Add your business to ZipLeaf for free!
 United States Business Directory
5 Essential FinTech Marketing Strategy Tips and Why They Work

By Callbox

5 Essential FinTech Marketing Strategy Tips and Why They Work

08/06/2018 It’s official: FinTech has reached early mass adoption. Consumers are now making check deposits and rebalancing their portfolio on their morning commute, and businesses can now compare financing terms and secure a loan in less than 24 hours without having to visit a bank. It’s certainly a great time to be a FinTech startup—if you have the right marketing strategy in place, that is.


There’s mounting evidence that shows FinTech is steadily edging its way into the mainstream. The EY FinTech Adoption Index 2017 reports an adoption rate of 33% for FinTech products—a sharp increase from 14.3% in 2015.

Gartner’s Hype Cycle for Digital Banking Transformation 2017 agrees with this finding. Most segments in FinTech have already made it past the hype phase (e.g., robo-advisor 2.0 and social messaging app wallets), with some technologies now entering mainstream adoption (e.g., wearable banking apps and mobile wireless payments).
Still, in a nascent vertical like FinTech, companies face some very unique set of challenges when it comes to marketing their newfangled products. The main obstacle is getting target users to trust what could potentially be unfamiliar tools to help them handle their financial transactions. Even if FinTech products’ main selling point is to simplify and streamline finance, many of the technologies that power FinTech products can appear complex and opaque to most users. Privacy and security concerns, as well as vague terms on fees, charges, and rates, can put off potential customers.
Another likely source of FinTech marketing friction is that people and businesses tend to favor the status quo over new ways of doing things. FinTech products are, by their nature, innovative and ground-breaking. This can mean that users will need to change how they carry out specific financial tasks in order to start using a FinTech product. In some cases, FinTech adoption can require a drastic shift in behavior for consumers and a substantial process overhaul for businesses, adding to switching costs and inertia.
To clear these hurdles, FinTech startups need to get a bit more innovative with marketing. It’s not enough to highlight pains and gains in the value proposition. Both B2C and B2B FinTech companies have to build a reputation as financial experts looking after their users’ interests. This is going to take some major rethink of conventional marketing practices.
That’s why we’ve hand-picked some tried-and-tested FinTech marketing strategy tips to get you started in this direction:


#1. Pivot toward a lean marketing mindset

Practically all tech startups are intimately familiar with how the lean product design model works. A company identifies and develops its minimum viable product (MVP) and brings it to market as quickly as possible. This accelerates gathering user feedback that guides future versions of the product.

The lean model is built on a test-driven approach at making incremental improvements. The same hypothesis-driven, iterative method can and should be applied to marketing. Lean marketers launch small test campaigns and use the results to tweak individual components. The key idea is to “fail early and fail often” so that you’ll improve your marketing setup with every new trial. Learn from these 5 Lessons From Epic Tech Flops That Will Make You Better At B2B Sales.


#2. Embed the sharing economy into marketing campaignsa

PWC predicts that the sharing or “gig” economy, which took root in ride-hailing and room accommodations, will become embedded in every part of the financial system by 2020. For example, borrowers will no longer need traditional banks to secure financing. They’ll instead turn to peer-to-peer platforms that directly match sources and users of loanable funds.
A key reason why the sharing economy has grown (and will continue to grow) to such epic proportions is that it’s built on trust and transparency. That’s why FinTech marketers need to apply these lessons into their strategies. In the gig economy, word-of-mouth drives people’s decisions. This means marketers must rely on peer reviews and recommendations above everything else. Here’s how to build a tremendous credibility and make clients refer you.

The sharing economy brings another important benefit to FinTech marketers: it allows better collaboration. Marketers can now count on peer-to-peer platforms to tap into the right marketing expertise for each campaign. These platforms typically run on algorithms that ensure, for instance, that a campaign for a payment gateway targeting hotels and restaurants is matched with freelancers who specialize in exactly that segment.


