You’re done with your product. Making small sales here and there might have few referrals or word-of-mouth.
Now, what next?
The question arises: how will you sell your unique yet sophisticated idea to the masses? At this juncture, only you can understand.
Lets’ accept that you are the master of your product and not a jack of all trades. While the antic Fintechs used to be all about lending, insurance, and wealth management, the latter includes groundbreaking technologies, digital marketing, user experience, and marketing automation.
So partner with likeminded who is master of marketing. In this ever-competitive era, the only way you can present your product to the right audience and outdo your competitors is through super-targeted marketing!
It helps to educate your customers about your product, thus nudging it as a viable solution—finally, more sales and money, which we are all doing for.
Without further ado. Let’s dive in!
Seven game-changing digital marketing strategies
Here we’ve outlined seven digital marketing strategies- You can devise them per your business requirement and churn maximum benefits. Let’s start.
1. Mobile first marketing
“46% of Americans spend five to six hours on their phones daily.”
It makes clear that even if you make great content and info to share- it doesn’t make sense if you don’t have a frictionless experience for mobile users!
It is crucial that your app is well optimised for mobile devices, thus igniting user engagement. Collaborate with your design team and gauge audience preferences. Implement seamless integration and navigation at users’ utmost ease – that’s how you can easily furnish mobile cum customer-focused user experience and marketing.
2. Bespoke individualised customer needs
Right offer to the right person at the right time – this summarises all the marketing.
If you cant offer customers what they want, you cannot convert leads.
The benefits of personalised and customer-centric marketing can be reaped with bespoke content and campaigns- pertaining toward robust segmentation per customer journey.
Eventually, it benefits to package your services and features according to existing customers’ pain points. Again, it’s all about higher retention and lesser acquisition cost.
3. First, earn some organic eyes, then go paid.
Let’s commit; no one is perfect.
And organic traffic is the best way to testify and nullify the limitation of your product— according to a recent study, 47% of customers use ad block technology. It means that paid ads are meaningless unless you’re not backed by social proof from your organic spectators.
There are many organic strategies like podcasts, newsletters, and blogs, but a recent one gaining momentum and heat in fintech marketing is Gamification.
In case a company runs contests, puzzles, quizzes, and prices through broad points for completing transactions or purchases- it can be widely used in pre-launch campaigns and go-to-market strategies.
4. Collaborate with influencer marketing
Fintech brands have been relatively slow to leverage social media influence.
However, it’s booming, and even c-suite fintech leaders are finally getting the hang of it.
Influencer marketing includes- Collaborating with third parties or influencers to promote your product in exchange for a bonus or commission. Influencers can be marketers, professionals, and media providers.
Klarna adopted influencer marketing in style with one of the pioneers of Hip Hop, Snoop Dogg. So Klarna rebranded its marketing campaign— and its campaign ‘Get Smoooth’ got featured in many places, and video ads climbed the charts.
Furthermore, Influencer marketing can be a crucial ploy to gain market share with Gen Z and Millennials.
5. Videos are not buzz but a boon.
Engaging and animated Videos explaining your fintech solution most simply- what else your website visitors could ask for?!
Here’s another study: Video marketers achieved a 54% increment in product awareness.
It can be a powerful marketing strategy to empower engagement and grow your target base. And on top of that, videos are imparting a crucial role in UX. Soothing visuals and immersing user experience are no longer optional, even at prominent fintech brands.
A perfect example would be Venmo in-app’s bit-size engaging video to make investments and money-related transactions a fun and less daunting experience for all users.
6. Omnipresence across different social channels
Leveraging optimal presence on different platforms can skyrocket brand awareness and build solid rapport against authority and reliability.
To maintain a constant flow of branding and tonality while conversing with your target group- You can take help from AI and Automations.
Yet another study states that 30% of large fintech are investing in AI, and It will grow at a 16.1% calculated annual growth rate from 2022 to 2028. AI delivers various fintech solutions, including chatbots, virtual assistants, and interfaces to engage with customers.
Thus, it prevents reinventing the wheel whenever you want to show your product on social platforms.
7. Leverage existing customers base
In 2020, fintech app marketers invested $3 billion in new customer acquisitions.
The problem is- most digital payment start-ups offer huge discounts, cash backs, etc., to acquire new customers. However, as soon as the offer expires or a competitor offers better deals, customers take no time to switch to another product and ditch yours.
So it’s better to use referral marketing through your loyal customers and prevent your leaking in your lead generation pipeline.
Referral marketing involves asking your existing clients to promote your services to their networks. Like Coinbase did, they offered a 10$ (defers on time to time basis and country too) reward when they successfully convert a client or referral initiates the transaction.
- Where’s the gap in digital marketing for fintech brands?
The major gaps are lacking fintech-related reliable content, and Fintech technology comes with a steep learning curve. The term “clarity” is still due in the fintech realm. Brands need to understand the importance of marketing and educating the audience about their product- cause an unaware mind never buys
- What are the benefits of digital marketing?
Benefits of digital marketing –
- Reliable authority with advanced brand awareness
- Helps with necessary data acquisition around the brand’s TA.
- Solid brand positioning motivates investors and LPs to invest in your startup and business.
- How much does FinTech marketing cost?
It depends on the number of services your organization requires. iHQ Studio is your co-founding extended team that performs digital marketing for one year for our portfolio companies at no extra cost.
How we can help!
Along with funding, which every VC does, we help early-revenue startups in the overall digital marketing.
Our CMO team closely works with the startup as a founding team so we can craft a best-in-class strategy for customer acquisition– brand story, designing, streamlined campaigns, and execution along with PR, Web, and SEO.
With iHQ studio, audience connection is a no-brainer!
Send us an email at firstname.lastname@example.org!
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