Similar to the fintech industry, the digital world is constantly evolving and trends change all the time. That’s why any marketing strategy for a fintech business needs to be regularly revised to adjust it to new changes, new opportunities and new risks.
Here are some of the fintech marketing strategies that you need to take into account:
Consider Mobile-First: Over half of online users go online via their mobile devices, rather than desktop. On average, internet users already spend over 2 hours on mobile platforms every day. Moreover, the time spent online on mobile is consistently growing year-on-year, while the desktop lags behind.
This data indicates that fintech companies should place an emphasis on being mobile-first as part of their marketing strategy.
Embrace Social Media: Social media has probably exceeded every expectation in how it changed communication.
When it comes to fintech marketing, you’re going to first need to identify the market sector you’re going for — this directly impacts your use of social media and dictates where the most time and energy should be spent.
Whether it’s LinkedIn, Instagram, Facebook, Twitter, Snapchat, Pinterest, Tumblr, Digg, Reddit, TikTok, or YouTube you’re going to need to pick and choose which is best to share your message and adopt a strategy for each.
Content is King: Content is more valuable than ever. Especially in the fintech marketing space!
Millennials, for example, are often confused about financial terms and products, and with many financial companies ignoring the group — they lack proper guidance.
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 financial topics.
Focus on Branding: It is very important to get your branding strategy right at an early stage. Branding will be specific to your company’s culture and the audience you are targeting. For example if you are targeting the younger demographic, don’t be afraid to experiment with branding. Whether it’s a strong, powerful and imposing feeling you want to project, or you’re courageous enough to use a splash of colour — it’s important to keep things fresh and memorable.
Customer Engagement: Engagement with your target audience during your marketing campaigns can be one of the most important factors for building a strong following. Aim to create a personal experience for your customers and prospective customers to see.
Stick to a clearly defined engagement strategy and keep active on social media and all other communication channels with customers.
The fintech industry is growing in its prominence, and digital marketing is a great way for starting or established business to expand its reach and increase the customer base.