Designing a Content Marketing Model in the Banking Industry with Emphasis on Implementation Stages and Processes

Abstract

Objective: The present study aims to design and provide a well-founded and reliable framework for content marketing in the banking industry of Iran, with the objective of enhancing the effectiveness of this approach and contributing to increased market share and profitability of banks. Methodology: This mixed-method research was conducted in two phases: qualitative and quantitative. In the qualitative phase, grounded theory was used to design the model. A purposive sampling method was employed, selecting a group of academic experts and banking industry specialists, and in-depth interviews were conducted until theoretical saturation, which was reached after 15 interviews. The collected data were analyzed systematically and continuously in three stages: open coding, axial coding, and selective coding. In the quantitative phase, the designed model was validated using confirmatory factor analysis based on a covariance approach, and path analysis was used to finalize the model. Findings: During the open coding stage, 188 concepts were extracted, which were grouped into 41 categories through axial coding. Finally, 10 main categories were identified: understanding the business and planning, establishing a content management and strategy unit, defining content marketing goals, understanding the audience, identifying audience needs, generating content ideas and topics, managing content production, managing content dissemination, managing customer expectations and experiences, and gathering feedback for process improvement. The final model was developed based on these categories and validated in the quantitative phase. Conclusion: This study presented a comprehensive and clear model for content marketing in the banking industry, outlining specific stages and processes for implementation. The model has the potential to enhance the effectiveness of content marketing strategies and contribute to the improvement of market share and profitability for banks.