Fintech is among the fastest-growing markets and it’s expected to reach $300 billion by 2023. That would be verging on a 100 percent increase in just four years.
The growth is a result of both established and startup finance businesses jumping on the bandwagon and becoming part of a thriving industry. Some of these firms will establish their own incubators, while others will team up with startups.
Whatever the case may be, the industry is growing a more competitive edge. Due to this, it’s important that Fintech companies learn how to operate in a saturated market and know how to approach marketing in order to achieve success. If you’re a Fintech company, read on for three fintech marketing tips to help you beat out the competition.
Give Gamification a Try
Quality customer service is no longer enough. You need to find another way to communicate with your market. One great strategy for this is gamification. This strategy involves incorporating game-style elements into your marketing. Examples include but are not limited to utilizing puzzles and quizzes.
Gamification usually takes complex information and makes it interactive, interesting, and fun. Companies also reap the benefits of increased brand awareness and higher engagement statistics.
Use Influencers and Affiliates
Affiliates and social influencers have a fanbase in place that values their opinion. Fintech companies need this when promoting their products and services.
Many companies, however, don’t know the power that affiliates and influencers can provide to their marketing campaign. Some companies alternatively may not wish to invest the effort into finding high-quality third-party marketers and influencers.
With a small amount of incentive, however, these individuals can easily and quickly provide you with access to a larger market, help you gain trust, and give you those conversions with consumers that you’re looking for.
Don’t shy away from micro-influencers either – those with a smaller following. Quality is better than quantity most of the time.
Content Remains King
Whether it’s a Facebook post, Instagram story, or a how-to guide in the form of a blog post, there must be value to the content. Valuable content is huge in digital marketing, especially with regards to finch marketing.
For example, millennials tend to be confused when it comes to finances when compared to most other age groups. Most financial companies, however, ignore the current generation, leaving them searching for answers.
With a millennial audience, creating informative and valuable content and ensuring that it’s accessible and appealing is key to giving a fintech company a chance at success.
By building a reputation through relevant, informative, and useful content – whether it’s blog posts, articles, ebooks, videos, quizzes, and/or webinars – a finch company can establish itself as an expert and leader in the field, gaining the confidence and trust of their customers, generating more leads, and boosting their bottom line.
Once a Fintech company has succeeded in reaching their target market, they then need to build trust, educate consumers, and grow their business. The above strategies are just some of the ways to help you and your company achieve this.