FinTech has caused a storm recently, with the emergence of various transformative trends, including the rise of cryptocurrencies such as Bitcoin, Litecoin and Ethereum (to name a few).
FinTech has the ability to change the way consumers deal with their finances, so it’s no surprise the industry is booming and disrupting the way businesses are interacting with traditional financial institutions.
We have taken a look at the top four things marketers need to do in order to drive FinTech products or services to market, allowing organisations to turn complete strangers into a loyal following.
Use Inbound Marketing
In the FinTech world, cold-marketing, without a specific audience in mind, is a thing of the past. To gain quantifiable benefits in Fintech marketing, businesses should target consumers who are already searching for a service or solution – this is known as inbound marketing. Creating content to address the problems and needs of your customers, who don’t necessarily know what they need yet, can lead to a higher conversion rate and following.
Targeting consumers through inbound marketing allows organisations to better understand consumer behaviours – in order to convert them into customers, investors and partners. This can be achieved through tactics such as bespoke messaging, which builds credibility and trust for your business.
Remember content is king
It is important to keep customers and businesses informed about changes within the fast-moving FinTech sector through regular, original content.
Not only does content provide guidance to prospective consumers, it also helps them to understand the current state of financial technology, including the all-important risks and rewards involved.
Content also drives the connection between the organisation and their audience. It helps to build trust and strong relationships, which in turn can lead to meaningful business results. Specifically, it can lead to new and increased traffic through the sharing of blogs, which will direct people to the website.
Once a consumer is on your site, high-quality content paired with an effective call to action can lead to increased conversion rates. Becoming a trusted source of information will pay dividends later on, so ensuring your FinTech organisation has relevant, informative content will prove to be powerful, with everyone being able to benefit.
Make SEO your best friend
A major way to attract consumers is through search engine optimisation (SEO) and it needs to be a core part of your marketing strategy. Making sure your organisation ranks highly on Google will help consumers find your business and see what you have to offer, ahead of competitors, which is increasingly important with so many FinTech startups popping up.
Keywords are an important tool to achieve a good SEO ranking and form the foundation of how content gets in front of the right people. In order to discover what keywords will work for your business, you should brainstorm a list of what your target audience might be searching for, including words related to how your FinTech product or service helps them. It also helps to look at what keywords your competitors are focusing on for their blog posts and web pages. Once you have decided on your keywords, you can implement them on your own site or pay per click campaign, if using this method of marketing.
A plan should be put in place to improve your business’ ranking – which could include content creation (remember content is king!) and a keyword plan for all pages of the website.
As we all know, technology is constantly improving, with an increasing number of consumers using devices such a Siri and Amazon’s Alexa to aid search. Ensuring your businesses includes conversational keyword phrases will be a key component in driving SEO ranking in 2018.
Embed a sharing economy into your strategy
FinTech marketers should also be aware of the benefits of a gig/sharing economy. This is where temporary and interim positions are common and in this case, refers to decentralised asset ownership.
With this type of ownership in mind, financing from traditional banks will no longer be the norm – instead, borrowers will turn to peer-to-peer platforms.
The reason this type of economy has been adopted and will continue to see growth is that it’s built on trust and transparency. FinTech marketers need to take note of this trend and apply it to their own strategy as well as research and development. Word of mouth marketing is powerful and plays an important role in the sharing economy, where peer reviews and recommendations from consumers are vital.
Embedding a sharing economy into your Fintech Marketing will allow for greater collaboration and increased opportunity to engage with different users, who in turn, will continue to push for greater efficiencies and innovation.
FinTech startups are booming and the scale of opportunity to succeed is huge. By using some of the above tips, you’ll be sure to gain a bigger slice of the market.
If you are looking for a role within the technology sector, please contact Jack on jberry@marketingmoves.com.
