Goodbody (New)
Goodbody, Ireland’s Longest Established Wealth Manager, Celebrates Three Years of Modern Investor Insights with Finimize
About
Goodbody is Ireland's leading financial services firm with roots dating back to 1874. In 2021, Goodbody became part of AIB Group PLC.
Industry
Financial Services
Location
United Kingdom
Company Size
201-500
In conversation with
Ken Darmody
Head of Transformation and Digital Channels
challenge
Goodbody has been going since 1874, so it knows a thing or two about investment and wealth management. It also understands that you have to move with the times and what today’s retail investors want differs from those 10, 20, or 100 years ago. After all, you don’t stay at the top of your game for well over a century without going through a few refreshes.
So, recognizing that today’s investors rely heavily on accessible, engaging content to improve their investing skills, Goodbody started thinking about how to introduce just that into its offering.
Creating that content in-house, however, or hiring freelancers to tackle it, is often easier said than done.
impact
- Goodbody leveraged Finimize's content API to complement their existing content strategy, improve customer experience and increase retention.
- By integrating Finimize’s news and insights into a new daily newsletter, Goodbody is empowering their clients to stay up-to-date, generate investing ideas and execute with confidence.
- With Finimize’s help, Goodbody took its content strategy to the next level and is unlocking new ways to engage existing and potential new customers.
solution
result
- 82% of customers find the content easy to read
- 70% of customers find the content useful
- 70% of customers are highly satisfied with the overall content
- The open rate for Goodbody’s newsletter increased to 60% and the number of subscribers increased
Their story
Goodbody’s refreshed content strategy was built around two things: providing its existing customer base with dynamic, high-quality, relevant content and offering local market insights from its own in-house investment experts.
But doing that well and at scale is hard.
Fortunately, Finimize came onto Goodbody’s radar in Q1 of 2021 after our team reached out. We offered a fresh perspective on how modern investors like to talk about finance and how that can help not just engage a new generation, but improve the investing experience of its traditional audience. Goodbody agreed and by Q4 of 2021 the partnership was ready to go.
The partnership offers us new ways of engaging with existing and attracting new customers. The format used by Finimize (described by clients as concise and digestible) has been its greatest appeal with clients.
Ken Darmody
Solution
Goodbody decided to start with the Finimize API, our content solution that delivers a fully automated but tailored content experience, at scale, centric to the educational needs of a business’s core client segments or individual client profiles. This also allows them to block content that doesn’t align with in-house views or engagement goals.
We also worked with Goodbody to integrate our Finimize Daily News API into Goodbody’s Daily Investor Briefing – available to all Goodbody customers. The Finimize Daily Brief delivers curated financial news in under five minutes or less: not only does it help keep readers on top of global financial stories, it also delivers clearly actionable insights and overarching market analysis.
The details are very informative but concise. It gets to the point, and the impact summary is particularly useful and interesting.
Ken Darmody
What was the impact?
56% of consumers with financial education become relationship customers and they are now 2x less likely to switch services.*
Shortly after Goodbody integrated our Daily News API into its Daily Investor Briefing newsletter, the open rate increased to 60%. For context, the industry average for financial services is less than 30%*.
Off the back of the newsletter's success, Goodbody asked its customers what else they would like to see. Considering the more experienced investor base, it was no surprise that they were keen for industry deep dives and analysis. So, Goodbody expanded the partnership with a license for Finimize’s Analyst Insights via our Self-Serve platform (Finimize Select) in 2023.
- Finimize Analyst Insights: 8 hours of analyst research generating investing ideas, highlighting opportunities and giving walk-throughs of professional techniques and strategies
- Finimize Select: Content licenses with manual access to utilize our web platform and access content via general search and predefined hubs. Offering bookmarks to curate the ideal content experience for their users by simply downloading what's relevant.
Since the launch, Goodbody has kept an eye on how its customers feel about the content. To date, 70% of customers are satisfied with the content and find it useful, while 82% find it easy to read.
Across the Goodbody platform, users are consistently encouraged to improve their investment skills further via Finimize content. There’s even a dedicated Investment Education Hub offering a series of educational videos.
Goodbody has also been able to use the new content to build out an Instagram strategy that launched in November 2021.
Highlights
The partnership has been going strong for three years now and in that time, the focus has shifted. Where the initial priority was engaging existing customers with daily news and insights, the content is now used to build “top of funnel” engagement via the Daily Investor Brief newsletter and Instagram account. To build on this, Goodbody has been gradually expanding the scope of the partnership every year since it started.
Plus, at our annual Modern Investor Summit in 2022, we had the pleasure of hearing from one of Goodbody’s analysts, Joe Prendergast (Global Strategic Advisor & Head of Investment Strategy), who was part of a panel on stage discussing “Growth in The New Era”.
You can subscribe via this link to Goodbody’s Daily Investor Brief.
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