6 marketing trends in the fintech industry [SlideShare]
Fintech is one of those industries where the customer’s trust and your credibility are extremely important. This should be an obvious fact, considering you need to keep their data safe. You can build up to this position using marketing tools and tricks.
Sure, it sounds great, but how?
First, you need to know that marketing is time-consuming and requires patience in order to build a strong brand. But it’s worth every effort. It can also be a great experience, if you know the right marketing trends and do it in a savvy way.
So, what do you do first?
Educate! That’s one of the first things that comes to our mind. Both online business owners, and individuals buying online, want to know what the processing and authorising processes look like. People need to understand what alternative payments methods there are before they start using them. Give them the answers in a friendly way, there’s no need to copy Wikipedia. Show your knowledge, and build your position as an expert.
Too long to read? View the SlideShare presentation
Education is important, but there are several other important marketing and growth hacking methods you need to know in order to suit your business’ needs.
You surely want your business to grow, so the sooner you start using these in your company, the better!
1. Attend FinTech Events
You’re running an online business, so it’s natural to be visible on the internet, but your offline brand image matters too. There are more and more FinTech events popping up, and you definitely should attend them. Take your calendar out and start preparing for them now to maximise your ROI.
OK, but how?
Well first you’re going to have to do some research. Check out the event websites to see a list of speakers and attendees. Find out who you can talk with, and reach out to those people before the event (eg. on LinkedIn) so that you can try and set up meetings with them. You could also connect with them on Twitter, using a special hashtag, or by tagging them in the conversations.
But then what?
Once you have a list of events you want to take part in, it’s time to set clear goals you to achieve during the networking event. Or maybe it is time to seek out a speaking opportunity? Speaking at events helps to build your credibility, and position in your industry. Your presentation can also be used after the event, to promote your brand. You can record it, and post it on social media, write a blog post (or guest post), or perhaps even live tweet it in real time.
Even if you handed out some business cards, don’t wait for your newly-made contacts connect you first. Follow-up after the event and engage with them.
2. The Power of Social Media
When you hear about social media, you probably automatically think of lifestyle, clothing or “creative-oriented” brands. Think there is no space for FinTech in social media? You’re wrong.
Social media is a great way to build brand awareness, you just need to choose the right channels for your company. It can be LinkedIn, Twitter, or even Facebook or Instagram. Find out where your prospective customers are and use your marketing power there!
Match your content style with each social media channel, and start to speak with your prospective customers. This is a great opportunity to build trust and credibility, especially if you answer their questions and doubts in a quick and friendly way. Social media also helps buyers to better know your business and make appropriate choices.
3. Highly Customised Content
Content marketing is extremely helpful, especially when your product is in the growth stage. Not only does it generate buzz around your product, but it also attracts, engages and educates customers. And, of course, it has huge SEO potential.
So, if you think seriously about growing your business, quality content needs to be placed in your marketing strategy. Show your clients the benefits and value connected to using your product or service. Focus on customised content, and answering your customers’ needs. The content you provide can have a great impact on your company’s awareness.
Use the right keywords in order to reach your target audience. Look at your competitors when doing your research, and find out what keywords they are using. It doesn’t mean all of them are appropriate for your company, but it helps you to find relevant keywords and topics to focus on with your online channels.
Definitely try using visual content, such as video. This has become one of the most powerful marketing tools. Today you see moving images almost everywhere on the internet: on websites, social media channels and display ads. Video can be entertaining and engaging, as well as educating. You can tell a key story, or show the message in less than a minute. Show your product in a friendly way, and highlight the benefits of using it.
It’s great to run the company’s blog and social media profiles, but it’s also important to focus your marketing effort on setting up landing pages and PPC campaigns. With relevant keywords and optimized campaigns, you can easily find out what works best for you!
4. Millennial-Oriented Strategy
It obviously depends on what your target audience is, but if you think about providing mobile solutions (of course you are, aren’t you?), you should not ignore millennials. Their generation is definitely an active user of mobile applications, including the payment and money transfer ones.
84% of millennials own smartphones, and 78% of them spend more than two hours per day using smart devices. Still, have doubts? The payment and transfer application markets are fuelled by millennials, so it’s hard to ignore them. So… what’s your next step? Keep calm and be (h)appy!
5. Long-Term Relationship with Customers
Maintaining relationships should have an important place in your marketing strategy. It’s about building a strong sense of loyalty, and long-term customer acquisition. This is done by developing an emotional connection, so do your best to keep your customers engaged. Establishing a friendly connection with customers gives you the strongest position on the market, or even word-of-mouth promotions, which can generate leads. The more they love your brand, the more likely it is that you will grow your position.
As you can see it is not only about focusing on increasing individual sales, but rather is mainly about convincing customers to come back to your company in the future.
So, what you can do besides talking to them on social media? Use technology to watch the data, track customers’ behaviour, and analyse as much information about them as possible. It will help you to offer more personalised and customer-centric solutions.
Transparency is one of the best ways to build trust, and it plays an important role in the FinTech industry. Make it easy to get information about your brand, product, or service and show that you have nothing to hide. It tells customers that you’re authentic and can help you to earn their trust.
Nowadays customers can find almost any kind of information on the internet, so brands that are transparent are in a winning position. Be honest, and be sure that everything you share with customers is authentic. Find out what your audience’s needs are and give them as many details and information as they want and need. However, you should certainly be comfortable with what you are sharing.
Ready, steady, go!
Now, it’s your turn! Speak to your customer’s needs. It’s important to know your target audience, as well as their goals and objectives. That’s the best way to save money and use marketing right. You should also find out which channels are used by your potential customers and communicate with them there.
What others are saying about you is so important, so you need to be visible in quality media outlets. This helps you build exposure and higher ranking search results. Use the marketing trends and growth hacks you learned today to take your company to the highest level. Good luck!
Latest posts by Lucas Dominic (see all)
- Face the biggest startup challenges with the right payment solution - October 10, 2016
- What Does eCommerce Mean? - August 31, 2016
- What is a Bank Trust Account? - August 10, 2016