While building a great product is the first step towards revolutionising this industry, you need the right fintech marketing techniques to make it big in an increasingly saturated market. It’s time to learn how to make your fintech digital marketing campaign work.

What is fintech?

Fintech refers to the integration of technology into offerings by financial services companies in order to improve their use and delivery to consumers.

What is fintech marketing?

Fintech marketing is a process of connecting financial technology companies with consumers using a range of tools, techniques, and tactics to drive demand, traffic, and business growth. An expert fintech marketing agency can help you to define your strategies, reach new users and establish your name in the industry. 

How to develop a fintech marketing strategy?

The fintech boom during the pandemic has not only created many opportunities, but also brought many new players to the market, making it increasingly competitive and difficult to succeed. This is one of the many reasons fintech companies should develop a digital marketing strategy. Here are 9 proven strategies include in your digital marketing efforts:

1. Create well-defined buyer persona

You have already defined your target audience, but it’s always better to be specific. Start by creating marketing personas to help define the demographics you’ll be looking to market to. Buyer personas can include but not limited to:

• Age
• Gender
• Location
• Purchasing habits
• Online habits
• Social media platforms

The more details you add to these personas, the more specific and effective your targeting will be. Marketing it to a wide audience will not only increase your budget, but could alienate your target audience by failing to address their unique needs. It’s recommended to define three or four well defined personas which help you create a well-tailored marketing strategy.

It’s important to consider the massive growth in the fintech industry, with more and more SMEs appearing in recent years, offering a wide range of different services, looking to cater to the new post-pandemic landscape. So, by tailoring your marketing strategy and focusing on your niche audience, you can market directly to prospects who have a high chance of converting.

2. Define the problem you’re looking to solve

With Fintech, financial companies and banks are selling a service that solves a problem. Services can range from debt management, mortgage solutions or even global payroll schemes, but the more niche your services are the better. To create a highly focused marketing strategy, identify and define what problems and pain

points of your audience the technology is solving, and how it appeals to your target groups. 

While marketing strategy should focus on resonating with your target audience, it should not be built around getting you sales. It is definitely the endgame, but start with a customer-centric mindset and tailor your marketing strategies to communicate how you can help solve their issues. This will not only garner trust, but will create better awareness of your services.

It’s important to start by educating your audience and connecting with them by telling them how you will solve their problems. A proven way to achieve this is by producing case studies that show quantifiable results of how your services have helped your previous clients. The goal is to earn trust and establish a long term relationship.

3. SEO is the way to go

Since the dawn of Google, traffic from search engines has always been an excellent way to drive brand awareness, boost sales and generate leads. Googling things before making a purchase has been embedded into our daily lives. 

By closely monitoring your search engine rankings and boosting your rankings, you can generate organic traffic and rank above your competitors in the search results.  From optimising your content to making your site mobile-friendly, you can incorporate various strategies into your SEO efforts to rank higher on Google.

Most users consider pages ranking higher on Google to be an industry leader or most relevant to searches. A well planned SEO strategy will not only get you Google’s trust, but your audience’s too. It’s also important to be patient with your SEO results because it can sometimes takes between 6-12 months before you start seeing results from your SEO efforts,

4. Develop a content strategy

A recent study found that 45 percent of Millennials want financial products and services that help them handle their financial situation, but 37 percent said they could not find resources online to educate them on vital financial topics. That’s not only a shocking statistic, but a gap in the market your fintech content marketing efforts could fill.

Whether you’re looking to reach new audiences, promote a new service or nurture existing leads, content is the king! Creating high-quality diverse content that caters to different target groups will help you reach and engage a wider audience.

You can reach your audience with a variety of content such as:

• Explainer videos
• Blog posts
• Ebooks
• Podcasts
• Whitepapers
• Email marketing
• Customer testimonial videos
• Infographics

Decide the type of content you want to create based on your buyer personas. While creating the buyer personas, identify your target audience’s online habits and what kind of content they prefer and where they go to consume content. This will help you decide what type of content to create, for whom and how to present it to them.

Your defined specific personas will also help determine the topics for your content. Understanding their pain points, and frustrations wil help you focus your marketing strategies on how your services can solve the specific problems of a target group.

