We are thrilled to have the opportunity to sit down with Andrei Alekseev. He is a marketing professional whose career spans an impressive 18+ years across various industries. From his early days as an “advertiser since school” to becoming a Chief Marketing Officer in the dynamic world of FinTech, Andrei’s journey is nothing short of remarkable. His track record of bringing startups to market and scaling multi-million dollar companies speaks volumes about his innovative approach and adaptability in the ever-evolving marketing landscape. As we dive into our conversation with this marketing maverick, we’re eager to uncover the strategies, challenges, and insights that have shaped his illustrious career in the FinTech sector and beyond.
Your career has taken you from FMCG to betting and financial markets. How has this diverse experience shaped your approach to marketing in the FinTech sector?
That’s a great question. I’ve been in the FMCG industry for quite some time. I started by promoting Pyat Ozer vodka and then moved on to work with a large supermarket chain. When I transitioned from Domino’s Pizza to the betting industry in 2010, the first thing I noticed was the lack of a tangible product. In fintech, there isn’t a physical product that needs to be developed, distributed to stores, and then marketed to customers. Additionally, in fintech, you can’t sell anything to customers without them having money upfront—there are no installment plans or loans.
The second thing I observed was the repetitive nature of promotional campaigns in fintech. In the betting industry, these promotions typically include free bets, account credits, or football tickets. In fintech, it’s even more limited—99% of the time, it’s just crediting money to a personal account.
My experience in FMCG taught me the importance of being close to your customers and maintaining transparency. It’s crucial to bridge the gap between the online world and the physical one. With this approach, I introduced many exciting promotions in fintech with real prizes, from iPhones and vacation packages to cars.
You mention sending people into space (or stratosphere) as part of your marketing efforts. Can you elaborate on this campaign and its impact on brand awareness?
In 2016, while I was working for a well-known financial broker, we decided to launch a contest for traders to boost trading activity. We offered several valuable prizes, including an iPad, MacBook, and iPhone, but wanted something truly unique as the grand prize. We couldn’t think of anything more exciting than a flight in a MiG-29 military fighter jet. After all, trading is often about emotions and adrenaline, and those who can make substantial profits with a small initial investment are often referred to as “astronauts.” So, it was a perfect fit.
https://youtu.be/dch6O8QqwP4?si=v7goR2H-vCiRByD7&t=100
Even though this campaign didn’t significantly increase our brand awareness, I still consider it one of the most successful promotional efforts for retaining users. We were able to counteract the typical seasonal decline in trading activity among our customers.
With 14 years in FinTech, you’ve witnessed significant changes in the industry. What do you consider the most transformative shift in FinTech marketing over the past decade?
The most transformative shift has been the rise of mobile applications. I distinctly remember when the phrase “Mobile First” suddenly became prevalent in 2013. From that point on, nearly every company started focusing on developing mobile products.
This shift had a profound impact on advertising strategies as well. Starting in 2014, there was a noticeable migration of paid advertising traffic to mobile platforms. First, we phased out all offline channels, such as magazines, newspapers, TV, and out-of-home (OOH) advertising. Then, banner ads on popular websites began to decline.
Today, in the fintech industry, directing traffic to desktop sites has become rare. If it does happen, it’s usually only through branded keywords on Google or Bing.
You’ve worked with both zero budgets and presumably substantial ones. How do you adapt your marketing strategies when faced with limited resources versus ample funding?
Interestingly, the smaller the budget, the more creative the advertising tends to be, and the more rationally the funds are spent. When there isn’t much money for advertising, the entire strategy focuses on excelling in one area and leveraging virality. For example, this could involve maximizing the impact of existing clients through a “Refer a Friend” program or using affiliate marketing, where you pay for an already converted customer. The icing on the cake is guerrilla marketing and creativity.
When I had no budget in the betting industry, we brainstormed unique bets to attract media attention. A notable example was offering bets on Lenin’s burial, which got us significant coverage.
On the other hand, when a company has a marketing budget, its strategy can be much more aggressive. There’s room for expansion and a greater ability to test various traffic sources, making it possible to scale up effectively.
At YouHodler, you increased brand recognition. Can you share a specific strategy or campaign that significantly contributed to this achievement?
When I joined YouHodler, it was a young startup with a controversial reputation. Just three months before I came on board, vpnMentor released a report highlighting security issues on the platform, where some users’ personal data was publicly accessible.