#3. Understand that “too big to fail” doesn’t apply in FinTech marketing

There’s no question that FinTech is upending traditional banking and financial services, especially in the lending and payments space. But FinTech startups aren’t just displacing banks at their core business. They’re also beating established companies at digital marketing.


A poll by the Carlisle & Gallagher Consulting Group shows that 87% of consumers think banks are “annoying, boring, or unhelpful” on social media.


That’s despite the massive marketing resources these institutions have at their disposal. This presents an opportunity for nimble startups who are better able to engage customers online at little or no cost. It’s not the dollars in your marketing budget that counts; it’s how you make each dollar count.


#4. Master and deliver CPC

No, this isn’t cost-per-click. Here, CPC stands for customized, personalized content. Educating potential users is an effective approach to build your reputation as an expert, and doing this through relevant and actionable content is one way to show you’re looking after your customers’ interests.


But providing CPC isn’t only good for branding. It can also translate into higher revenues.

So, whether you’re in B2C or B2B (or both), it pays to have a robust content marketing program in place. Be sure that you’ve identified your target audience segments and mapped out your sales funnel. Knowing what content appeals to different segments and what topics resonate with audiences at various points in the buying cycle are the building blocks of a workable content marketing plan. You may want to check our guides below:

  • 12 Tools to Hack Your Content Creation Workflow [Plus Free Content Calendar] [https://bit.ly/2xIHUZl]
  • The Five Elements of Quality Content (According to an End-user) [https://bit.ly/2lRa8uy]
  • You Can’t Hit Two Birds with One Stone: Creating Content for Demand Gen & Lead Gen [https://bit.ly/2lR4zw9]
  • How to Reach Influencers and Grow Your Content Audience [VIDEO] [https://bit.ly/2skT7Mq]

#5. Play by the rules, but don’t be driven solely by compliance
TechCrunch reports that uncertainty in the U.S. regulatory environment is threatening the rise of FinTech. Not only do FinTech startups have to avoid running afoul of evolving federal regulations, they also need to navigate a maze of state-level laws. As a result, the U.S. has fallen behind Asia in terms of regional investments in FinTech.
It’s only natural for FinTech companies to make sure their marketing strategy doesn’t break any applicable laws. However, compliance often comes at the cost of compelling marketing messages. FinTech marketers sometimes opt for watered-down versions of their value propositions just to stay on the right side of the Law. But, regulation shouldn’t erode the quality of your marketing materials. There’s always a sweet spot between offering value and staying compliant.

The Takeaway
FinTech startups are starting to reap the benefits of disrupting an age-old industry. With the right marketing strategy in place, an agile FinTech company can easily reach double-digit growth and carve a decent market share. Use these five crucial FinTech marketing strategy tips to help you achieve these goals.


This article originally published at The Savvy Maketer [https://bit.ly/2xjRt3m] .
Grab a copy of our FREE EBOOK, Targeted B2B Marketing: Guide, Checklists, and Worksheets [https://bit.ly/2HKegs3] ! A comprehensive guide on targeted marketing to help organizations get in front of the right people at the right time through the right channels with the right message to influence a purchase.

Download Targeted B2B Marketing Guide, Checklists and Worksheets [Free eBook] CTA


About This Author

Callbox

Callbox

If your company wants to grow, Callbox B2B lead generation and appointment setting solutions is right for you.Founded in 2004, Callbox is the largest provider of Multi-Touch Multi-Channel Marketing solutions for businesses and organizations worldwide. Its core competencies include Lead Generation, A…

Read More »

More Articles From This Author

5 Essential FinTech Marketing Strategy Tips and Why They Work

5 Essential FinTech Marketing Strategy Tips and Why They Work

07/25/2019 It’s official: FinTech has reached early mass adoption. Consumers are now making check deposits and rebalancing their portfolio on their morning commute, and businesses can now compare financing terms and secure a loan in less than 24 hours without having to visit a bank. It’s certainly... Read More »

