Financial services companies for decades have found it challenging to break into the industry. Fintech is changing all that. Innovative startups and tech-first financial companies are finding ways to put themselves ahead of the traditional players. Even in the doldrums of the 2020 pandemic economy, more than 8,775 fintech startups began doing business in North America. Now, these companies have to become increasingly creative to attract attention in a growing marketplace.
With that in mind, the following are six of the best fintech marketing strategies these companies and platforms should keep in mind.
1. Maintain the Human Experience
There is a lot of things technology, including financial technology, can do. There are also things it can’t do. One of those things is to replicate the human experience, which means you can differentiate yourself in your marketing and how you do business by offering a human experience.
Most fintech companies will put their technology front and center in their marketing. However, you need to be the company that can connect the dots for your customers through a human element, showing them not just the features of your technology but what it can do for them.
2. Focus On the Mobile User
Your users are spending most of their day on their smartphones, so you want your marketing, as well as your products and services, to take this into account in all ways. You want your marketing to reach them by highlighting a focus on the mobile experience. Around 91% of all internet users throughout the world are accessing it through their phones.
You can’t ignore that massive chunk of the market, but it’s also harder and harder to get people’s attention.
To gain the elusive attention of the modern consumer or business, you want to make sure that you’re providing a frictionless mobile experience across all of your marketing campaigns. Make your website and ads responsible. Content needs to fit whatever the screen may be, and navigation and optimized load times should be considered here too.
3. Create Content That Offers Value
One way to set yourself apart in your marketing that still remains a challenge for so many organizations is offering content that’s valuable. Your goal with your content marketing isn’t to sell. That will come later if you’re offering consistently valuable content to your audience. They’ll see you as a trusted authority and point of reference to them.
There are actually a lot of opportunities in fintech to create content that resonates, educates, and informs because it’s something many companies aren’t doing. They’re so focused on selling their technology that they aren’t thinking about building relationships.
You can take many complex concepts and also topics that might otherwise be boring and transform them into something digestible, easy to understand, and relatable for your audience. You’re providing financial education with your content.
Then, when it is time to make a purchase decision, you’re going to be at the forefront of the mind of your audience because you’ve provided them with value time and time again.
Don’t ever look at your marketing as passive. This can tie in with the first tip on this list, which is adding a human element to everything you’re doing. Yes, you want to post valuable content, but you also need to make it a habit to engage with your users.
Social media is the simplest place to do this, and you always need to make room for social platforms in your larger marketing strategy.
People of all ages use social media daily, so it’s inevitable that your targeted audience is going to be on there somewhere.
You can use social as a way to deliver customer service and answer questions, but you can also be proactive. Start conversations and get people talking. If you think you can swing it, try to use a bit of humor in there because financial topics can otherwise feel very dry and boring.
5. Work with Influencers
You can use influencers in fintech marketing, but you might approach things a little differently. Look for micro-influencers that have fewer followers—usually between 100 to 500,000. While they have fewer of them, micro-influencers have very engaged audiences.
6. Create Video Content
Finally, as part of your marketing strategy, never underestimate the importance of video. Video can be used to engage, explain and entertain. Video marketing is great for brand awareness, and it can help you bring your culture and value to life in a more personable way.