Fintech and Financial Services Marketing - How to Upscale Your Brand
It's hard to launch a new Fintech today, and it is even harder to scale and grow after. Competition is brutal these days.
You are probably here because you're looking for solutions and answers to marketing questions. Or maybe inspiration on new approaches that will fuel your growth.
As an SEO agency, we recommend search engine optimisation as a marketing method to all our clients since it generates quality and organic leads as well as better visibility on SERPs. But there are several other strategies you could follow that will level up your brand image and upscale your business.
- UX improvements of your website
- investment in your social media presence
- personalised content and messaging
- localisation by targeting local markets first
Learn more on ways you can improve your Fintech and Financial services marketing strategies.
Improve your UX
User experience (UX) is all about creating a positive experience for the visitor to your website.
With a meaningful user experience, you are able to define the customer journey and guide the customer through the purchase funnel seamlessly. If the UX of your website is not easy to use, then the customer will find it hard to navigate the website and reach the solution - your service.
As a Fintech, it is important that you create a straightforward path for your customers to your services and products, and make their experience effortless. Most marketers neglect this part of a website structure and they tend to focus on attracting customers rather than guidance. But it is just as fundamental to encourage them to interact with your website and make a purchase.
Also, most marketers design the website so that it guides the customer to the solution straight away. But the process involves more research than that. You need to identify who is interacting with your brand and how, what their problem is, you need to strategise on a solution and the possible outcomes of it. Your UX should include all the above to create a meaningful experience for your customer.
- is my page mobile optimised?
- does it load quickly?
- is the bounce rate high?
- do people interact with my website?
- are my visitors having a smooth and positive experience on my website?
These are some questions that need answers when optimising the site architecture and wireframes of your website.
Invest in your social media presence
A lot of Fintechs and financial services businesses are scared of being bold on social media and instead opt for a cookie cutter approach. Their posts are 'safe' rather than unique and colourful.
Social media marketing is a great area to invest in your marketing strategy since 57% of the world's total population now uses social media channels. And if you're doing social media marketing right, people will engage with your brand and notice it, which is the ultimate goal for any Fintech and Financial business.
For example, Lemonade - an Insurtech - utilises Instagram not to promote their brand online and get more customers but to remain at the forefront of people's mind on that platform through engagement with their content. Their content does not align with their branding as it is mainly artistic images and videos, but it does the job in attracting an audience and increasing engagement on their platforms.
Social media approaches to take when you're a business in the financial world are:
- find a topic that you would like to talk about and stick to it - the content doesn't have to be about finance or related to your product. The goal should be engagement rather than just exposure; Lemonade for example uploads art that masters that.
- make your posts more personal. A lot of marketers forget that businesses should act like people to become relevant and relatable. Be more human.
- when deciding to post educational content on your social media, make sure it's followed by strong visuals. Finance tends to be an intimidating subject for many - or something they'd rather avoid - but you can make it fun and exciting by accompanying the information with an image or video that's visually appealing.
Personalisation is key for most strategies
For personalisation to be spot on, you should know your customer very well first. Data on demographics, interests and behaviour will help you understand who's your target audience and how to attract them with recommendations relevant to them.
It is essential in many aspects of marketing such as:
- in your content
- in your ads
- in your email marketing
- in your social media.
91% of consumers have said that they're more likely to shop from a brand that offers recommendations based on their interests, while also 90% of marketers have seen a positive ROI with this approach.
Personalisation brings your customer closer to you. You are not an impersonal and hard to reach company but you sound familiar, friendly and approachable. This method has many benefits for businesses in Finance - since Finance is already an intimidating subject - such as creating a human experience for the customer and a less sales-y approach.
Building a Fintech brand based on local insights is a must, especially if you aspire to grow globally.
This is because when you target the consumers in local areas and specific cities that use your services, you are giving value to that specific segment that will help you grow. As Patrick Stal says 'global brands come to life locally'. Even global brands have a base somewhere, and they collect data from local people and local markets to get an idea of what these customers' interests are and provide them with a solution to their needs. Once businesses grow in local areas in different parts of the world, they start growing globally too.
Conducting marketing initiatives locally is about being human first and communicating with your customers on a personal level, and from that growing your brand. Think about it: a global brand relies on particular local segments instead of a worldwide, unified one.
Think locally and then globally for your Fintech.
Interested in learning more on strategy?
Marketing is a vast sector for any business with multiple approaches tailored to each business. You can read and learn more about other Fintech and Financial services marketing strategies here.