Digital Marketing Strategies in the Fintech World

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Digital Marketing Strategies in the Fintech World

The fintech world is one of the most fascinating industries in the world, with the foremost financial tech companies vying to be at the top. For them to reach that, they still need to try and do digital marketing like the rest of us. SEO for fintech is much like what the rest of us need but with a somewhat bigger scope at the end.

Financial technology companies have several challenges ahead, especially if they have a novel and revolutionary product or service to offer. Fintech marketing is dynamic but effective, so thinking outside the box is an important aspect of getting ahead. Here are digital marketing strategies in the fintech world that your company needs to do today.

Define Your Target Audience

One of the first detail that you need to figure out as a fintech business is to know who are you trying to convince to buy your product. A good advantage of the industry is that the verticals are quite narrow, which means you can easily figure out who needs your work. The horizontals are equally as narrow, especially if your service is for general use.

Are you a B2B or B2C business? The strategies for either are different but the key objectives tend to be the same. You would want to establish trust and credibility, especially if you’re a startup or a small fintech business. You would also want to push for educational opportunities in several touchpoints through an email platform.

Once you start your product education campaign, it’s crucial to not only have people talking about your product but also help evangelize with it. By letting people know you’re there, you’re creating a self-sustained flywheel of leads and prospects ripe for customer acquisition.

To do all of these, you need to start knowing your business DNA. Understand who wants your product and service. Conduct some research and learn who you are as a business first.

Leverage Social Media

Social media is not everyone’s cup of tea. Sure, much of it is sharing memes, jokes, and seeing the odd political post here and there, but it’s an indispensable tool that will connect you to a bigger audience. Social media marketing for fintech groups can be a little more different than the average small business.

Fintech social marketing would need a deeper look at the market sector that you want to cater to, as well as find the right social media platforms to utilize. It’s easy to use every social media platform for your business but that will take too many resources. Figuring out the best way to connect with your target audience will be a challenge.

For starters, Facebook, Twitter, Youtube, and LinkedIn are among the most viable options for fintech social media. From here, everything branches into more specific platforms depending on the product and services you have. You would want to adopt the strategy to use per platform, finding the best way to share your message.

Narrow down the specifics of who you’re trying to reach out. Facebook and Twitter are entirely different audiences from LinkedIn and Reddit, so it’s crucial to learn the difference. Social media is not a one-size-fits-all strategy but there is some level of overlap across these platforms.

Use Brand Development Strategies To Connect 

The best branding strategy is crucial for fintech businesses. Most successful financial products and services don’t rely on long-winded educational opportunities to talk to their audience. Rather, they use memorable brand development strategies that are largely dependent on the problems you solve and your target audience.

A good way to develop a solid brand strategy is to look at your brand copy. You want to use branding that is snappy and memorable, as well as creating evocative and descriptive copy that shows your value proposition. You want to be clear with your messaging and be certain that everything you say is crystal clear to your audience.

As part of your branding, you would also need branded colours and a good tagline. Branded colours play with the visual association for your business that you can use in your marketing efforts. A good tagline, on the other hand, take out the guesswork when it comes to your business’ messaging.

Show Empathy As An Organization

Empathy is a key element that much of fintech tend to miss when marketing their products. The financial industry’s reputation is not entirely squeaky clean, known for its cold and ruthless efficiency. This is not the side that you want to show to your target audience, but rather a company that is much less rigid in its rules and more human than the average financial business.

Be more flexible with your operations and adapt to the requirements of your users. Listen to what your clients want and need and use those as a sounding board for your products and services. Educate your customers in a friendly matter and treat them as humans rather than market segments.

A good way to help with your reputation is to sound off on your company values and morals through your marketing. If you have charities or organizations you support, tie them up to your marketing efforts. Connect your social justice with your company to create a more humane “face” to an otherwise faceless company.

Engage With Your Customers

Too many companies tend to turn a blind eye towards their customer engagement and it’s a common red flag. Connecting with your audience as a fintech company creates a better association of your products and services. It also helps convince customers that you care about them.

Create a personal experience for your customers. Connect on social media and reply to their comments. Answer curious questions and chat with them in the comments section. Show your staff at work and tack on a personality to your social media efforts.

Optimize the customer journey by mapping out potential areas of concern, which include touchpoints, bottlenecks, and areas of friction that customers may experience. Use market signals that matter, including the location, income, and motivations of those who patronize your business.

The Bottom Line

Financial technology can be a boring subject for the average person. These are matters of fact for everyone, which makes fintech marketing a trickier, more challenging industry for digital marketers everywhere. It’s up to the marketing team to build strategies that make it more palatable to the company’s target audience.

Leverage the amazing strategies we listed above and power your fintech business with digital marketing strategies that work.

 

YouYaa has been recognised as one of Top 30 UK Digital Agencies by DesignRush

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