4 Solid B2B Email Campaign Ideas to Market Cloud Solutions

4 Solid B2B Email Campaign Ideas to Market Cloud Solutions

07/19/2019 Email is still pretty powerful and it is a way of engaging your following whilst utilizing only a fairly small number of resources. In this short article, we will be exploring the different types of email marketing campaign examples for cloud solutions providers. Marketing to Both Current and... Read More »

5 Rubbish Reasons Not to Invest in Lead Generation

5 Rubbish Reasons Not to Invest in Lead Generation

07/17/2019 The internet is filled with thousands of new content popping up each second. One of the most popular types of articles that crowd over our social media timelines are the ones that present you with a list of reasons why you should do this or why you should use a certain product. There are l... Read More »

How to Generate Leads Faster with this Proven Outbound Workflow

How to Generate Leads Faster with this Proven Outbound Workflow

06/17/2019 When I googled “how to generate leads” at time of writing, it returned around 560 million search results.That might sound like a lot, and it actually is. But a quick glance at the first few pages revealed that not much has been written about end-to-end, outbound lead generation strategies that u... Read More »

Everything You Need to Ask When Choosing a Lead Generation Company

Everything You Need to Ask When Choosing a Lead Generation Company

06/10/2019 So you’ve decided to outsource lead generation, and you’re about to choose a marketing partner. This is probably one of the most important choices you’ll ever make as a marketer. So, how can you be sure you pick the right lead generation company?The secret is knowing the right question... Read More »

7 Best Picks from Callbox’s Library for Your 2019 Summer Reading List

7 Best Picks from Callbox’s Library for Your 2019 Summer Reading List

05/14/2019 I can’t wait to pick up David Kushner’s newest book The Players Ball. It tells the story of the bitter rivalry between two of the leading figures during the worldwide web’s early days, which eventually shaped the digital world as we know it today.More interestingly, though, the book al... Read More »

Marketing Renaissance: 6 (Old-School) B2B Trends Making a Comeback

Marketing Renaissance: 6 (Old-School) B2B Trends Making a Comeback

04/29/2019 Spring has sprung. You can feel it in the air. It’s the season of rebirth and renewal. Out with old and in with the new, right?Well, sometimes, it’s actually the other way around. Some of the latest trends in B2B marketing today have actually been in use since anyone can remember, but had... Read More »

[Free Download] ABM Telemarketing Scripts for Cold Calling Key Software Personas

[Free Download] ABM Telemarketing Scripts for Cold Calling Key Software Personas

04/05/2019 If there’s one channel that checks all the boxes in ABM outreach, it’s targeted phone calls. Outbound touches drive ABM results in five crucial areas:Gathering insights that help tailor your approachBuilding and growing meaningful relationships with each stakeholderDelivering relevant content an... Read More »

In a Sea of Sameness, Here’s How IT Staffing Firms Can Stand Out

In a Sea of Sameness, Here’s How IT Staffing Firms Can Stand Out

02/27/2019 In my experience working with different IT staffing companies over the years, I’ve noticed an almost universal theme: they tend to rely on the same pitch. To be clear, I’m not saying IT staffing firms have nothing unique to offer. It’s just that finding ways to communicate a compelling UVP... Read More »

Why a DIY Lead Generation Can Kill Your Business

Why a DIY Lead Generation Can Kill Your Business

02/20/2019 You can get almost any kind of information on the Internet — from the most useless trivia to building a house. For this reason, a lot of people embark on DIY projects although the results are not always positive. Companies, too, are jumping into the DIY route especially when it comes to le... Read More »

15 Best-Kept B2B Email Secrets to Win Prospects’ Hearts [INFOGRAPHIC]

15 Best-Kept B2B Email Secrets to Win Prospects’ Hearts [INFOGRAPHIC]

02/14/2019 Writing sales emils is probably not your idea of spending Valentine’s Day, but it doesn’t mean you can’t get into the loving spirit while preparing your drafts and templates. The next email you send out just might be what you need to move the sales process forward – if you put your heart int... Read More »

