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Last Updated on January 4, 2024 by admin
This article was originally published in 2020 to address the lingering concerns of the global pandemic but was updated in 2024 because creating a fintech marketing plan is still not easy.
It’s a new year and everyone is re-thinking their fintech marketing plans. It’s a good time to look at what worked last year and what you can leave behind. But it’s also important to factor in new technologies, new customer expectations, and new tactics to ensure you get in front of your target audience with things that are going to appeal to them.
Those in the B2B fintech space face additional hurdles. Fintechs are disrupting and digitizing the financial services space, but with that comes challenges related to trust, credibility, and customer education. Deploying the right fintech marketing techniques to address these challenges can be difficult in an increasingly saturated market.
A saturated market means marketing materials and messaging and flying around everywhere, creating a very confusing (and frustrating) experience for buyers. Whether it’s tone-deaf marketing campaigns or ones that are completely out of touch with what a buyer needs, many B2B fintechs are in need of an overhaul when it comes to a fintech marketing plan.
Primary Forces Impacting the Viability of Your Fintech Marketing Plan
A lot has changed for B2B fintech marketers since we first published this article in 2020. Each new year brings with it a unique set of challenges. This year, those challenges will be shaped by a transformative financial landscape, technological advancements, and shifting customer expectations. Here are some of these challenges:
- Navigating Regulatory Changes: Fintech is a heavily regulated industry, and regulations can vary significantly across different regions. On top of finding novel ways to reach diverse audiences, B2B fintech marketers have to stay on top of changing regulations to make sure that marketing strategies and products comply with these regulations. This requires not only a deep understanding of the legal landscape but also the ability to quickly adapt marketing strategies to any regulatory changes.
- Differentiating: The fintech marketplace has transformed over the past decade. The McKinsey data below offers a snapshot of where things stand:
Standing out in this competitive landscape requires innovative and differentiated marketing strategies. B2B fintech marketers must find unique value propositions but it’s more than that. Marketers must also find interesting, compelling ways to draw people in.
- Building Trust with Skeptical Customers: We all know trust is important. The thing is, it can be challenging to foster trust in a digital-first world when your fintech marketing plan is stuck in the ice age. Marketers must work on strategies that not only highlight the security and reliability of their products but also build a brand that resonates with reliability and credibility.
- Personalization at Scale: B2B fintech clients expect nothing less than personalized solutions. As part of that, your fintech marketing plan must personalized marketing campaigns and customer experiences at scale. Thankfully, the speed with which data analytics and AI are progressing can help marketers understand customer needs and tailor communications accordingly.
- Educating the Market: Fintech is built on innovative ideas and sometimes, innovative ideas are complex. Marketers need to find effective ways to educate their target audience about their products, turning complex fintech jargon into understandable and engaging content. This is especially true for emerging solutions that address problems that prospects may not even realize they face.
- Data Privacy and Security Concerns: With increasing concerns around data privacy and security, fintech marketers must not only ensure that their practices are secure but also communicate this security to their clients. Balancing innovative marketing tactics with stringent data protection policies is a key challenge.
- Integrating ESG Principles: There is a growing emphasis on Environmental, Social, and Governance (ESG) principles in business. These principles should also be integrated into your fintech marketing plan. Communicating this commitment to stakeholders can be challenging yet necessary to attract modern, ethically-minded customers.
- Adapting to Changing Consumer Behavior: Consumer behavior, especially in the wake of the COVID-19 pandemic, has seen a shift towards more digital and contactless solutions. Understanding and adapting to these behavioral changes is crucial for fintech marketers to stay relevant and effective.
- Global Expansion and Localization: As fintech companies expand globally, marketers face the challenge of localizing their marketing strategies to fit different cultures, languages, and regulatory environments, all while maintaining a consistent brand image.
These challenges require B2B fintech marketers to be agile, knowledgeable, and innovative in their approach to stay ahead in the dynamic and competitive landscape of fintech.
Updating Your Fintech Marketing Plan Accordingly
So how does this all blend together in terms of content and its place in your fintech marketing plan? Consider the following:
Blogs
Blogging is still a great way to attract visitors to your website. Don’t just take my word for it:
- More than three-quarters (77%) of B2B buyers say they won’t even talk to a salesperson until they’ve done their own research (2023).
- Companies with blogs produce an average of 67% more leads monthly than companies that don’t blog. (2023)
- Businesses that blog get 55% more website visitors than businesses that don’t. (demandsage)
The important part is to create helpful content that will both educate and entertain your audience while also answering prospect’s questions in a trustworthy manner. That last part is key; a whopping 97% of respondents to Demand Gen’s survey said they place a higher emphasis on the trustworthiness of the source of the content they are consuming.
Webinars
Webinars can be a powerful marketing tool to generate leads. What’s more, webinar content can be repurposed into blogs, infographics, email content and other marketing collateral. Webinars are successful when they educate an audience rather than focusing on pitching.
Webinars are a solid fintech marketing tool in particular, as it gives an organization an avenue through which to build trust with prospects and establish credibility. Demand Gen’s study also pointed out that case studies (47%) and webinars (39%) are the top-two types of most valuable influencer content formats. It also noted that 3% of respondents say they are willing to share information to access webinars.
Email Marketing
Email marketing is one of the most effective fintech marketing tactics available. There are several different ways to do it, including enewsletters, marketing drip campaigns, marketing automation, and more. Investing time and money in building a quality email list is important, and marketing automation can play a central role in making the most out of that list, even as it continues to grow. According to HubSpot, 40 percent of B2B marketers say email newsletters are most critical to their content marketing success. Other fun facts:
- 73 percent of millennials prefer communications from businesses to come via email
- 59 percent of respondents say marketing emails influence their purchase decisions
- Marketers who use segmented campaigns note as much as a 760% increase in revenue
Cultivating a list and engaging with that list over time can generate and nurture leads and eventually, lead to sales and revenue.
These are just a handful of fintech marketing tactics that — when leveraged with personalization, helpfulness, and context in mind — can be employed to make your fintech marketing plan a success.
All the Fintech Marketing Plan Playbooks You Need
Looking for more in-depth fintech marketing tools and content? Check out one of our helpful guides:
