As COVID lockdowns kept people in the home and stock market prices fell, a large number of people decided to try their hand at investing, especially through popular apps like Robinhood. In 2020 alone, the brokerage industry saw an increase of 10 million new clients, and this trend appears to remain steady this year as well. However, with this large increase in individual traders, not all have the know-how when it comes to investing, leaving many traders quite vulnerable. To this purpose, business white papers are an advantageous tool for brokerage companies to develop as they can provide the type of information newcomers need.
White papers are informational documents meant to promote products or services offered by a company. Distinct from typical marketing tools, white papers aim to provide factual and technical information on their services. Such type of documentation can be quite valuable especially in presenting a potential client with information on why a company’s services provide the perfect solution to a problem or explaining why their services are superior. When developing white papers for your company it is beneficial to have a subject matter expert write these documents as they have a particular insight into the services offered.
Technical documentation writers have relevant experience as they often write well-researched materials and have in-depth knowledge in a variety of industries. Tech writers not only have the knowledge and research savvy to produce white papers, but they are also able to translate industry-specific terms and language that can be easily digested by anyone. The accessibility of white papers benefits a company in that they can appeal to the everyday person that may be searching for the solution a certain company offers.
How White Papers Can Benefit the Brokerage Industry
To start off there are a number of different types of white papers you can use in the financial industry. One such type is the backgrounder, which is meant to provide an overview of a company’s products or services, and how the company is superior to other similar businesses. Another is the problem/solution type, which intends to educate the reader on a solution that the company offers to an industry-wide issue. Well-written white papers help build a company’s reputation and credibility especially if they are effectively educational. If a company appears to know what they are talking about and are able to educate the reader, the reader may develop trust in the company and opt-in to their services. Although white papers are not meant to explicitly sell to the reader, the persuasive nature of these documents can help push readers towards converting.
Providing white papers for clients to peruse can help to not only establish trust with a company but can provide some much-needed educational materials, especially for new investors. Lack of such materials can lead to some legal trouble. For instance, last year the Massachusetts Securities Division filed a complaint against Robinhood for aggressively marketing to inexperienced investors and allowing them to participate in complicated trades. In response, Robinhood added improved educational materials as a show of good faith to provide new investors with the knowledge they need to begin trading. The use of white papers in such an instance as this can help to persuade a client to use a company’s service and provides them with the adequate knowledge needed to participate in activities such as trading. It is also critical that brokerage companies provide white papers that are easily understood to attract the interest of newcomers that may not be so experienced in trading. Technical documentation writers are quite well versed in transforming difficult concepts into digestible information.
Given the unprecedented rise in new brokerage accounts since the beginning of the pandemic, white papers can prove to be an essential tool to entice new investors to your company. Cryptocurrencies have been known to publish white papers in efforts to attract investors and users, and one such famous example is that of the Bitcoin white paper which eventually led to the launch of Bitcoin. These educational documents can be quite effective in generating leads as they educate the reader on the products or services being offered and help build credibility in the mind of the reader. A study shows that 68 percent of readers of white papers have gone on to contact an organization after viewing their educational documents. In order to capture the attention of the reader, your company’s white papers must be able to inform and educate while persuading the reader to become a client. Technical documentation writers have such experience in producing white papers that appeal to all kinds of prospective clients, whether they be another business or an individual.
How EDC can help
EDC’s technical documentation writers have the appropriate knowledge to develop white papers that are well researched and use language that can help persuade a reader to become a client. They are also subject matter experts in a variety of fields as they have decades of experience in medical, scientific, and financial technical writing. As our writers have technical knowledge in these fields, they are adequately prepared to produce marketing materials for products and services in the form of a white paper.
Whether you need a team of consultants to produce a complete line of documentation or a single technical writer for a brief project, Essential Data’s Engagement Manager will lead the project from start to finish. At Essential Data Corporation, the quality of our work is guaranteed. Contact us today to get started. (800) 221-0093 or email@example.com
Written by Diana Guerra