The fintech world is bombarded with new financial applications and platforms that promise to provide what thousands of other brands are already offering. Consumers now have tons of fintech marketing apps and products and are seemingly not interested in any new product or service until it really adds value and gives them an out-of-the-park experience.
Fintech marketing plays a key role here in communicating the brand values, offerings, features and mainly the lucrative benefits to consumers. After all, benefits and additional value is what traditional consumers seek and they look for ways to save their money and stress in managing their financial and other activities.
How Does Fintech Marketing Actually Make a Difference?
Fintech marketing is not operated on traditional practices. It used retention tactics, educational aspects and thought leadership to build trust among consumers and stand their brand as a trustful and authoritative figure in the industry.
Some of the ways fintech marketing helps businesses are:
1. Educate Customers: Fintech marketing is sometimes a sensitive topic and it focuses on promoting products and services that promise to manage and protect consumers finances.
Global fintech marketing emphasizes on educational aspects and tends to educate customers as top of the funnel strategy. Fintech is usually a technical world, consumers are not simply buying an ecommerce product, they are going to trust a product on which they can invest and manage their utility bills or insurance procedures.
2. Providing Current Fraud Updates: Digital marketing for fintech strives to provide customers with current updates and news regarding the financial world. Brands utilize various marketing channels such as social media and email, to alert customers about recent scams and how malicious actors can tamper or damage their financial wealth.
3. Build Trust: Fintech marketing hits the trust sentiments of customers who are already worn out and skeptical about safeguarding their products and services. Fintech marketing makes sure that customers are in full trust regarding the financial institution’s workings and operations.
Essential Strategies of Fintech Marketing
Fintech marketing strategy has been used by businesses to get in the minds of consumers and provide them with the most irresistible experience.
Educate Customers
Financial education is important in today’s period. Many brands don’t focus on educating prospects first, they are all about marketing and selling their services to customers that are already using the same fintech products. What brands seem ignorant to focus on is the education aspect, as the majority of consumers are not fully aware of how to better manage their finances.
When businesses educate customers to better manage their finances, save their costs and be confident in their financial security. It encourages users to not only use the tool but also refers the product to their friends, families and relatives.
Some of the ways to educate customers are:
Utilize video marketing. A visually designed and interactive video is much more powerful than long-written content. Fintech products are usually complicated and that’s where video makes it easy for brands to better communicate product use cases to the target audience.
Write helpful blogs. Try to cover the latest financial topics and convert them into helpful and informative guides.
Employ Gamification Techniques
Customer interaction has become widely popular in the consumer and B2B world. Gamification is a strategy that has worked wonders for users. Fintech’s complicated use cases have transformed into interactive gaming elements and prize point games that encourage customers to keep connected with the app and use it to unlock new rewards. Game features like puzzles, quizzes and interactive elements motivate users to complete tasks and get rewards in the end.
Some of the benefits of utilizing gamification strategies are:
Ensure regular interaction with the brand product. Daily rewards discounts on users’ actions like paying bills and investments make customers tied to the product’s presence.
Makes the brand the talk of the town and a favorable choice among customers. Regular rewards, interesting features, and humorous interactions make customers excited about the products.
Find Opportunities With Existing Customers
Even though the use of fintech apps has increased considerably more in the past, many users still don’t consume fintech services. The answer is simple: brands should focus more on exploring relations and opportunities with existing customers instead of targeting new customers. The ideal approach is to cross-sell or up-sell existing customers. Many of the times, customers have no clue on how to use a service and simply neglect using it in the future.
Closing Words
Ancillary financial service organizations together with technology companies must deploy fintech marketing approaches as their main method to boost customer enrollment while maximizing conversion achievements. Businesses along with startups must implement specific fintech marketing approaches that focus on advertising financial products through SEO to build stronger customer relationships.
Brand awareness entirety depends on content marketing and PPC and social media marketing because these tactics also create leads and maintain customer loyalty. A productive fintech growth method encompasses multiple elements such as compliance monitoring, blockchain applications, mobile banking system development, user experience optimization, analytical data analysis along with customization and automation features, AI-generated insights and performance measurement capabilities.