To address this situation and improve the company’s image, I developed a PR strategy focused on transparency, which is still in place today. Typically, FinTech companies operate quite secretively. It’s often unclear where their offices are located, how many people they employ, who those people are, or where they come from. Development plans, roadmaps, and especially financial statistics are rarely shared.
I believe we were the first crypto startup to really open up to our clients. We created dedicated pages on our website to provide physical evidence that we were a legitimate, human-centered company—featuring photos of our team members and our office. We also started actively participating in conferences, setting up our own stands and booths. Over two years, we attended all the major events, from AWC and CWC to Blockchain Week in Paris—the event where the fall of Terra Luna was a major topic of discussion.
Moreover, we became the first private company in our sector to openly publish our financial statistics on our website, including the number of new clients, the volume of transactions, interest paid on deposits, and even our revenue. This approach gave a tremendous boost to our brand. We even noticed an increase in the number of people transferring their crypto to us from Nexo and Celsius wallets.
Building high-performing marketing departments has been a hallmark of your career. What’s your approach to assembling and nurturing a top-tier marketing team?
Throughout my career, I’ve done a lot of hands-on work. I know how to write compelling copy, create effective advertisements, and launch successful campaigns on platforms like Facebook and Google. But at a certain point, you realize that you can’t do it all on your own, and that’s when you need to build a team. My hiring approach is quite unique: I always aim to hire people who are smarter than I am—those who excel in areas where I may not.
During interviews, I rarely focus on a candidate’s resume. Instead, I look for individuals who are genuinely passionate about what they do, people who love their work. These are the types of people I enjoy working with. You don’t need to constantly oversee or micromanage them because they are self-driven and perform exceptionally well, simply because they enjoy their work.
You’ve managed marketing for both startups and established companies. How do you tailor your marketing approach differently for these two scenarios?
In large companies, things move slowly. You typically work a standard 9 to 6 schedule, with important decisions made no more than once a week, often during a meeting with the CEO. As a marketing director in such a setting, you have the luxury of time to think carefully, weigh your options, and calculate outcomes before getting approval for your strategies. In large organizations, aggressive tactics are rare, and there aren’t many opportunities for rapid scaling. The focus is often on refining and expanding channels that have already proven effective.
In contrast, at smaller companies and startups, the pace is much faster. You’re constantly working, often around the clock, and are always on the move, experimenting with as many options as possible to find scalable opportunities. The dynamic environment demands quick decision-making and a willingness to test new ideas frequently.
In your role at Libertex Group, you managed various aspects of marketing operations. How do you balance the creative and analytical sides of marketing in your decision-making process?
That’s a great question because, in truth, I didn’t try to balance them equally. Almost all decisions were driven by data. If we noticed that money was being spent ineffectively, we would shut down those campaigns immediately. However, this focus on analytics didn’t mean that creativity was sidelined. We continuously developed fresh and engaging ideas for our clients. For example, in 2017, we launched the “Santa Forex Giving Presents” campaign, where we gave away valuable gifts like skates, skis, the latest tech, and even snowmobiles. Remarkably, not only did these promotions pay for themselves, but they also turned out to be incredibly successful.
The FinTech industry is known for its rapid pace of innovation. How do you stay ahead of trends and ensure your marketing strategies remain cutting-edge?
As Ogilvy once said, a good marketing strategy can remain relevant for decades. I may have been fortunate, but three times I’ve crafted marketing strategies that continue to be effective today, with only the promotional tactics evolving over time. Yes, the FinTech industry is very dynamic, but its core principles remain unchanged. The services you offer are similar to those of your competitors. The key is identifying what your company does better, focusing on that strength, and targeting the right audience segment.
Looking ahead, what do you believe will be the next big challenge or opportunity in FinTech marketing, and how are you preparing to address it?
I am confident that regulation will be the next significant challenge. Over the past 14 years, I’ve seen many shifts in the industry, including the downfall of large companies and even entire sectors. Platforms like Google, Meta, and TikTok are increasingly regulating advertising in the FinTech space. I believe that as this trend continues, capturing users’ attention will only become more challenging. To prepare for this, it’s essential to stay adaptable and focus on compliance, all while continuing to innovate within the regulatory framework.
