Digital marketing is a powerful tool to promote any company, especially for brands dealing with cutting-edge services like financial technologies. Brand awareness, lead generation and increased revenue are only three benefits of digital marketing for fintech companies. In this article, we provide three ways digital marketing can benefit a fintech company and five types of digital marketing for fintech companies.
Marketing Fintech is unique
Marketing fintech business has a unique aspect in the way you take your business to market. Although the channels, and overarching strategies may resemble the normal marketing structures it is important to note that financial products are unique and when those products are laced with technology, customers need to be approached carefully with well-articulated messaging,
Fintech marketing strongly focuses on trust and security, highlighting the unique benefits of financial technology products and targeting tech-savvy and financially knowledgeable consumers interested in innovative financial solutions. Additionally, fintech must also comply with regulatory requirements, such as data privacy laws, when marketing its products.
Fintech businesses can establish trust with their customers by taking several steps. Firstly, customers can clearly understand what they are signing up for by providing transparent information about their products and services. Secondly, securing customer data is critical in building trust, and fintech should invest in robust security measures to protect this information. Thirdly, implementing strong security measures for online transactions helps give customers peace of mind when using their services. Fourthly, offering excellent customer support demonstrates a commitment to serving their customers, which can foster trust. Fifthly, building partnerships with established financial institutions can provide an added level of credibility. Lastly, obtaining relevant licenses and certifications and regularly communicating with customers, addressing their concerns, can further solidify trust.
Finding the right audience
Fintech businesses can focus their products on tech-savvy audiences by utilising technology to make their offerings accessible, user-friendly and convenient. By adopting a mobile-first approach, fintech can ensure that its products are easily accessible on the go. Using AI, machine learning, and other technological advancements can also enhance the customer experience, making it more personalized and efficient. FinTech can leverage social media and influencer marketing to reach tech-savvy audiences and build brand awareness. Additionally, offering real-time updates and secure online transactions can appeal to tech-savvy consumers who value speed and convenience. By constantly researching and adapting to new technologies, fintech can stay ahead of the curve and focus strongly on its tech-savvy target market.
Three ways digital marketing can benefit a fintech company
- More cost-effective
Fintech startup companies don’t always have deep budgets when kicking things off – especially not for things like marketing. Digital marketing allows financial technology startups to reach a large audience at a relatively low cost compared to other marketing methods. This can be especially beneficial for companies where starting budgets are limited.
- More targeted advertising
When it comes to executing effective advertising, targeting is very important – especially when a fintech is trying to get the most out of their marketing budgets. Digital marketing tools, such as social media and search engine advertising, enable financial technology startups to target specific demographics and geographic regions. This can greatly increase the chances of reaching the right audience from the start.
- More measurable results
Marketing is an evolving field, and the most successful fintech startups are constantly improving their campaigns. Digital marketing provides financial technology startups with the ability to track and measure the success of their campaigns, which allows for better decision-making when it comes to allocating marketing resources. This can also help startups identify areas where they need to improve their marketing efforts.
Types of digital marketing for fintech companies
- Search Engine Optimisation (SEO)
Optimizing a financial technology startup’s website for search engines like Google, Bing and Yahoo (through Search Engine Optimisation) can help increase the website’s visibility on search engine results pages (SERPs), which can lead to more website traffic and more potential customers.
- Social Media Marketing
Fintech startup companies that leverage the marketing and advertising power of social media platforms like Facebook, Twitter, LinkedIn, and Instagram through Social Media Marketing can connect with their potential customers and effectively build a growing community around their fintech brand.
- Content Marketing
Creating valuable and informative marketing content like blog posts, engaging videos, and visually-pleasing infographics can help financial technology startups establish themselves as experts or thought leaders in their field and attract more visitors to their websites.
- Email Marketing
Email marketing isn’t dead – no matter what people tell you. Sending targeted and personalized emails to potential customers can help financial technology startups build relationships and generate leads. Leveraging email signature marketing is another email marketing trend growing in popularity among fintech startup companies.
- Influencer Marketing
Influencers are trusted, authoritative, and loved by their networks on the social media platforms they create content on. Partnering with influencers in the financial technology industry can help fintech startups gain credibility and reach a larger audience.