expertise, Authority, and Trustworthiness) Algorithms

All these matters because the crawler keeps on-page SEO on priority and your keyword ranking directly depends on it. You can also publish some informative and trending blogs about the BFSI industry, as it will help in giving a lot of information to your customers. You can use blog titles such as – “The Best Money-Making Investment of 2022”, “Here’s the Ultimate Guide to Choose Perfect Insurance Policy” and more to let people know about your niche.

6. Featuring into Search Queries with Technical SEO

Apart from on-page SEO, all the changes of the site required for better performance of the website come under technical SEO. BFSI websites can contain images, videos and calculators on several pages hence it is important to check all the technical aspects for better performance.  Mobile usability errors, structured data, rich snippets, coverage errors and core web vitals are all part of technical SEO and if the website is lacking in any of these parameters, then it can surely affect the ranking and traffic of the site. You need to ensure that the Robots.txt & Sitemap.xml Files are SEO optimized and provide the right way through for crawlers. You can use schema markups like –

  • Bank Or Credit Union Schema Markup
  • Financial Product Schema Markup
  • Exchange Rate Specification Schema Markup

7. Off-Page SEO: Increasing Brand Awareness

Off-Page SEO increases brand awareness of the services the business is dealing with as it requires you to publish your website’s blogs, articles, infographics, social bookmarking, Business listings and more to other high DA (Domain Authority) websites. It helps in boosting the link juice of the website which is an important ranking factor.

Tip: The best websites to submit your content to should be niche websites related to your business, like finance, banking or investment sites.

8. User Engagement

One of the most important parameters for ranking can be user engagement and for this, you must check what your competitors are doing to engage their audience. As stated earlier, you should keep your BFSI website as informative as possible so that people can check and learn about the niche you offer, like new investment ideas or the best insurance policy plans.

User Journey is one of the key factors to keep in mind while enhancing your website’s engagement. Along with breadcrumb trail, internal linking will also be tremendously beneficial in retaining users and making them understand your product/service

Conclusion

These SEO tactics can help bring in organic traffic to your website and ranking your website up to the Top positions of the Search Engine.