FinTech is big business and this trend looks set to continue as more and more exciting products enter the market. But as the marketplace is becoming quite crowded and brands are finding it harder to stand out.
So what marketing strategies should your FinTech brand be following? Read on for our top tips.
The entire premise of FinTech is based on how forward-thinking and disruptive it is compared to traditional financial services. So your brand needs to stand out and carve out its own unique personality in the marketplace.
Nail your value proposition
Even if you provide a lot of the same services as other products, you need to be able to differentiate yourself clearly. Articulating your services and explaining them clearly will attract your target audience to you. For example, Self Directed IRA LLCs from https://www.accuplan.net/self-directed-ira/checkbook-ira/ take a potentially complicated topic and make it very clear. Your value proposition should be clear across all of your marketing.
Focus on mobile
Users expect to be able to access and learn about their FinTech products on their mobiles as standard now. Not focusing the user experience on this platform is a sure way to alienate your target market. Ensure your UX is top-notch before going to market.
Invest in influencer marketing
This is one of the most effective ways to market to a B2C audience. Finding relevant influencers and micro-influencers will provide you with an excellent bang for your marketing buck. Use a specialist influencer PR agency if you’re unsure of how to target the market in this way.
Establish yourself as thought leaders
Content marketing and thought leadership are vital to emerging FinTech brands. Building credibility in the market needs to be done fast in order to gain the trust of users. Providing informative and useful content in your brand style. Use outreach, blogs, infographics, videos, and newsletters to distribute your content.
Great examples of this are challenger bank Monzo, who have quickly established themselves as brand leaders. Their tone of voice and brand personality are absolutely adhered to across all of their communications and is often distributed around the marketing and communications community as an example of how it’s done. Great brand strategy has blown multi-billion financial institutions out of the water in this respect.
In addition to crafting great content to attract new customers, you should also be devoting a significant amount of resources to retaining and educating users too. After all, keeping a customer can be far more valuable than attracting them over the lifetime of the relationship. Always look beyond the buying stage of the customer journey.
Financial services marketing has historically been seen as boring, corporate, and unable to change with the times. However, the recent explosion in FinTech is changing the way the world thinks about and interacts with financial institutions in a big way. However, with fewer resources at their disposal and more products entering the marketplace, FinTech marketers have a challenging future ahead of them.