Fintech is ever-changing and constantly moving, shaking businesses and marketers at every particular time. The financial tech sector continually changes its ways and trends which wear out marketers and make it difficult for brands to keep up with their demands and needs.
Fintech marketing has made marketers lives easier because not every brand can sustain itself by conducting general digital marketing strategies. The tech-driven world is becoming increasingly fierce and creating their own space has become monumental. The uninstall rates of fintech apps are gradually increasing, which enables marketers to utilize fintech marketing strategies to create innovative solutions and long-lasting customer relations.
How Does Fintech Marketing Help?
Fintech marketing has made the lives of businesses easier as businesses can find their target customer base more effectively than general digital marketing strategies.
Some of the pros of fintech marketing are as follows:
- Fintech marketing is the best way to promote innovative products and services. They efficiently communicate the value and working of brand offerings through compelling marketing messages that give a massive boost to their digital presence and prove more effective compared to general digital financial services.
- Fintech Marketing Strategies ensure their brands are accessible to the right audience. They manage different marketing fields, from Search Engine Optimization (SEO) and content marketing to social media marketing and partnerships. They utilize the right channels to find a niche audience.
- It aims to bring promising business growth opportunities. They manage all the stages of the sales funnel, which involves strategies that manage to find new customers, nurture relations with customers, and find unique ways to retain existing customers by analyzing customer data and optimizing campaign performance.
Cons of Fintech Marketing:
- Fintech is unlike any other consumer or e-commerce brand. This industry comes with severe regulations and complications. Therefore, to tackle them wisely, fintech marketers must raise their marketing efforts and ensure their promises are not wrong or legally wrong. To bridge the gap between compliance regulations and effective marketing is always a nosy task for marketers.
- FinTech and SaaS businesses usually have high Customer Acquisition Costs (CAC). Considering their higher payment models, marketers need to go through several efforts and funnel stages to earn a paid conversion. This makes marketers constantly find ways to maintain their CAC costs.
Some of the Best Strategies for Fintech Marketing
Some of the strategies of fintech marketing are:
Educating Prospects By Having Authentic Presence
Fintech marketing operates on educating first, then marketing eventually. The Fintech world is highly regulated and fast-paced. Every day, new security measures and threat warnings arise. Therefore, to create loyal and trustful relations with customers, brands need to be trustworthy entities that provide the latest news related to the fintech world. From financial security to handling digital payments or bills, their brand should be the go-to source for delivering the latest innovations and news.
Some of the ways brands should adapt are:
- Keeping Up with Industry Trends and Norms: To find the approval and nod of your customers. Brands need to be upto date with industry trends and insights.
- Creating valuable and authentic content: The soul of thought leadership is to create content that speaks directly to customers’ pain points and solves their queries instantly. This can be blogs, newsletters, whitepapers, and podcasts.
Nurturing Relations With The Help of Email Campaigns
B2b email marketing is the crucial weapon of fintech marketers. Many fintech marketing campaigns revolve around email marketing efforts. Its unique communication medium gives marketers access to create new customers and retain existing customers through the constant back and forth between brands and customers. Some of the primary campaigns are email newsletters that include fintech insights and trends in their content, which come under prospects’ inboxes weekly or monthly.
Enabling Social Proof as Utmost Priority
Most fintech users are usually more skeptical and smart in today’s age. Therefore, partnering with trustful personalities and social influencers gives them an edge over competitors and builds confidence among customers regarding authenticity. Some of the ways to conduct digital marketing for fintech are:
- Sponsored Content: Collaborate with vloggers and social media influencers to create content.
- Referral Programs: Encouraging customers to spread positive word of mouth about their offerings to their friends and relatives in exchange for discounts and rewards.
Wrapping Up
Fintech marketing is impacting businesses that need to stand out in a saturated and fierce financial tech world. From managing fintech complex regulatory issues to creating educational and thought leadership content. This allows brands to create trust with prospects first ultimately increasing their brand awareness and market capital.