Multi-channel Customer Experience and How it Impacts your Lead Gen Strategy

Multi-channel Customer Experience and How it Impacts your Lead Gen Strategy

02/07/2019 A sales campaign involves hitting different factors on different fronts. However, we have to realize that in this day and age, the digital front is one area that you really have to pay attention to.There are a lot of things that you can deploy in order to boost your multi-channel customer... Read More »

SaaS Market Trends for 2019 and How to Align Your Growth Strategy

SaaS Market Trends for 2019 and How to Align Your Growth Strategy

09/27/2018 The SaaS market is a highly competitive one. The question is no longer whether or not businesses are on-board SaaS to cut storage costs to significant values.Intuit data reveals 85% of small business owners plan to invest more in SaaS solutions that by 2020, SaaS will be the most disruptive technolo... Read More »

10 Lead Magnet Ideas to Grow Your Sales Pipeline

10 Lead Magnet Ideas to Grow Your Sales Pipeline

09/18/2018 Lead Magnets are an excellent way to grow your email list without buying one. Besides, it’s unethical to buy or rent an email list and spam people. Don’t give in to the pressure of stealing email addresses to support your sales team.In this article, we discuss compelling lead magnet ideas you ca... Read More »

Industry Insights: The 5 Types of Buyers You Meet in Cloud Selling

Industry Insights: The 5 Types of Buyers You Meet in Cloud Selling

09/11/2018 The earliest known use of the term ‘Cloud’ to refer to off-premise computing and storage took place in a 1996 Compaq business plan. The document pretty much foresaw many of the things that would eventually make up early iterations of the Cloud.It accurately predicted how enterprise software woul... Read More »

Increase your Software Sales in 5 Easy Steps

Increase your Software Sales in 5 Easy Steps

09/06/2018 You can bet your bottom dollar that software is still an important industry that’s driving innovations the world over. It’s the information age for crying out loud, and we have to recognize the fact that software will bring about major disruptions across other major industries, particularly fina... Read More »

5 Strong CTA Examples (with Solid CTRs and Conversions) to Learn From

5 Strong CTA Examples (with Solid CTRs and Conversions) to Learn From

08/13/2018 Conversion rates occupy a vital spot in any marketing dashboard, but they’re by no means the end-all and be-all of marketing metrics. Every conversion is the end result of a series of actions that prospects need to complete.It’s these tiny, intermediate steps that ultimately determine whether so... Read More »

How to Make a Compelling Presentation For Your Software Product

How to Make a Compelling Presentation For Your Software Product

05/14/2018 Of all IT products, software is often considered to be a hard sell for a lot of startups. It all boils down to how they present their offers to interested B2B buyers.Making a good impression should always be the primary objective for software companies. If anything, going the right way in terms of m... Read More »

Understanding Multi-channel, Cross-channel and Omnichannel Marketing

Understanding Multi-channel, Cross-channel and Omnichannel Marketing

03/27/2018 Marketing is an essential element in business. It is also quite tricky because there’s not a one-size-fits-all formula. What more, it is quickly evolving, and the traditional approach is losing its effectiveness. Despite all these, three strategies stand out: omnichannel, multi-channel, and cross-... Read More »

The B2B Buying Process Has Changed: Here’s How Not to Get Left Behind

The B2B Buying Process Has Changed: Here’s How Not to Get Left Behind

01/26/2018 There’s no denying it now. We’re not in Kansas anymore.The days when marketers took charge of the buyer’s purchase journey are long gone. Buyers now arrive at a purchase decision largely out of their own accord, with little to no direct involvement from marketing teams or sales reps. Buyers re... Read More »

4 Signs That You Badly Need a Lead Generation Team

4 Signs That You Badly Need a Lead Generation Team

10/25/2016 Lead generation is simple. Just find leads and turn them into sales. Now, if the term “easier said than done” has a poster boy, it’s good old lead generation, hands down.Lead generation may be simple, but surely, it isn’t easy. Especially if only one or two people in an organization are task... Read More »