In addition to creating effective content, distributing these content through the right channels is also of utmost importance. Use a mix of social media channels to reach a wider group of new and existing audience. 

5. Diversify your social media channels

This bring us to our next point. The pandemic significantly accelerated the global rate of mobile adoption. Studies suggest that over 77% of adults in the UK use some form of social media, with an enormous potential to use it to your advantage to reach new audiences, engage with your current customers and bring back old ones. Social media is the best medium to engage your audience and it’s here to stay.

However, if you want social media marketing campaigns to be effective and bring the results you desire, focus on the platforms your audience use on a regular basis. Allocate a considerable percentage of your marketing budget to social media. 

Your social media presence helps you connect with your audience and establish trust. communication between you and your audience, which allows you to better understand. Most people take to social media to share their experiences. Listen to them and identify the gaps in your current strategy. People are most likely to trust a company that is transparent and listens to them.

6. Make it mobile-friendly

One thing that differentiate fintech companies from conventional financial organisations is that they offer a quicker, easier service thanks to technology. It is important that your business not only digitise your services, but make your website mobile-friendly. Most people use your mobile phones over laptops to access the internet. Being mobile-friendly is crucial to staying competitive, and also the best way to communicate with your customers. 

Research suggests that 61 percent of users will not return to a mobile site if they have trouble accessing it. Further, 40 percent of users will wind up visiting a competitor’s website when they have difficulty accessing one company’s mobile site.

This means ensuring that every aspect of your website can run at total capacity on a mobile device. Including:

• Page loading
• Image loading
• Page response times
• Text size

Making your website mobile-friendly will not only impress your audience but will impress the search engine gods and help your SEO efforts.

7. Go bold with branding

The first thing that people interact with is your branding. So, if you want to leave a lasting impression, make it bold! The right branding can elevate any marketing strategy by giving your audience a connection. 

Once again, your buyer personas will help you decide your branding strategy and what works best for the target audience. Decide on a branding strategy early on and make sure that everything is kept consistent throughout the marketing campaigns

Build a brand identity that your audiences will remember and talk about. A bold brand gives them something memorable to identify with and recommend to their friends and family.

8. Build effective and engaging ad campaigns

Fintech marketing should be about making an impact where the majority of the attention is for that target audience. Financial organisations tend to spend their ad budget on billboards, television commercials, radio ads, etc. While these may be effective to a point, you need to realise your audience is online, so you need to place your attention to your ad campaign online as well.

In a time where paid digital advertising is thriving, every fintech business should be maximising its advertising potential by investing in paid ad services. One of the main benefits of paid advertising is that it’s relatively easy to set up, and can be cost effective if you can hire an agency to plan and manage your campaigns. Here at Radical, we offer an automated paid ads management service that helps fintech companies create bespoke ads that are laser-focused on reaching their target audiences and creating conversions.

We’ve found that paid advertising services can help you:

• Garner immediate results with relevant leads
• Contribute to higher overall quality website traffic 
• Grow even through algorithm changes
• Experience a higher return on your interest
• Gain more brand recognition

9. Harness the power of videos

Motion pictures are of content where the focus of the consumer is fully directed and concentrated on the media in front of them. And that’s a very powerful marketing tool to keep your audience engaged and invested. 

YouTube is the second second largest search engine in the world with a search volume that is larger than that of Bing, Yahoo, AOL and Ask.com combined. YouTube is not just the home of entertainment, but holds informational guides or how-to videos that users are looking for. Increase your outreach, engage with your audience and demonstrate how your product or service works in a video format. It will not only provide your audience with the information regarding your services, but connect with them on a platform they are very comfortable to use. 

The fintech industry is growing and it’s here to stay. So, it’s important develop a marketing strategy that makes an impact. By hiring a fintech digital marketing expert like Radical, you’ll be in a much better position to succeed. We’ve worked with global names such as Barclays, Lloyds, Co-op Bank, Brit Insurance and London Stock Exchange and consistently generated unbeatable ROI.

Looking to develop a digital marketing strategy that resonates with your audience? Speak to one of our Digital Marketing Experts.

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