Fintech And Their Marketing Strategy: A Detailed Guide

Fintech is a combination of the terms “finance” and “technology” and refers to businesses that use a mix of both to automate or enhance financial services. Financial service providers like EasyPaisa, Sada Pay and such integrate technologies with conventional finance procedures to create faster, safer, efficient, and more inclusive solutions for their people. This sector is one of the fastest-growing industries in the world, with innovations being introduced in almost all areas of finance including credit sharing and sourcing, investment management, stock trading, cryptocurrency, and you can click here more options.

One of the driving factors behind fintech’s success is the readiness of traditional banks and financial service providers to adopt technology that makes their services more accessible in the general population. This helps them stay relevant while moving their company forward within a rapidly growing population, especially in countries like Pakistan. That and the onset of COVID and the need for remote financial operations has further enhanced the importance of this sector.

While Pakistan still has a long way to go to make its mark as a leading fintech revolutionist, we’re on our way to creating services that have brought significant growth in our financial market. But while innovation in the fintech sector is growing, it’s equally important to market these services so that people can understand the services better and know their advantages in order to adopt them.

So without further ado, here are some ways fintech brands can promote their brand among their audience.

Fintech marketing

The thing about fintech marketing is that you cannot just sell all the time. Fintech involves technology, which isn’t everyone’s cup of tea. To understand fintech, it’s important to know what exactly the service entails and how it can be used.

So what’s the best way to create awareness while also generating leads and adaptation of your services? The answer is inbound marketing.

Inbound marketing

Inbound marketing is a technique marketers use to attract customers to their brand. This strategy works for fintech companies because it’s important to educate and attract their customers first before converting them into users. But how can they use inbound marketing as a successful marketing strategy? Through a funnel approach.

The first step of the funnel should be awareness, where they can educate people about the brand and its services. Offering a mobile financial solution? Educate your customers to develop an understanding of your product so that they know exactly which problem of their it solves.

The second step should be engagement. Once your customers are aware of your product and what it offers, they’ll then ask questions about the brand – indicating their interest. Engagement is a very important part of every marketing strategy and its importance increases when the product in question is a high commitment – that most financial services are.

The third and final step is conversion. Educating and engaging customers is important, but conversion is crucial to meet the bottom line of your business. Setting up lead generation systems and creating easy sign-up solutions is the key to convert customers.

That being said, what are the ways this funnel can be optimized? And what type of creatives or campaigns can help fintech companies achieve their goals? Let’s discuss those further…

Go Mobile

Fintech is all about simplifying financial solutions with the help of technology. So what’s simpler than being able to manage your finances through an app on your phone, on the go? But to create adaptability of such activities, it is important to first market your solutions through the very medium you want your app to be used on – mobile. After all, mobile has taken over desktops or other internet browsing mediums, and it should be your focus in marketing your product as well.

Be Social & Vocal

Social media is the way to go – especially if you want to educate your people and create engagement. But which social channel you use is the main question. Facebook has good usage across the globe with 25 to 35 being the leading age group on the platform. So it can be a suitable platform if your app is for a young-adult audience.

But if you are just starting and want to create a serious following for your brand, you can always choose LinkedIn.

The platform is a leading B2B channel, but that doesn’t mean it doesn’t have a younger audience usage. You can start by creating long-form content on the platform and generate awareness by redirecting traffic to a landing page on your website. Then you can use that landing page to retarget the same audience or their lookalikes on Facebook and Instagram.

Create Long-form content

Long-form content refers to brief summaries or tutorials that can be put up on social media to generate awareness or conversation about a brand. This type of content has been gaining popularity on platforms like Instagram and LinkedIn, and you can use this strategy to develop an understanding of your brand. Long-form content is also a great way to create cross-questioning opportunities, achieving the engagement objective I mentioned above.

Blogging is also a strategy that most brands adopt, but people need to be fully committed to read a 500 to 800-word blog. Long-form content doesn’t require that much time or effort, and doesn’t even require people to leave the platform they’re on. This doesn’t mean you shouldn’t go for blogs, but you can always repurpose them to create content on social channels.

Video content

Video is the almost unrivaled king of content nowadays. Video strategies enable you to tell stories, create tutorials, and even showcase success, growth, or testimonials that can in turn develop trust in your brand. EasyPaisa has created some of the most engaging and creative video marketing strategies, followed by brands like MCB Arif Habib’s iSave and JazzCash.

Don’t forget design

The visual factor on social media is key to a brand’s success. After all, you need your content to be attention-grabbing and scroll-stopping. No one will stop scrolling through their newsfeed just because of your content – in most cases, that’s the second thing that people notice. The primary is your choice of post or video design that can grab attention, and your content can hit the final nail with a catchy headline. Designs can be a way of word-of-mouth marketing or even lead people to follow your brand just to follow your visual creativity. So don’t forget to add a strong design factor in your marketing communication, it can lead to a much faster growth rate than if you don’t use it to your advantage.

 

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Be Human

Is taking a human approach overrated? Absolutely not. Humans connect to humans; they resonate with the stories being told by people like them – be it business owners, management teams, hustlers, influencers – anyone. Stories are a great form of content that no fintech startup should miss out on because, for heavily technical industries, stories and human faces can create relatability. Your human approach can actually let people connect with you. It turns your brand’s tone from corporate to creative, and that encourages followership.

So don’t hesitate to show your leadership, or to appreciate your employees on social media. Create a face for your brand who holds an influential position in the market and in your company, and use their brand to showcase yours. This creates credibility, trust, and even develops a fondness for your brand in the market due to the honesty you’re showcasing.

PR Campaigns

PR is a great way to generate high reach and following. You can use your public relations strategy to create awareness for your brand in the following ways:

• Product placements: Product placements in entertainment mediums like vlogs and such is a very natural yet effective way to generate awareness.
• Get Reviews: Reviews from influential personalities can work very well and generate good word-of-mouth marketing for your brand. A 5-star rating on your page or a highlight on your Instagram full of positive review stories, a tweet recommending your product, or a LinkedIn mention appreciating your service can all be very effective for all three steps of your funnel.
• Guest Blogging: Guest blogging on your platform, or creating guest blogs on other influential platforms with quality backlinks can generate good referral traffic for your website
• Ground Coverage: Always, always cover your ground events through photographs and videos that can tell people about your brand. Whether it’s your team attending a growth seminar, a launch event, a press conference, or a social media takeover to show a usual day’s work at your office, ground coverage makes people understand what goes behind the scenes of your product.

Be proactive and think out of the box

Fintech is a rapidly growing platform – I’ve already mentioned that. But to stand out in this rapidly growing industry, you need to be proactive. Standing back and letting your competitors take the stage isn’t the way to grow, nor is using the age-old methods of creating sales for your brand. Be creative with your communication, use out of the box methods to promote your brand, and don’t be afraid to experiment, for it’s the most unexpected things that work in this already saturated digital world, and as a fintech brand, you need to be able to do that to make people understand that your product can make their lives much, much easier.