Right now, it’s all about fintech. According to Deloitte, a multinational professional services network research, the financial services industry is ready for upheaval. Fintech is ready to replace many of the old strategies of the traditional banking system with new tools such as blockchain, machine learning, AI, mobile, and others. Finance is already viewed with skepticism by many people, whether they are regulators, potential business partners, or consumers. Fintech firms must take their marketing efforts seriously. Effective fintech marketing should prioritize an excellent user experience. Do you have a hard time defining what constitutes a solid FinTech marketing strategy?
There is so much contradictory information. It might be difficult to grasp how to do fintech marketing to boost your business.
It’s easy to create Fintech Marketing strategies for a high ROI.
What is Fintech Marketing?
Fintech marketing is the highly specialized profession of promoting and advertising financial technology companies. In particular, new and developing ‘Fintechs’ will frequently turn to a specialized Fintech marketing firm to verify their product idea, acquire early adopter users, or power expansion in the scale phase once product-market fit has been proven.
FinTech Marketing – B2B vs B2C
FinTechs working in the B2B arena have an edge here because industry verticals are smaller and less expensive to enter than consumer sectors. However, if your FinTech is a broad-based B2C, and unless you can leverage some big alliances, you may be looking at a lengthy, costly market education process before the conditions are ideal for expanding.
This blog will help you through the entire process of developing an efficient Fintech Marketing Strategies You Should Try This Year
1. Make Trust a Priority
We work in an industry that has historically been plagued by a lack of trust. On top of that, we’re talking about money management. Every fintech should prioritize trust. Customers who trust you will have your app on their phone’s homepage. Have clients who adore your product and tell their friends about it. Customers who trust you are those who are willing to try out your new features and provide feedback.
Isn’t that incredible? So, how can you build trust in your brand?
- Provide useful content that both explains and reassures.
- Use social media, email, and in-app messaging to engage customers in two-way dialogue.
- Encourage the use of user-generated content (UGC) on social media.
- Encourage users to leave feedback on your products or services.
2. Make Social Media your Best Buddy
Social networking is an excellent tool to generate leads, money, and consumer feedback, and increase brand exposure. Whether your target customer is a Gen Z, Millennial, or Baby Boomer, social media will be an essential component of any marketing campaign.
When it comes to fintech marketing, you must first determine the market segment you want to target – this directly affects your usage of social media and defines where you should spend the most time and attention.
Whether it’s LinkedIn, Instagram, Facebook, Twitter, Snapchat, Pinterest, Tumblr, Digg, Reddit, TikTok, or YouTube, you’ll need to identify which is ideal for sharing your message and develop a plan for each.
You can check out this blog for social media marketing tips: https://sabpaisa.in/top7-reasons-fintech-startup-should-focus-on-social-media-marketing/
3. Create Valuable Content
It is exactly what it says on the tin: valuable content. Whether you’ve written a listicle that clarifies a topic in the reader’s mind or a how-to guide on poaching an egg, valuable content is gold. After all, you’re reading this because it’s useful and interesting, and you found us on Google.
Content is more valuable now than ever before. Especially in the field of fintech marketing!
Valuable material fosters trust, which is essential when selling anything, especially a financial product!
4. Increase Focus on Mobile
Fintech firms have built their products on the internet and cloud services. All services are accessible via a web browser. However, for a product to be successful, the emphasis should be on mobile. Smartphones have gotten more affordable, and cellular internet is now available almost everywhere.
As a result, developing a mobile-friendly website should be a top concern. It’s even better to have a dedicated app. Apps can take advantage of device-specific capabilities to improve the security, fluency, and usability of the experience.
5. Go Bold with Branding
If you want to make a big impression with your fintech marketing, start with branding. Your branding will be the first (and last) thing that people will interact with, so make it deadly.
You can have the best content, a brilliant social strategy, and a terrific mobile-based platform, but if your branding looks like it was established around the time dinosaurs roamed the Earth, something isn’t going to sit right.
Branding is, of course, unique to your company’s culture and the people you are attempting to reach. If you’re aiming for a younger audience, don’t be scared to be daring with your branding.
Whether you want to convey a strong, forceful, and intimidating mood, or you’re brave enough to utilize a large splash of color, it’s critical to keep things fresh and memorable to avoid the slip into ‘nothingness.’
6. Invest in Influencer Programs
When it comes to fintech marketing strategies, influencers appear to be the best-kept secret that everyone talks about. Despite this, relatively few financial institutions are capitalizing on the potential of employing social influencers to market and promote their product.
Influencers are special in that they already have the attention and popularity that firms sorely need to promote their product.
With innumerable social stars available on YouTube, Twitter, Instagram, and Facebook, as well as millions of viewers, it’s a terrific tactic that promotes rapid product awareness.
7. Have a Company Blog
A blog is vital for any brand, not just those in the finance industry. A blog educates customers, fosters trust, and boosts conversions.
Here are the most recent figures:
- Websites that additionally include a blog have 434% more indexed pages.
- Companies that blog receive 97% more connections to their websites.
- Blogs have been ranked as the fifth most trustworthy source of online information.
- Blogs are read by 77% of internet users.
Of course, you want your website to be the first result when potential clients search for your company name on Google.
A user who reads a blog regularly knows and trusts you. As a result, it is critical that the blog publishes product updates and educates consumers about market trends, products, and financial lingo. A blog adds value and is a wonderful method to outperform your competitors in terms of customer service.
8. Get into Email Marketing
Emails allow you to communicate directly with people who have requested to hear from you. You can use email to improve customer retention and brand trust. It’s also a great approach to learning more about what your customers want: Do they desire infographics? What about more thought leadership? Or perhaps more community-focused articles? Email marketing can assist you in determining this.
With email, you can know who is opening, clicking through, and converting. It enables gathering input and improving certain features easily.
Get more information about email marketing for fintech with https://sabpaisa.in/financial-services-industry-email-marketing-customer-retention/
9. Go Visual with Infographics & Videos
A user has to choose between a one-minute video and a five-page document. Which one do they choose? The video, of course. Customers are accustomed to receiving quick and snappy communications via Instagram, Snapchat, and YouTube. Fintechs in this market has an opportunity that established organizations did not have because they did not cater to the younger generation through the same channel.
- 78% of internet users watch video content online every week. 55% watch online videos every single day. And 54% want brands to produce more content. The demand is there, so why not respond to it?
- Viewers retain 95% of the information they watch through a video. That’s significantly more than through written text.
10. Be Smart with Ad Campaigns
You’ve never had more options for fintech marketing ad campaigns than you do now.
The issue that we notice with many financial organizations is that they are not promoting this year.
Fintech marketing should focus on generating an impression in areas where the target audience receives the majority of the attention. Many businesses, however, continue to rely on television and radio commercials when they should be utilizing Google, YouTube, and Facebook Ads.
Setting up Google and social ad campaigns with realistic budgets, demographics, interests, keywords, visuals, and a call to action is important for success in 2021.
Everything can be optimized with a few mouse clicks.
Marketing is difficult. That is something we can all agree on.
Marketing in the fintech area is, in many ways, considerably more difficult.
Financial services are relatively mundane, day-to-day components of our lives. To put it another way, dealing with personal finances is something that we all have to do. But, to be clear, no one will come to you with a big smile on their face and exclaim, “Oh my God, I had such a wonderful experience opening a new savings account today!”
That being said, just because financial technology is boring doesn’t mean your marketing strategy has to be.
As we highlighted in this article, you can do a variety of effective things to ensure the success of your fintech brand and marketing efforts.