5 (brilliant!) fintech marketing ideas to inspire you
Inspiration is all around us, and the fintech marketing world is on FIRE right now.
It doesn’t take a genius to see that we’ve got some really creative ideas flowing between Fintech startups and institutional giants alike. Everywhere you look, a new financial technology company springs up hitting the ground running.
So, we’re going through some of the best marketing ideas coming out of Fintech and exactly why they work. If you emulate any of these, be sure to get in touch and let us know your results!
Old School Brand Activations
Digital Conferences
Gated Content
Acquire media companies
Dedicated customer personas
Before we begin: these amazing resources were collated from members of a SUPER slack group for fintech marketers around the globe. Always on the lookout for new members so please request to join the group here.
Old School Brand Activations
When I was at university, I was hired by an alcohol brand to go to parties with their newly launched vodka and take photos of students with shots. It was a dream job! AND- the brand activation genuinely worked to exceed sales targets in my Uni town when the product was launched.
Old school brand activations in public areas are worthwhile and can even turn viral. Check out Nude’s current competition to win £10,000 towards a first-time house. They’re working with certified influencer, Howard Brown, to launch a human ATM and spread brand awareness.
Why does it work?
Brand activations create an emotional response, which is more likely to convert a new client. But, at the very least, your activation will build brand awareness by using human brand ambassadors to build connections with your prospects. This is what’s beneficial for Nude, as a very newly launched brand looking to acquire customers. Plus, it will get people talking- and create a buzz that’s capable of building both virality and referral traffic.
Digital Conferences
More traditional networking styles may now be outgrown, but people are still craving connection with like-minded industry contacts. The collaboration we used to see from in-person events is still required today, but must be adapted for digital means.
If you’re looking for inspiration, check out Pleo’s Digital Summit. The B2B spending management company is collaborating with leaders from multi-industry backgrounds. Their digital conference event, scheduled for December 9th, will offer thought leadership perspectives on sustainability, inclusion and international hiring, for example.
Why does it work?
Digital conferences are a great way to exceed customer expectations and connect like-minded employees who are looking to develop. It’s also cost-effective for the brand (no rooms to hire!) and is likely to be more accessible than an in-person event which is restricted by location. Of course, you’ll collect the information of attendees and likely follow up with a targeted email sequence in order to drive new prospects down the sales funnel.
Gated Content
This wouldn’t be a Search Cure round-up without the mention of content marketing. But today I want to focus on gated content: the idea that the content is so valuable that you must trade your personal information for it.
A good example of recent gated content is the Stormpay whitepaper. It explores how current Fintech’s are interacting with the lifestyle economy, alongside how to manage your customer expectations for hyper-personalization.
Why does it work?
Gated content like Stormpay’s whitepaper is successful because it is so targeted. Instead of collecting many leads at a low-conversion rate, the content is so niche that it doesn’t get much traffic. Its purpose is not to build brand awareness. Instead, those who find and opt-in to gated content are ‘ideal clients’, so the little traffic received should be easy to convert.
Acquire a media company
Did you know that companies like Stripe and JP Morgan are acquiring media companies with existing audiences? It enables Fintech’s to control the narrative and go direct to their ideal audience. Plus, you can forego spending on other channels (such as sponsored posts and brand partnerships) since all of your content is owned.
Why does it work?
Here is a great article to outline why media acquisition has been successful for companies like J P Morgan.
Media company acquisition has both decreased customer acquisition cost (CAC) and increased customer lifetime value (LTV). Furthermore, financial services companies are able to “own” their audiences, rather than renting- which means offering exclusive content that increases engagement (and spending). Media company acquisition is a (relatively) cheap way to acquire new prospects, and develop the spending habits of current customers.
Target specific customer personas
I’m sure you’ve heard by now that it’s important to talk to just one specific customer, rather than your entire audience as a whole? Wise (originally Transferwise) recently completed a study of its current customers in order to dive deep into their behaviors, and create both content and product features that are more tailored.
Why does it work?
Here is a pretty great article that goes into depth about why this brand persona technique has been so successful.
Transferwise analysed the identities, values, frustrations and behaviours of their customers in order to tailor their content specifically into what customers think and feel. Not only does this make their content more relatable, but it speaks to the problems and challenges of real-life humans. It also offers its product as the natural solution without having to force the idea.
For example, one customer was skeptical about the low currency conversion rates that some companies claim to have- and used comparison websites to check. To mitigate this, Transferwise built a presence on an independent review site, TripAdvisor, and created an affiliate and referral program for customers, since word-of-mouth is the strongest conversion tool.
If you feel like you’re flailing in the wind with Fintech marketing, we’re here to help. Contact us today for a consultation and let’s discuss how we can elevate your Fintech brand, grow your customer base and increase that revenue!